Ardelyx, Inc. (NASDAQ:ARDX) Closed Lower Than Its 50 Day Average


The stock last traded at $5.25 which is marginally under $5.68, the 50 day moving average and impressively lower than the 200 day moving average of $6.61. The 50 day moving average went down $-0.43 or -7.49% and the 200 day average was down $-1.36. Trading was light with 445K shares changing hands by the end of trading on Tuesday. Trading volume was down 42.44% under the stocks average daily volume.

Traders are a little more bearish on Ardelyx, Inc. recently as inferred by the change in short interest. The firm experienced a rise in short interest from September 15, 2017 to September 29, 2017 of 3.00%. Short shares grew 33,159 over that period. With short interest at 1,138,159 and short average daily volume at 210,988, the short-interest ratio is 5.0 and the percentage of shorted shares was 0.02% on September 29.

These funds have shifted positions in (ARDX). As of quarter end Crestline Management, Lp had bought 154,827 shares growing its position 272.1%. The value of the investment in ARDX went from $720,000 to $1,080,000 a change of $360,000 quarter over quarter. Ubs Group Ag bolstered its position by buying 3,455 shares an increase of 3,030.7% from 03/31/2017 to 06/30/2017. Ubs Group Ag currently owns 3,569 shares valued at $18,000. The value of the position overall is up by 1,700.0%.

Cutler Group LP divested its investment by shedding 100 shares a decrease of 2.8%. Cutler Group LP claims 3,500 shares worth $19,000. The total value of its holdings increased 5.6%. Meeder Asset Management Inc trimmed its holdings by shedding 22 shares a decrease of 10.7% as of 09/30/2017. Meeder Asset Management Inc controls 184 shares with a value of $1,000. The value of the position overall is down by 0.0%.

October 12 investment analysts at Cantor Fitzgerald held the stock rating at “Overweight” and lowered the price expectation to $14.00 from $19.00. On October 13 Citigroup made no change to the company rating of “Buy” but raised the price target from $15.00 to $19.00.

As of the latest earnings report the EPS was $-2.44 and is projected to be $-2.20 for the current year with 47,445,000 shares outstanding. Analysts expect next quarter’s EPS to be $-0.52 and the next full year EPS is anticipated 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..