Algert Global LLC Has $4.46 Million Stock Holdings in Ardelyx, Inc. $ARDX

Key Points

• Algert Global LLC reduced its stake in Ardelyx, Inc. by 7.7% in Q1, selling 75,566 shares, leaving it with approximately 907,518 shares valued at $4.46 million.
• Institutional investors hold 58.92% of Ardelyx's stock, with several hedge funds recently increasing their positions, indicating continued interest in the biopharmaceutical company.
• Ardelyx's recent earnings report showed a revenue increase of 23.0% year-over-year, beating consensus estimates, with reported EPS of ($0.08) compared to analyst expectations of ($0.13).

Algert Global LLC reduced its stake in shares of Ardelyx, Inc. (NASDAQ:ARDX - Free Report) by 7.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 907,518 shares of the biopharmaceutical company's stock after selling 75,566 shares during the quarter. Algert Global LLC owned 0.38% of Ardelyx worth $4,456,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ARDX. Nuveen LLC acquired a new position in Ardelyx during the 1st quarter valued at $16,735,000. Janus Henderson Group PLC raised its stake in Ardelyx by 13.3% during the 4th quarter. Janus Henderson Group PLC now owns 24,387,941 shares of the biopharmaceutical company's stock valued at $123,587,000 after purchasing an additional 2,858,061 shares during the last quarter. Two Seas Capital LP acquired a new position in Ardelyx during the 4th quarter valued at $9,407,000. Rock Springs Capital Management LP acquired a new position in Ardelyx during the 4th quarter valued at $7,421,000. Finally, D. E. Shaw & Co. Inc. raised its stake in Ardelyx by 9,499.8% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,468,668 shares of the biopharmaceutical company's stock valued at $7,446,000 after purchasing an additional 1,453,369 shares during the last quarter. 58.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director David M. Mott acquired 200,000 shares of the firm's stock in a transaction on Monday, June 16th. The shares were purchased at an average price of $3.63 per share, with a total value of $726,000.00. Following the acquisition, the director directly owned 2,896,871 shares in the company, valued at $10,515,641.73. The trade was a 7.42% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 4.80% of the stock is currently owned by corporate insiders.

Ardelyx Price Performance

NASDAQ:ARDX remained flat at $6.11 during mid-day trading on Friday. 3,653,288 shares of the company's stock were exchanged, compared to its average volume of 4,696,685. Ardelyx, Inc. has a 12-month low of $3.21 and a 12-month high of $7.18. The firm's 50 day moving average is $4.58 and its two-hundred day moving average is $4.65. The company has a debt-to-equity ratio of 1.44, a quick ratio of 4.03 and a current ratio of 4.30. The stock has a market capitalization of $1.47 billion, a PE ratio of -26.56 and a beta of 0.68.

Ardelyx (NASDAQ:ARDX - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The biopharmaceutical company reported ($0.08) EPS for the quarter, topping analysts' consensus estimates of ($0.13) by $0.05. Ardelyx had a negative net margin of 14.60% and a negative return on equity of 36.57%. The firm had revenue of $97.66 million for the quarter, compared to analyst estimates of $82.69 million. During the same quarter in the prior year, the firm earned ($0.07) EPS. The company's revenue was up 23.0% on a year-over-year basis. On average, equities research analysts anticipate that Ardelyx, Inc. will post -0.18 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ARDX shares. Raymond James Financial reissued an "outperform" rating and issued a $12.00 price target (up previously from $11.00) on shares of Ardelyx in a report on Tuesday, August 5th. Citigroup lowered their price target on shares of Ardelyx from $11.00 to $10.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. HC Wainwright started coverage on shares of Ardelyx in a report on Wednesday, June 18th. They issued a "buy" rating and a $10.00 price target on the stock. Wedbush reissued an "outperform" rating and issued a $14.00 price target (up previously from $13.00) on shares of Ardelyx in a report on Tuesday, August 5th. Finally, UBS Group set a $12.00 price target on shares of Ardelyx in a report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $11.50.

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.