Ardelyx, Inc. $ARDX Stock Position Increased by Vanguard Group Inc.

Key Points

• Vanguard Group increased its Ardelyx stake by 3.3% in the fourth quarter, adding 610,162 shares and bringing its total holding to 18,979,483 shares worth about $110.7 million.
• Several other institutional investors also boosted or initiated positions, and institutions now own 58.92% of Ardelyx’s stock.
• Ardelyx reported quarterly revenue of $94.47 million, topping estimates, but posted an EPS loss of $0.15 versus expectations for a $0.13 loss; analysts still rate the stock a Moderate Buy with a consensus target price of $15.70.

Vanguard Group Inc. lifted its position in Ardelyx, Inc. (NASDAQ:ARDX - Free Report) by 3.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,979,483 shares of the biopharmaceutical company's stock after buying an additional 610,162 shares during the period. Vanguard Group Inc. owned approximately 7.81% of Ardelyx worth $110,650,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Y Intercept Hong Kong Ltd grew its holdings in shares of Ardelyx by 488.0% during the third quarter. Y Intercept Hong Kong Ltd now owns 306,547 shares of the biopharmaceutical company's stock valued at $1,689,000 after buying an additional 254,417 shares in the last quarter. AIGH Capital Management LLC purchased a new position in shares of Ardelyx during the third quarter valued at $1,094,000. SG Americas Securities LLC grew its holdings in shares of Ardelyx by 514.6% during the third quarter. SG Americas Securities LLC now owns 131,925 shares of the biopharmaceutical company's stock valued at $727,000 after buying an additional 110,459 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in shares of Ardelyx by 23.0% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 959,540 shares of the biopharmaceutical company's stock valued at $5,594,000 after buying an additional 179,192 shares in the last quarter. Finally, Tudor Investment Corp ET AL purchased a new position in shares of Ardelyx during the third quarter valued at $688,000. Institutional investors own 58.92% of the company's stock.

Insider Buying and Selling at Ardelyx

In other news, insider Laura A. Williams sold 8,176 shares of the firm's stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $5.85, for a total value of $47,829.60. Following the completion of the transaction, the insider owned 436,082 shares in the company, valued at $2,551,079.70. This trade represents a 1.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Raab sold 41,666 shares of Ardelyx stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $5.84, for a total value of $243,329.44. Following the transaction, the chief executive officer owned 1,816,448 shares of the company's stock, valued at $10,608,056.32. The trade was a 2.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 128,604 shares of company stock worth $751,917 in the last three months. 5.30% of the stock is owned by insiders.

Ardelyx Stock Performance

ARDX stock opened at $6.61 on Wednesday. Ardelyx, Inc. has a 1-year low of $3.21 and a 1-year high of $8.40. The firm has a market cap of $1.63 billion, a P/E ratio of -28.74 and a beta of 0.62. The business's 50 day moving average is $6.09 and its 200-day moving average is $6.23. The company has a current ratio of 3.49, a quick ratio of 3.28 and a debt-to-equity ratio of 1.37.

Ardelyx (NASDAQ:ARDX - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The biopharmaceutical company reported ($0.15) EPS for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.02). Ardelyx had a negative return on equity of 38.11% and a negative net margin of 13.58%.The business had revenue of $94.47 million for the quarter, compared to the consensus estimate of $92.78 million. During the same quarter last year, the company earned ($0.17) earnings per share. The firm's revenue was up 27.5% on a year-over-year basis. Equities analysts anticipate that Ardelyx, Inc. will post -0.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ARDX has been the topic of a number of recent research reports. BTIG Research restated a "buy" rating and issued a $17.00 target price on shares of Ardelyx in a research note on Friday, February 20th. Wedbush restated an "outperform" rating and issued a $19.00 target price on shares of Ardelyx in a research note on Monday, February 23rd. Jefferies Financial Group restated a "buy" rating and issued a $15.00 target price on shares of Ardelyx in a research note on Tuesday, January 27th. TD Cowen restated a "buy" rating on shares of Ardelyx in a research note on Thursday, January 29th. Finally, HC Wainwright boosted their target price on Ardelyx from $10.00 to $18.00 and gave the company a "buy" rating in a research note on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Ardelyx currently has an average rating of "Moderate Buy" and a consensus target price of $15.70.

Ardelyx Profile

Ardelyx, Inc NASDAQ: ARDX is a clinical‐stage biopharmaceutical company focused on discovering, developing and commercializing targeted small molecule drugs for cardio‐renal and gastrointestinal diseases. The company's lead marketed product, tenapanor (sold under the brand name XPHOZAH in the United States), is approved for the treatment of hyperphosphatemia in patients with chronic kidney disease on dialysis. Ardelyx's proprietary approach targets epithelial transporters in the gastrointestinal tract, offering localized activity with limited systemic exposure.

Beyond tenapanor, Ardelyx's development pipeline includes treatments designed to address other complications in kidney disease and related metabolic disorders.

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