Ardelyx, Inc. (NASDAQ:ARDX) Shares Acquired by China Universal Asset Management Co. Ltd.

China Universal Asset Management Co. Ltd. boosted its holdings in Ardelyx, Inc. (NASDAQ:ARDX) by 10.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 50,222 shares of the biopharmaceutical company’s stock after buying an additional 4,942 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Ardelyx were worth $255,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Helen Stephens Group LLC bought a new stake in shares of Ardelyx during the 3rd quarter worth $76,000. CWM LLC lifted its holdings in shares of Ardelyx by 328.1% during the third quarter. CWM LLC now owns 12,814 shares of the biopharmaceutical company’s stock valued at $88,000 after purchasing an additional 9,821 shares during the last quarter. KBC Group NV boosted its position in shares of Ardelyx by 101.8% in the 4th quarter. KBC Group NV now owns 13,706 shares of the biopharmaceutical company’s stock valued at $69,000 after purchasing an additional 6,915 shares during the period. Algert Global LLC purchased a new position in Ardelyx in the 2nd quarter worth about $174,000. Finally, Aigen Investment Management LP raised its holdings in Ardelyx by 29.4% during the 3rd quarter. Aigen Investment Management LP now owns 23,510 shares of the biopharmaceutical company’s stock worth $162,000 after buying an additional 5,346 shares during the period. Institutional investors own 58.92% of the company’s stock.

Analysts Set New Price Targets

ARDX has been the subject of several recent analyst reports. Piper Sandler raised their target price on shares of Ardelyx from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Cantor Fitzgerald upgraded shares of Ardelyx to a “strong-buy” rating in a research report on Thursday. Citigroup reduced their target price on Ardelyx from $12.00 to $10.00 and set a “buy” rating for the company in a report on Monday, November 4th. Jefferies Financial Group lowered their price target on Ardelyx from $11.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Finally, HC Wainwright reissued a “neutral” rating and set a $5.50 price target on shares of Ardelyx in a research report on Thursday, January 16th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Ardelyx has a consensus rating of “Moderate Buy” and an average target price of $9.42.

Insider Buying and Selling at Ardelyx

In other news, Director David M. Mott purchased 213,300 shares of Ardelyx stock in a transaction dated Thursday, December 19th. The stock was acquired at an average cost of $4.67 per share, for a total transaction of $996,111.00. Following the acquisition, the director now directly owns 1,638,765 shares in the company, valued at $7,653,032.55. This represents a 14.96 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider David P. Rosenbaum sold 27,171 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $6.10, for a total value of $165,743.10. Following the completion of the sale, the insider now directly owns 153,616 shares of the company’s stock, valued at approximately $937,057.60. The trade was a 15.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 207,852 shares of company stock worth $1,103,423 over the last 90 days. 5.90% of the stock is currently owned by corporate insiders.

Ardelyx Stock Performance

NASDAQ ARDX opened at $5.36 on Monday. The company has a current ratio of 4.03, a quick ratio of 3.87 and a debt-to-equity ratio of 0.64. Ardelyx, Inc. has a 1-year low of $4.32 and a 1-year high of $10.13. The firm’s fifty day simple moving average is $5.23 and its 200-day simple moving average is $5.63. The company has a market capitalization of $1.27 billion, a PE ratio of -17.87 and a beta of 0.85.

Ardelyx Profile

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.