Values First Advisors Inc. Raises Stock Position in Ardelyx, Inc. (NASDAQ:ARDX)

Values First Advisors Inc. lifted its position in shares of Ardelyx, Inc. (NASDAQ:ARDX) by 14.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,282 shares of the biopharmaceutical company’s stock after buying an additional 5,890 shares during the period. Values First Advisors Inc.’s holdings in Ardelyx were worth $319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Redmile Group LLC acquired a new position in shares of Ardelyx in the 1st quarter valued at $16,020,000. Millennium Management LLC boosted its stake in Ardelyx by 142.8% during the second quarter. Millennium Management LLC now owns 3,203,090 shares of the biopharmaceutical company’s stock worth $23,735,000 after buying an additional 1,883,995 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Ardelyx by 68.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,913,863 shares of the biopharmaceutical company’s stock valued at $28,572,000 after acquiring an additional 1,584,597 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Ardelyx by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 13,391,855 shares of the biopharmaceutical company’s stock valued at $97,761,000 after acquiring an additional 365,809 shares during the period. Finally, Squarepoint Ops LLC lifted its holdings in shares of Ardelyx by 375.9% in the 2nd quarter. Squarepoint Ops LLC now owns 460,689 shares of the biopharmaceutical company’s stock worth $3,414,000 after acquiring an additional 363,894 shares during the last quarter. Hedge funds and other institutional investors own 58.92% of the company’s stock.

Insider Buying and Selling at Ardelyx

In other news, CEO Michael Raab sold 30,000 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $5.64, for a total value of $169,200.00. Following the completion of the transaction, the chief executive officer now owns 1,260,463 shares in the company, valued at approximately $7,109,011.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Ardelyx news, CFO Justin A. Renz sold 5,289 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $5.86, for a total value of $30,993.54. Following the completion of the sale, the chief financial officer now owns 295,257 shares in the company, valued at approximately $1,730,206.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Raab sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $5.64, for a total transaction of $169,200.00. Following the transaction, the chief executive officer now owns 1,260,463 shares in the company, valued at approximately $7,109,011.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 217,126 shares of company stock worth $1,320,413 over the last three months. Insiders own 5.50% of the company’s stock.

Ardelyx Price Performance

Shares of ARDX opened at $5.86 on Friday. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of -20.93 and a beta of 0.90. The firm’s fifty day simple moving average is $6.09 and its 200-day simple moving average is $6.37. Ardelyx, Inc. has a twelve month low of $3.43 and a twelve month high of $10.13. The company has a current ratio of 4.21, a quick ratio of 3.99 and a debt-to-equity ratio of 0.68.

Ardelyx (NASDAQ:ARDX) last announced its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.04. Ardelyx had a negative return on equity of 39.73% and a negative net margin of 31.02%. The company had revenue of $73.20 million during the quarter, compared to the consensus estimate of $55.03 million. During the same period in the previous year, the business earned ($0.08) EPS. Ardelyx’s revenue for the quarter was up 228.3% on a year-over-year basis. Equities analysts forecast that Ardelyx, Inc. will post -0.25 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ARDX. Piper Sandler lowered Ardelyx from an “overweight” rating to a “neutral” rating and cut their target price for the company from $15.00 to $7.00 in a research report on Tuesday, July 2nd. Citigroup raised their target price on Ardelyx from $10.00 to $12.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Wedbush reiterated an “outperform” rating and set a $11.00 price target on shares of Ardelyx in a research note on Friday, August 2nd. StockNews.com raised shares of Ardelyx from a “sell” rating to a “hold” rating in a research note on Wednesday, July 31st. Finally, HC Wainwright upped their target price on shares of Ardelyx from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Ardelyx currently has a consensus rating of “Moderate Buy” and an average target price of $11.67.

Ardelyx Company 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.