Karpus Management Has Lowered Nuveen Select Tax Free Incm (NXQ) Stake; Ardelyx (ARDX) SI Increased By 7.58%

October 30, 2017 - By Marie Mckinney

Ardelyx Incorporated (NASDAQ:ARDX) had an increase of 7.58% in short interest. ARDX’s SI was 1.22M shares in October as released by FINRA. Its up 7.58% from 1.14 million shares previously. With 3.41 million avg volume, 0 days are for Ardelyx Incorporated (NASDAQ:ARDX)’s short sellers to cover ARDX’s short positions. The SI to Ardelyx Incorporated’s float is 4.04%. The stock increased 4.12% or $0.2 on October 27, reaching $5.05. About shares traded. Ardelyx Inc (NASDAQ:ARDX) has declined 19.22% since October 30, 2016 and is downtrending. It has underperformed by 35.92% the S&P500.

Karpus Management Inc decreased Nuveen Select Tax Free Incm (NXQ) stake by 63.52% reported in 2017Q2 SEC filing. Karpus Management Inc sold 36,371 shares as Nuveen Select Tax Free Incm (NXQ)’s stock rose 2.76%. The Karpus Management Inc holds 20,884 shares with $286,000 value, down from 57,255 last quarter. Nuveen Select Tax Free Incm now has $245.51M valuation. The stock decreased 0.72% or $0.1 on October 27, reaching $13.86. About shares traded. Nuveen Select Tax Free Incom Portfolio 2 (NYSE:NXQ) has declined 3.77% since October 30, 2016 and is downtrending. It has underperformed by 20.47% the S&P500.

Among 7 analysts covering Ardelyx Inc (NASDAQ:ARDX), 7 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Ardelyx Inc had 15 analyst reports since August 18, 2015 according to SRatingsIntel. The rating was maintained by Cantor Fitzgerald on Monday, August 28 with “Buy”. BTIG Research initiated it with “Buy” rating and $33 target in Tuesday, September 22 report. As per Thursday, October 12, the company rating was maintained by Cantor Fitzgerald. The firm has “Buy” rating by Wedbush given on Thursday, October 12. Cantor Fitzgerald maintained the shares of ARDX in report on Wednesday, August 9 with “Buy” rating. On Thursday, March 31 the stock rating was initiated by Ladenburg Thalmann with “Buy”. The stock has “Buy” rating by Cantor Fitzgerald on Wednesday, May 31. The firm has “Buy” rating by Citigroup given on Wednesday, August 10. BTIG Research initiated the shares of ARDX in report on Friday, December 18 with “Buy” rating. BTIG Research maintained Ardelyx Inc (NASDAQ:ARDX) rating on Friday, October 13. BTIG Research has “Buy” rating and $15.0 target.

Ardelyx, Inc. is a clinical-stage biopharmaceutical company. The company has market cap of $239.60 million. The Company’s therapeutics focuses on addressing cardiorenal and gastrointestinal diseases. It currently has negative earnings. It operates through the research, development and commercialization of biopharmaceutical products segment.