Ardelyx, Inc. (NASDAQ:ARDX) Shares Purchased by Two Sigma Advisers LP

Two Sigma Advisers LP raised its position in shares of Ardelyx, Inc. (NASDAQ:ARDX - Free Report) by 206.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 593,700 shares of the biopharmaceutical company's stock after buying an additional 400,100 shares during the quarter. Two Sigma Advisers LP owned about 0.25% of Ardelyx worth $3,010,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of ARDX. Janus Henderson Group PLC raised its position in Ardelyx by 13.3% in the 4th quarter. Janus Henderson Group PLC now owns 24,387,941 shares of the biopharmaceutical company's stock worth $123,587,000 after buying an additional 2,858,061 shares during the last quarter. Two Seas Capital LP purchased a new stake in Ardelyx in the 4th quarter worth $9,407,000. Rock Springs Capital Management LP purchased a new stake in Ardelyx in the 4th quarter worth $7,421,000. D. E. Shaw & Co. Inc. raised its position in shares of Ardelyx by 9,499.8% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,468,668 shares of the biopharmaceutical company's stock valued at $7,446,000 after buying an additional 1,453,369 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Ardelyx during the 4th quarter valued at about $6,762,000. 58.92% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ARDX has been the topic of a number of recent analyst reports. HC Wainwright reissued a "neutral" rating and issued a $5.50 price objective on shares of Ardelyx in a research report on Friday, February 21st. Raymond James 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 research note on Friday, May 2nd. Scotiabank started coverage on shares of Ardelyx in a research report on Friday, March 7th. They set a "sector outperform" rating and a $15.00 target price for the company. Piper Sandler raised shares of Ardelyx to a "hold" rating in a report on Wednesday, March 12th. Finally, LADENBURG THALM/SH SH reissued a "buy" rating and set a $11.00 target price on shares of Ardelyx in a report on Friday, March 7th. One equities research 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 company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $10.39.

Insiders Place Their Bets

In other news, Director David M. Mott purchased 381,377 shares of the firm's stock in a transaction on Friday, May 2nd. The shares were bought at an average cost of $4.22 per share, with a total value of $1,609,410.94. Following the purchase, the director now directly owns 2,396,871 shares of the company's stock, valued at approximately $10,114,795.62. This trade represents a 18.92% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Raab sold 41,666 shares of the firm's stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $4.59, for a total transaction of $191,246.94. Following the sale, the chief executive officer now directly owns 1,615,587 shares in the company, valued at $7,415,544.33. This represents a 2.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 208,477 shares of company stock worth $932,254. 4.80% of the stock is owned by insiders.

Ardelyx Stock Up 3.1%

ARDX traded up $0.12 during trading hours on Thursday, hitting $4.03. 3,391,061 shares of the company's stock were exchanged, compared to its average volume of 4,441,301. The company has a current ratio of 4.58, a quick ratio of 4.31 and a debt-to-equity ratio of 0.87. Ardelyx, Inc. has a 12-month low of $3.21 and a 12-month high of $8.06. The firm has a market cap of $964.20 million, a P/E ratio of -25.19 and a beta of 0.76. The firm has a 50 day moving average of $4.44 and a 200 day moving average of $4.99.

Ardelyx (NASDAQ:ARDX - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The biopharmaceutical company reported ($0.17) EPS for the quarter, missing the consensus estimate 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 business had revenue of $74.11 million during the quarter, compared to analysts' expectations of $79.40 million. During the same quarter last year, the company earned ($0.11) EPS. The firm's revenue for the quarter was up 61.1% compared to the same quarter last year. Analysts predict that Ardelyx, Inc. will post -0.18 EPS 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.