Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Ardelyx Inc. shares valued at $2,760 were sold by Rosenbaum David P. on Sep 01. At $0.92 per share, Rosenbaum David P. sold 3,000 shares. The insider’s holdings dropped to 89,369 shares worth approximately $0.11 million following the completion of this transaction.
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Also, Rosenbaum David P. purchased 3,000 shares, netting a total of over 1,856 in proceeds. Following the buying of shares at $0.62 each, the insider now holds 92,369 shares.
Before that, GRAMMER ELIZABETH A had added 3,000 shares to its account. In a trade valued at $1,856, the insider bought Ardelyx Inc. shares for $0.62 each. Upon closing the transaction, the insider’s holdings increased to 3,000 shares, worth approximately $0.3 million.
As published in a research note from Cantor Fitzgerald on May 06, 2022, Ardelyx Inc. [ARDX] has been rated down from an Overweight to a Neutral and the price target has been revised to $1 from $7. This represents a -19.0% premium over Thursday’s closing price. Analysts at Ladenburg Thalmann upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in early December. As of October 14, 2021, Ladenburg Thalmann has decreased its “Buy” rating to a “Neutral” for ARDX. Earlier on July 21, 2021, Jefferies downgraded its rating. Their new recommendation was “a Hold” for ARDX stock which previously was a “a Buy”.
Analyzing ARDX’s Price Performance
On Thursday, Ardelyx Inc. [NASDAQ: ARDX] plunged -4.80% to $1.19. The stock’s lowest price that day was $1.18, but it reached a high of $1.25 in the same session. During the last five days, there has been a drop of approximately -13.14%. Over the course of the year, Ardelyx Inc. shares have jumped approximately 8.18%. Shares of the company reached a 52-week high of $1.4800 on 09/13/22 and a 52-week low of $0.4902 on 06/16/22. A 50-day SMA is recorded $0.9737, while a 200-day SMA reached $0.8866. Nevertheless, trading volume fell to 2.25 million shares from 2.08 million shares the previous day.
Support And Resistance Levels for Ardelyx Inc. (ARDX)
According to the 24-hour chart, there is a support level at 1.1633, which, if violated, would cause prices to drop to 1.1367. In the upper region, resistance lies at 1.2333. The next price resistance is at 1.2767. RSI (Relative Strength Index) is 52.72 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.0400, which suggests the price will decrease in the coming days. Percent R is at 58.00%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Ardelyx Inc. subject to short interest?
Stocks of Ardelyx Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -1.32 million shares to 10.84 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 12.16 million shares. A decline of -12.18% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.11 of the overall float, the days-to-cover ratio (short ratio) decline to 3.11.
Which companies own the most shares of Ardelyx Inc. (ARDX)?
According to The Vanguard Group, Inc. filings, the company currently owns 5,178,086 shares, which is about 3.35% of the total ARDX shares outstanding. The investor’s shares have appreciated by 1,401,005 from its previous 13-F filing of 3777081.0 shares. With the completion of the buy transaction, Point72 Asset Management LP’s stake is now worth $4,740,000. AIGH Capital Management LLC acquire a 21.15% interest valued at $3.58 million while Prosight Management LP 2,163,520 stake. In its current portfolio, Ikarian Capital LLC holds 1,680,552 shares valued at $1.59 million.
In terms of Ardelyx Inc. share price expectations, FactSet research, analysts set an average price target of $4.50 in the next 12 months, up nearly 220.0% from the previous closing price of $1.25. Analysts anticipate Ardelyx Inc. stock to reach $10.00 by 2022, with the lowest price target being $1.00. In spite of this, 7 analysts ranked Ardelyx Inc. stock as an Overweight at the end of 2022. On July 20, 2021, Wedbush assigned a price target of “a Neutral” to the stock and downgraded coverage with a $3.