Integrated Wealth Concepts LLC Sells 3,600 Shares of Ardelyx, Inc. (NASDAQ:ARDX)

Posted by Defense World Staff on Aug 8th, 2023

Integrated Wealth Concepts LLC lessened its holdings in Ardelyx, Inc. (NASDAQ:ARDX – Free Report) by 23.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 12,000 shares of the biopharmaceutical company’s stock after selling 3,600 shares during the period. Integrated Wealth Concepts LLC’s holdings in Ardelyx were worth $57,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ARDX. Ameritas Advisory Services LLC purchased a new position in Ardelyx in the fourth quarter valued at about $34,000. HighTower Advisors LLC purchased a new position in Ardelyx in the fourth quarter worth $35,000. Legacy Wealth Asset Management LLC acquired a new position in shares of Ardelyx during the fourth quarter worth $37,000. IFP Advisors Inc purchased a new stake in shares of Ardelyx during the 4th quarter valued at $40,000. Finally, HBK Sorce Advisory LLC boosted its position in shares of Ardelyx by 100.0% in the 4th quarter. HBK Sorce Advisory LLC now owns 40,000 shares of the biopharmaceutical company’s stock worth $42,000 after purchasing an additional 20,000 shares in the last quarter. 52.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Ardelyx news, insider Laura A. Williams sold 25,000 shares of the company’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $3.35, for a total value of $83,750.00. Following the completion of the transaction, the insider now owns 294,430 shares in the company, valued at $986,340.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Ardelyx news, insider Robert Blanks sold 33,333 shares of the firm’s stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $3.63, for a total value of $120,998.79. Following the sale, the insider now directly owns 266,134 shares of the company’s stock, valued at $966,066.42. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Laura A. Williams sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $3.35, for a total value of $83,750.00. Following the completion of the sale, the insider now owns 294,430 shares of the company’s stock, valued at $986,340.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 73,609 shares of company stock valued at $260,506. Corporate insiders own 5.50% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on ARDX. LADENBURG THALM/SH SH increased their price target on Ardelyx from $7.50 to $8.50 and gave the company a “buy” rating in a research note on Thursday, August 3rd. StockNews.com downgraded Ardelyx from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Finally, Wedbush increased their price target on shares of Ardelyx from $6.00 to $7.00 and gave the stock an “outperform” rating in a report on Monday, April 17th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Ardelyx currently has an average rating of “Moderate Buy” and an average price target of $6.70.

View Our Latest Research Report on ARDX

Ardelyx Stock Down 4.1 %

Shares of NASDAQ ARDX opened at $3.75 on Tuesday. The firm’s 50 day simple moving average is $3.61 and its 200-day simple moving average is $3.76. Ardelyx, Inc. has a 12 month low of $0.82 and a 12 month high of $5.13.

Ardelyx Profile

(Free Report)

Ardelyx, Inc, a biopharmaceutical company, discovers, develops, and commercializes medicines to treat gastrointestinal and cardiorenal therapeutic areas in the United States and internationally. The company's lead product candidate is tenapanor for the treatment of patients with irritable bowel syndrome with constipation.