Deutsche Bank AG Has $1.66 Million Stock Holdings in Ardelyx, Inc. (NASDAQ:ARDX)

Deutsche Bank AG boosted its holdings in shares of Ardelyx, Inc. (NASDAQ:ARDX - Free Report) by 25.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 327,900 shares of the biopharmaceutical company's stock after purchasing an additional 66,253 shares during the quarter. Deutsche Bank AG owned approximately 0.14% of Ardelyx worth $1,662,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ARDX. Newbridge Financial Services Group Inc. bought a new stake in shares of Ardelyx in the fourth quarter worth $35,000. SBI Securities Co. Ltd. bought a new stake in shares of Ardelyx in the fourth quarter worth $41,000. Quarry LP bought a new stake in shares of Ardelyx in the 4th quarter worth about $51,000. Rehmann Capital Advisory Group bought a new stake in shares of Ardelyx in the 4th quarter worth about $51,000. Finally, Covestor Ltd increased its position in shares of Ardelyx by 287.0% in the 4th quarter. Covestor Ltd now owns 11,315 shares of the biopharmaceutical company's stock worth $57,000 after purchasing an additional 8,391 shares during the last quarter. 58.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ARDX shares. Piper Sandler raised shares of Ardelyx to a "hold" rating in a research report on Wednesday, March 12th. BTIG Research began coverage on Ardelyx in a report on Tuesday, March 4th. They set a "buy" rating and a $14.00 target price for the company. Raymond James downgraded Ardelyx from a "strong-buy" rating to an "outperform" rating and set a $11.00 price objective for the company. in a research note on Friday, May 2nd. Wall Street Zen downgraded Ardelyx from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. Finally, LADENBURG THALM/SH SH restated a "buy" rating and issued a $11.00 target price on shares of Ardelyx in a research report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Ardelyx has a consensus rating of "Moderate Buy" and an average price target of $10.39.

Insider Buying and Selling

In other Ardelyx news, CEO Michael Raab sold 41,668 shares of Ardelyx stock in a transaction on Friday, March 7th. The shares were sold at an average price of $5.36, for a total transaction of $223,340.48. Following the completion of the sale, the chief executive officer now owns 1,635,138 shares of the company's stock, valued at $8,764,339.68. This trade represents a 2.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Mike Kelliher sold 14,522 shares of Ardelyx stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $4.08, for a total transaction of $59,249.76. Following the sale, the insider now directly owns 282,158 shares of the company's stock, valued at $1,151,204.64. This trade represents a 4.89% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 208,477 shares of company stock valued at $932,254. Company insiders own 4.80% of the company's stock.

Ardelyx Price Performance

Shares of ARDX traded down $0.02 during trading hours on Wednesday, hitting $3.96. 1,539,293 shares of the company were exchanged, compared to its average volume of 4,437,906. The company has a market capitalization of $946.25 million, a PE ratio of -24.72 and a beta of 0.76. The company has a debt-to-equity ratio of 0.87, a current ratio of 4.58 and a quick ratio of 4.31. The firm has a fifty day simple moving average of $4.47 and a 200-day simple moving average of $5.00. Ardelyx, Inc. has a one year low of $3.21 and a one year high of $8.06.

Ardelyx (NASDAQ:ARDX - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.07). Ardelyx had a negative net margin of 11.73% and a negative return on equity of 24.87%. The company had revenue of $74.11 million during the quarter, compared to analyst estimates of $79.40 million. During the same quarter last year, the business earned ($0.11) EPS. The company's revenue for the quarter was up 61.1% compared to the same quarter last year. As a group, sell-side analysts predict that Ardelyx, Inc. will post -0.18 earnings per share for the current year.

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.