Home / Healthcare / Health Care Firm Ardelyx Inc. (ARDX) Advances 4.1% at Midday on September 23

Health Care Firm Ardelyx Inc. (ARDX) Advances 4.1% at Midday on September 23

Ardelyx Inc. (ARDX) has been one of the best performers amongst all NYSE and NASDAQ listed stocks in the health care sector during morning trading on September 23. At the lunch break, shares of ARDX have clocked gains of 4.1% to $12.32 after closing the day prior at $11.83. In the first two and a half hours of trading, the stock has gone as high as $12.54 and as low as $11.69. Today’s rise has come with about 63,204 shares changing hands, compared to an average 30-day volume of 181,692 for Ardelyx Inc.. The price is currently below the 30-day volume weighted average price of $12.21 for ARDX.

The share appreciation gives the company a market capitalization of $558.97 million based upon 47.25 million shares outstanding. It also means that ARDX has a price-to-book ratio of 3.98:1.

In the past 52 weeks, shares of ARDX have traded as low as $6.36 and as high as $21.99. Technical traders will take note that at $12.32, shares of ARDX are trading above their 200-day MA at $10.21 and above their 50-day MA at $10.44. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.

Who is ARDX?

Ardelyx Inc is a clinical stage biopharmaceutical company. The Company engages in the discovery, development & commercialization of non-systemic, molecule therapeutics that work in the gastrointestinal tract to treat cardio-renal & metabolic diseases. The company’s 61 employees are led by CEO Michael G. Raab from the corporate headquarters at 34175 Ardenwood Boulrvard in Fremont, CA.

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