Dynamic Technology Lab Private Ltd Makes New Investment in Ardelyx, Inc. $ARDX

Key Points

• Dynamic Technology Lab Private Ltd has made a new investment in Ardelyx, Inc. by purchasing 137,123 shares valued at approximately $673,000.
• Ardelyx's recent earnings report showed a revenue of $97.66 million, surpassing analyst expectations and representing a 23% increase year-over-year.
• Several institutional investors have significantly increased their stakes in Ardelyx, with 58.92% of the stock currently owned by institutional investors.

Dynamic Technology Lab Private Ltd acquired a new stake in shares of Ardelyx, Inc. (NASDAQ:ARDX - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 137,123 shares of the biopharmaceutical company's stock, valued at approximately $673,000. Dynamic Technology Lab Private Ltd owned 0.06% of Ardelyx as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in ARDX. GF Fund Management CO. LTD. purchased a new stake in shares of Ardelyx during the fourth quarter valued at approximately $25,000. Cyndeo Wealth Partners LLC purchased a new stake in shares of Ardelyx during the first quarter valued at approximately $49,000. Focus Partners Advisor Solutions LLC purchased a new stake in shares of Ardelyx during the first quarter valued at approximately $56,000. Merit Financial Group LLC acquired a new stake in shares of Ardelyx during the first quarter worth approximately $75,000. Finally, World Equity Group Inc. acquired a new stake in shares of Ardelyx during the first quarter worth approximately $85,000. Hedge funds and other institutional investors own 58.92% of the company's stock.

Insider Activity at Ardelyx

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

Ardelyx Stock Performance

Ardelyx stock traded down $0.07 during mid-day trading on Friday, reaching $6.61. The company's stock had a trading volume of 2,350,061 shares, compared to its average volume of 3,233,876. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of -28.74 and a beta of 0.74. The business has a 50 day moving average price of $5.37 and a 200-day moving average price of $4.75. The company has a current ratio of 4.30, a quick ratio of 4.03 and a debt-to-equity ratio of 1.44. Ardelyx, Inc. has a twelve month low of $3.21 and a twelve month high of $7.18.

Ardelyx (NASDAQ:ARDX - Get Free Report) last released 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. The firm had revenue of $97.66 million during the quarter, compared to the consensus estimate of $82.69 million. Ardelyx had a negative net margin of 14.60% and a negative return on equity of 36.57%. The firm's revenue was up 23.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.07) earnings per share. Sell-side analysts predict that Ardelyx, Inc. will post -0.18 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ARDX. Wall Street Zen raised shares of Ardelyx from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Wedbush restated an "outperform" rating and issued a $14.00 target price (up previously from $13.00) on shares of Ardelyx in a research note on Tuesday, August 5th. Piper Sandler upped their target price 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 began coverage on shares of Ardelyx in a research note on Wednesday, September 3rd. They issued a "strong-buy" rating and a $14.00 target price on the stock. Finally, HC Wainwright began coverage on shares of Ardelyx in a research note on Wednesday, June 18th. They issued a "buy" rating and a $10.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $11.70.

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.