Ardelyx, Inc. shares had a trading volume of 455K in the last trading session. Trading volume was down 79.96% under the stocks average daily volume.
Short traders are more bearish on shares of the company lately if you evaluate the motion in short interest. The company recorded a rise in short interest of 7.58% as of October 13, 2017 from the last reporting period. Short interest increased from 1,138,159 to 1,224,464 over that timeframe. Days to cover decreased from 5.0 to 0.0 and the short interest percentage is 0.03% as of October 13.
Ardelyx, Inc. (NASDAQ:ARDX) has been the object of insider selling activity recently. Reginald Seeto, Chief Operating Officer reported the sale of 10,008 shares. The shares were sold on October 24th for an average price of $5.20. The Chief Operating Officer now owns $779,402 of the stock per the Form 4 SEC filing.
These funds have shifted positions in (ARDX). Cutler Group LP downsized its position by shedding 100 shares a decrease of 2.8% as of 09/30/2017. Cutler Group LP controls 3,500 shares with a value of $19,000. The total value of its holdings increased 5.6%. Meeder Asset Management Inc trimmed its investment by selling 22 shares a decrease of 10.7%. Meeder Asset Management Inc claims 184 shares valued at $1,000. The value of the position overall is down by 0.0%.
As of the end of the quarter First Manhattan Co had sold 36,210 shares trimming its position 5.8%. The value of the total investment in Ardelyx, Inc. went from $3,171,000 to $3,280,000 increasing 3.4% quarter over quarter. Simplex Trading, LLC augmented its holdings by buying 2,802 shares an increase of 128.8% from 06/30/2017 to 09/30/2017. Simplex Trading, LLC now controls 4,977 shares worth $27,000. The value of the position overall is up by 145.5%.
On October 12 Cantor Fitzgerald held the stock rating at “Overweight” and moved down the price target from $19.00 to $14.00. October 13 investment analysts at Citigroup maintained a company rating of “Buy” and raised the price expectation to $19.00 from $15.00.
The company is up by 5.94% since yesterday’s close of $5.35. Company shares last traded at $5.35 just a bit lower than the 50 day moving average which is $5.60 and which is significantly below the 200 day moving average of $6.36. The 50 day moving average was down $-0.25 and the 200 day average went down by -15.86%.
As of the last earnings report the EPS was $-2.44 and is projected to be $-2.20 for the current year with 47,445,000 shares now outstanding. Analysts expect next quarter’s EPS to be $-0.52 with next year’s EPS projected to be $-2.12.
Ardelyx, Inc., launched on October 18, 2007, is a clinical-stage biopharmaceutical company. The Business’s therapeutics focuses on addressing cardiorenal and gastrointestinal (GI) diseases. The Company operates through the research, development and commercialization of biopharmaceutical products segment. The Business’s products line includes cardiorenal portfolio and gastrointestinal portfolio. The cardiorenal portfolio includes tenapanor, RDX7675, RDX013 and RDX011. The gastrointestinal portfolio includes tenapanor, RDX8940, RDX011 and RDX023..