SG Americas Securities LLC Buys 111,457 Shares of Ardelyx, Inc. (NASDAQ:ARDX)

SG Americas Securities LLC raised its holdings in shares of Ardelyx, Inc. (NASDAQ:ARDX - Free Report) by 203.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 166,343 shares of the biopharmaceutical company's stock after acquiring an additional 111,457 shares during the quarter. SG Americas Securities LLC owned approximately 0.07% of Ardelyx worth $817,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. GF Fund Management CO. LTD. acquired a new stake in shares of Ardelyx during the fourth quarter worth approximately $25,000. SBI Securities Co. Ltd. purchased a new stake in Ardelyx in the 4th quarter worth approximately $41,000. Quarry LP acquired a new stake in shares of Ardelyx during the 4th quarter valued at $51,000. Rehmann Capital Advisory Group acquired a new stake in shares of Ardelyx during the 4th quarter valued at $51,000. Finally, Covestor Ltd grew its holdings in shares of Ardelyx by 287.0% during the 4th quarter. Covestor Ltd now owns 11,315 shares of the biopharmaceutical company's stock valued at $57,000 after acquiring an additional 8,391 shares in the last quarter. Institutional investors and hedge funds own 58.92% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ARDX shares. Piper Sandler upgraded Ardelyx to a "hold" rating in a report on Wednesday, March 12th. LADENBURG THALM/SH SH reaffirmed a "buy" rating and issued a $11.00 target price on shares of Ardelyx in a research report on Friday, March 7th. Wall Street Zen downgraded Ardelyx from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. Citigroup lowered their price target on Ardelyx from $11.00 to $10.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Finally, BTIG Research assumed coverage on Ardelyx in a report on Tuesday, March 4th. They issued a "buy" rating and a $14.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $10.89.

Ardelyx Stock Performance

Shares of Ardelyx stock traded down $0.05 on Friday, reaching $3.56. The stock had a trading volume of 3,483,916 shares, compared to its average volume of 4,529,106. The stock has a market cap of $851.77 million, a P/E ratio of -16.18 and a beta of 0.59. The company has a debt-to-equity ratio of 1.04, a quick ratio of 3.81 and a current ratio of 4.12. Ardelyx, Inc. has a fifty-two week low of $3.21 and a fifty-two week high of $8.06. The business's 50-day moving average price is $4.12 and its two-hundred day moving average price is $4.84.

Ardelyx (NASDAQ:ARDX - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The biopharmaceutical company reported ($0.17) 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 business had revenue of $74.11 million for the quarter, compared to analyst estimates of $79.40 million. During the same quarter last year, the firm earned ($0.11) earnings per share. The firm's quarterly revenue was up 61.1% compared to the same quarter last year. On average, sell-side analysts forecast that Ardelyx, Inc. will post -0.18 EPS for the current year.

Insider Activity at Ardelyx

In other Ardelyx news, Director David M. Mott acquired 200,000 shares of Ardelyx stock in a transaction dated Monday, June 16th. The stock was bought at an average cost of $3.63 per share, with a total value of $726,000.00. Following the acquisition, the director now owns 2,896,871 shares of the company's stock, valued at approximately $10,515,641.73. The trade was a 7.42% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Laura A. Williams sold 6,421 shares of Ardelyx stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $4.08, for a total value of $26,197.68. Following the sale, the insider now directly owns 402,583 shares in the company, valued at $1,642,538.64. The trade was a 1.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 881,377 shares of company stock worth $3,402,411 and sold 166,809 shares worth $708,914. 4.80% of the stock is owned by corporate insiders.

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.