Cwm LLC Raises Stock Holdings in Ardelyx, Inc. (NASDAQ:ARDX)

CWM LLC grew its holdings in shares of Ardelyx, Inc. (NASDAQ:ARDX - Free Report) by 4,554.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 79,777 shares of the biopharmaceutical company's stock after purchasing an additional 78,063 shares during the quarter. CWM LLC's holdings in Ardelyx were worth $392,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Ensign Peak Advisors Inc raised its holdings in shares of Ardelyx by 3.1% during the 4th quarter. Ensign Peak Advisors Inc now owns 73,950 shares of the biopharmaceutical company's stock valued at $375,000 after purchasing an additional 2,200 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Ardelyx by 2.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 154,625 shares of the biopharmaceutical company's stock worth $788,000 after acquiring an additional 3,550 shares during the period. Swiss National Bank raised its holdings in Ardelyx by 1.0% in the 4th quarter. Swiss National Bank now owns 463,100 shares of the biopharmaceutical company's stock worth $2,348,000 after acquiring an additional 4,800 shares during the period. Orion Portfolio Solutions LLC raised its holdings in Ardelyx by 42.7% in the 4th quarter. Orion Portfolio Solutions LLC now owns 16,486 shares of the biopharmaceutical company's stock worth $84,000 after acquiring an additional 4,933 shares during the period. Finally, GF Fund Management CO. LTD. bought a new position in Ardelyx in the 4th quarter worth $25,000. Institutional investors own 58.92% of the company's stock.

Insider Buying and Selling at Ardelyx

In other Ardelyx news, insider Mike Kelliher sold 14,522 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $4.08, for a total transaction of $59,249.76. Following the completion of the transaction, the insider owned 282,158 shares in the company, valued at $1,151,204.64. This trade represents a 4.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael Raab sold 46,817 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $4.08, for a total transaction of $191,013.36. Following the transaction, the chief executive officer owned 1,547,937 shares of the company's stock, valued at $6,315,582.96. This represents a 2.94% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 881,377 shares of company stock worth $3,402,411 and have sold 125,143 shares worth $517,667. Company insiders own 4.80% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on ARDX shares. HC Wainwright started coverage on shares of Ardelyx in a report on Wednesday, June 18th. They issued a "buy" rating and a $10.00 target price on the stock. Citigroup dropped their target price 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. Wall Street Zen downgraded shares of Ardelyx from a "hold" rating to a "sell" rating in a report on Monday, May 5th. Finally, Raymond James Financial downgraded shares of Ardelyx from a "strong-buy" rating to an "outperform" rating and set a $11.00 price objective on the stock. in a report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Ardelyx currently has a consensus rating of "Moderate Buy" and an average price target of $10.89.

Ardelyx Trading Down 1.6%

ARDX traded down $0.07 during trading on Friday, reaching $4.29. 3,065,742 shares of the company's stock were exchanged, compared to its average volume of 4,188,561. Ardelyx, Inc. has a one year low of $3.21 and a one year high of $7.18. The company has a current ratio of 4.12, a quick ratio of 3.81 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $1.03 billion, a PE ratio of -19.50 and a beta of 0.60. The firm has a fifty day moving average price of $4.01 and a two-hundred day moving average price of $4.69.

Ardelyx (NASDAQ:ARDX - Get Free Report) last issued its quarterly earnings results 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). Ardelyx had a negative return on equity of 34.45% and a negative net margin of 14.86%. The firm had revenue of $74.11 million during the quarter, compared to analyst estimates of $79.40 million. During the same quarter last year, the firm posted ($0.11) EPS. The firm's revenue for the quarter was up 61.1% on a year-over-year basis. As a group, equities research analysts forecast that Ardelyx, Inc. will post -0.18 earnings per share for the current fiscal year.

About Ardelyx

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.