Tudor Investment Corp ET AL Invests $642,000 in Ardelyx, Inc. (NASDAQ:ARDX)

Tudor Investment Corp ET AL acquired a new position in Ardelyx, Inc. (NASDAQ:ARDX - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 126,530 shares of the biopharmaceutical company's stock, valued at approximately $642,000. Tudor Investment Corp ET AL owned 0.05% of Ardelyx as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Barclays PLC lifted its stake in shares of Ardelyx by 24.9% in the 3rd quarter. Barclays PLC now owns 547,325 shares of the biopharmaceutical company's stock valued at $3,770,000 after purchasing an additional 109,285 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Ardelyx by 1.6% in the third quarter. JPMorgan Chase & Co. now owns 387,144 shares of the biopharmaceutical company's stock valued at $2,667,000 after buying an additional 6,093 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in Ardelyx by 25.5% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 808,392 shares of the biopharmaceutical company's stock valued at $4,099,000 after buying an additional 164,480 shares during the last quarter. SG Americas Securities LLC boosted its stake in Ardelyx by 41.8% during the fourth quarter. SG Americas Securities LLC now owns 54,886 shares of the biopharmaceutical company's stock worth $278,000 after buying an additional 16,182 shares during the period. Finally, Inspire Investing LLC increased its position in shares of Ardelyx by 32.8% during the fourth quarter. Inspire Investing LLC now owns 79,423 shares of the biopharmaceutical company's stock valued at $403,000 after acquiring an additional 19,630 shares during the last quarter. Institutional investors and hedge funds own 58.92% of the company's stock.

Ardelyx Stock Down 3.1%

Shares of ARDX traded down $0.11 during midday trading on Tuesday, hitting $3.42. The company had a trading volume of 1,983,545 shares, compared to its average volume of 4,378,724. Ardelyx, Inc. has a 1 year low of $3.37 and a 1 year high of $8.14. The firm has a market capitalization of $818.25 million, a P/E ratio of -21.38 and a beta of 0.76. The company has a debt-to-equity ratio of 0.87, a quick ratio of 4.31 and a current ratio of 4.58. The company's 50-day simple moving average is $4.82 and its 200-day simple moving average is $5.16.

Ardelyx (NASDAQ:ARDX - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.07). Ardelyx had a negative return on equity of 24.87% and a negative net margin of 11.73%. The firm had revenue of $74.11 million during the quarter, compared to analysts' expectations of $79.40 million. During the same quarter in the prior year, the firm earned ($0.11) EPS. The firm's revenue was up 61.1% compared to the same quarter last year. As a group, sell-side analysts expect that Ardelyx, Inc. will post -0.18 EPS for the current year.

Insider Activity

In other Ardelyx news, insider Laura A. Williams sold 4,941 shares of the firm's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $5.62, for a total value of $27,768.42. Following the sale, the insider now directly owns 303,804 shares in the company, valued at $1,707,378.48. This trade represents a 1.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David M. Mott acquired 381,377 shares of the stock in a transaction dated Friday, May 2nd. The shares were acquired at an average cost of $4.22 per share, with a total value of $1,609,410.94. Following the completion of the transaction, the director now owns 2,396,871 shares in the company, valued at approximately $10,114,795.62. This represents a 18.92% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have sold 158,076 shares of company stock worth $777,555. 5.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on ARDX shares. LADENBURG THALM/SH SH restated a "buy" rating and issued a $11.00 price objective on shares of Ardelyx in a report on Friday, March 7th. BTIG Research assumed coverage on Ardelyx in a research report on Tuesday, March 4th. They set a "buy" rating and a $14.00 price target for the company. Citigroup dropped their price objective on Ardelyx from $11.00 to $10.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. HC Wainwright reissued a "neutral" rating and set a $5.50 target price on shares of Ardelyx in a research note on Friday, February 21st. Finally, Cantor Fitzgerald raised Ardelyx to a "strong-buy" rating in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $10.39.

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.