Ardelyx, Inc. $ARDX Shares Sold by Capital Fund Management S.A.

Key Points

• Capital Fund Management S.A. reduced its stake in Ardelyx, Inc. by 29.8%, owning 219,712 shares worth approximately $1,079,000 after selling 93,352 shares in the first quarter.
• Ardelyx's earnings report showed a revenue increase of 23.0% year-over-year, with a reported earnings per share of ($0.08), exceeding analysts' estimates.
• Several analysts have upgraded Ardelyx's stock ratings, with a consensus price target now set at $11.50 and a prevailing average rating of "Buy."

Capital Fund Management S.A. lowered its holdings in shares of Ardelyx, Inc. (NASDAQ:ARDX - Free Report) by 29.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 219,712 shares of the biopharmaceutical company's stock after selling 93,352 shares during the period. Capital Fund Management S.A. owned 0.09% of Ardelyx worth $1,079,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Ensign Peak Advisors Inc lifted its position in Ardelyx by 3.1% during the 4th quarter. Ensign Peak Advisors Inc now owns 73,950 shares of the biopharmaceutical company's stock worth $375,000 after acquiring an additional 2,200 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Ardelyx by 2.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 154,625 shares of the biopharmaceutical company's stock worth $788,000 after purchasing an additional 3,550 shares during the period. GF Fund Management CO. LTD. acquired a new stake in shares of Ardelyx during the fourth quarter worth $25,000. GAMMA Investing LLC lifted its holdings in shares of Ardelyx by 1,342.0% during the first quarter. GAMMA Investing LLC now owns 5,912 shares of the biopharmaceutical company's stock worth $290,000 after purchasing an additional 5,502 shares during the period. Finally, Palisades Investment Partners LLC lifted its stake in shares of Ardelyx by 1.1% in the 1st quarter. Palisades Investment Partners LLC now owns 523,345 shares of the biopharmaceutical company's stock worth $2,569,000 after acquiring an additional 5,564 shares during the period. Institutional investors and hedge funds own 58.92% of the company's stock.

Ardelyx Price Performance

ARDX traded down $0.02 during midday trading on Friday, reaching $6.36. 2,371,514 shares of the company's stock were exchanged, compared to its average volume of 4,457,965. The company has a debt-to-equity ratio of 1.44, a current ratio of 4.30 and a quick ratio of 4.03. Ardelyx, Inc. has a 1-year low of $3.21 and a 1-year high of $7.18. The stock has a market capitalization of $1.53 billion, a PE ratio of -27.65 and a beta of 0.73. The business's 50-day moving average price is $4.84 and its 200 day moving average price is $4.68.

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on ARDX. HC Wainwright began coverage on shares of Ardelyx in a research report on Wednesday, June 18th. They issued a "buy" rating and a $10.00 price objective for the company. Wedbush reissued an "outperform" rating and issued a $14.00 target price (up previously from $13.00) on shares of Ardelyx in a report on Tuesday, August 5th. Piper Sandler raised their price objective on shares of Ardelyx from $8.00 to $9.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Raymond James Financial reiterated an "outperform" rating and issued a $12.00 price objective (up previously from $11.00) on shares of Ardelyx in a research note on Tuesday, August 5th. Finally, UBS Group set a $12.00 price target on shares of Ardelyx in a research report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $11.50.

Insider Buying and Selling

In other news, Director David M. Mott acquired 200,000 shares of the business's stock in a transaction dated Monday, June 16th. The stock was acquired at an average price of $3.63 per share, with a total value of $726,000.00. Following the completion of the transaction, the director directly owned 2,896,871 shares in the company, valued at approximately $10,515,641.73. This represents a 7.42% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Eric Duane Foster sold 15,308 shares of the business's stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $5.93, for a total value of $90,776.44. Following the completion of the transaction, the insider owned 301,498 shares of the company's stock, valued at $1,787,883.14. This trade represents a 4.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 165,551 shares of company stock valued at $996,917. Company insiders own 4.80% of the company's stock.

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.