Tudor Investment Corp ET AL Buys New Shares in Ardelyx, Inc. (NASDAQ:ARDX)

Tudor Investment Corp ET AL acquired a new position in shares of Ardelyx, Inc. (NASDAQ:ARDX - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 126,530 shares of the biopharmaceutical company's stock, valued at approximately $642,000. Tudor Investment Corp ET AL owned about 0.05% of Ardelyx at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ARDX. Quarry LP purchased a new position in Ardelyx during the fourth quarter worth about $51,000. Oxford Asset Management LLP purchased a new position in shares of Ardelyx in the 4th quarter worth approximately $80,000. Virtus ETF Advisers LLC boosted its stake in shares of Ardelyx by 31.5% in the 4th quarter. Virtus ETF Advisers LLC now owns 66,728 shares of the biopharmaceutical company's stock worth $338,000 after buying an additional 15,981 shares during the last quarter. Two Seas Capital LP bought a new position in shares of Ardelyx in the fourth quarter valued at approximately $9,407,000. Finally, Adage Capital Partners GP L.L.C. purchased a new stake in shares of Ardelyx during the fourth quarter valued at approximately $3,296,000. Institutional investors own 58.92% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. StockNews.com downgraded Ardelyx from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. BTIG Research assumed coverage on shares of Ardelyx in a research report on Tuesday, March 4th. They set a "buy" rating and a $14.00 price target for the company. LADENBURG THALM/SH SH reaffirmed a "buy" rating and issued a $11.00 price objective on shares of Ardelyx in a research report on Friday, March 7th. Citigroup reduced their target price on shares of Ardelyx from $11.00 to $10.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Finally, HC Wainwright reaffirmed a "neutral" rating and issued a $5.50 price target on shares of Ardelyx in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Ardelyx has a consensus rating of "Moderate Buy" and an average target price of $10.39.

Ardelyx Stock Performance

ARDX stock traded down $0.02 during midday trading on Friday, reaching $3.62. 5,437,990 shares of the company's stock traded hands, compared to its average volume of 4,382,938. The firm has a market capitalization of $866.10 million, a PE ratio of -22.63 and a beta of 0.76. The company has a 50-day moving average price of $4.85 and a two-hundred day moving average price of $5.18. Ardelyx, Inc. has a 52 week low of $3.50 and a 52 week high of $8.14. The company has a debt-to-equity ratio of 0.87, a quick ratio of 4.31 and a current ratio of 4.58.

Ardelyx (NASDAQ:ARDX - Get Free Report) last released its quarterly earnings data 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). The company had revenue of $74.11 million for the quarter, compared to the consensus estimate of $79.40 million. Ardelyx had a negative net margin of 11.73% and a negative return on equity of 24.87%. The business's revenue for the quarter was up 61.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.11) earnings per share. As a group, equities analysts anticipate that Ardelyx, Inc. will post -0.18 EPS for the current year.

Insider Transactions at Ardelyx

In related news, CEO Michael Raab sold 22,964 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $5.62, for a total value of $129,057.68. Following the sale, the chief executive officer now owns 1,085,755 shares in the company, valued at approximately $6,101,943.10. This trade represents a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director David M. Mott acquired 77,729 shares of the company's stock in a transaction that occurred on Monday, February 24th. The shares were acquired at an average cost of $5.00 per share, with a total value of $388,645.00. Following the purchase, the director now directly owns 2,015,494 shares of the company's stock, valued at $10,077,470. This trade represents a 4.01 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 158,076 shares of company stock valued at $777,555. 5.90% of the stock is currently owned by corporate insiders.

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.