53,993 Shares in Ardelyx, Inc. (NASDAQ:ARDX) Acquired by CreativeOne Wealth LLC

CreativeOne Wealth LLC bought a new position in Ardelyx, Inc. (NASDAQ:ARDX - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 53,993 shares of the biopharmaceutical company's stock, valued at approximately $274,000.

Other large investors have also modified their holdings of the company. Newbridge Financial Services Group Inc. acquired a new position in shares of Ardelyx during the fourth quarter worth $35,000. SBI Securities Co. Ltd. acquired a new position in shares of Ardelyx in the fourth quarter worth about $41,000. Covestor Ltd boosted its holdings in Ardelyx by 287.0% in the fourth quarter. Covestor Ltd now owns 11,315 shares of the biopharmaceutical company's stock valued at $57,000 after purchasing an additional 8,391 shares during the last quarter. Sheets Smith Investment Management acquired a new stake in Ardelyx during the 4th quarter valued at approximately $58,000. Finally, KBC Group NV increased its holdings in Ardelyx by 101.8% during the 4th quarter. KBC Group NV now owns 13,706 shares of the biopharmaceutical company's stock worth $69,000 after purchasing an additional 6,915 shares during the last quarter. Institutional investors and hedge funds own 58.92% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. LADENBURG THALM/SH SH reiterated a "buy" rating and set a $11.00 target price on shares of Ardelyx in a research note on Friday, March 7th. Jefferies Financial Group decreased their price objective on shares of Ardelyx from $11.00 to $8.00 and set a "buy" rating for the company in a report on Thursday, January 2nd. HC Wainwright restated a "neutral" rating and issued a $5.50 target price on shares of Ardelyx in a research note on Friday, February 21st. Raymond James reaffirmed a "strong-buy" rating and set a $13.00 price target (down previously from $15.00) on shares of Ardelyx in a research report on Friday, February 21st. Finally, Piper Sandler raised Ardelyx to a "hold" rating in a report on Wednesday, March 12th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $10.61.

Ardelyx Stock Performance

NASDAQ:ARDX traded up $0.12 during midday trading on Friday, reaching $5.14. 1,674,282 shares of the company traded hands, compared to its average volume of 4,441,057. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of -32.09 and a beta of 0.81. The company has a fifty day moving average price of $5.06 and a 200 day moving average price of $5.29. The company has a debt-to-equity ratio of 0.87, a current ratio of 4.58 and a quick ratio of 4.31. Ardelyx, Inc. has a twelve month low of $4.02 and a twelve month high of $9.33.

Ardelyx (NASDAQ:ARDX - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.02. Ardelyx had a negative net margin of 11.73% and a negative return on equity of 24.87%. The company had revenue of $116.13 million during the quarter, compared to the consensus estimate of $111.16 million. On average, analysts expect that Ardelyx, Inc. will post -0.18 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Laura A. Williams sold 4,941 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 303,804 shares of the company's stock, valued at $1,707,378.48. This represents a 1.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael Raab sold 41,666 shares of Ardelyx stock in a transaction on Friday, April 4th. The shares were sold at an average price of $4.59, for a total value of $191,246.94. Following the sale, the chief executive officer now directly owns 1,615,587 shares in the company, valued at $7,415,544.33. The trade was a 2.51 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 158,076 shares of company stock worth $823,804. Insiders own 5.90% of the company's stock.

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.