Schonfeld Strategic Advisors LLC Sells 169,684 Shares of Ardelyx, Inc. (NASDAQ:ARDX)

Schonfeld Strategic Advisors LLC decreased its position in shares of Ardelyx, Inc. (NASDAQ:ARDX - Free Report) by 56.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 131,200 shares of the biopharmaceutical company's stock after selling 169,684 shares during the quarter. Schonfeld Strategic Advisors LLC owned about 0.06% of Ardelyx worth $665,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Newbridge Financial Services Group Inc. bought a new position in Ardelyx in the 4th quarter worth $35,000. SBI Securities Co. Ltd. purchased a new position in shares of Ardelyx in the fourth quarter worth about $41,000. Quarry LP purchased a new position in Ardelyx during the fourth quarter worth approximately $51,000. Covestor Ltd increased its stake 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 acquiring an additional 8,391 shares during the last quarter. Finally, Sheets Smith Investment Management acquired a new stake in Ardelyx during the 4th quarter worth approximately $58,000. Institutional investors own 58.92% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on ARDX shares. Piper Sandler raised shares of Ardelyx to a "hold" rating in a research note on Wednesday, March 12th. Raymond James downgraded 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. Citigroup dropped their price objective on Ardelyx from $11.00 to $10.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. LADENBURG THALM/SH SH restated a "buy" rating and issued a $11.00 target price on shares of Ardelyx in a research note on Friday, March 7th. Finally, Cantor Fitzgerald upgraded shares of Ardelyx to a "strong-buy" rating in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $10.39.

Ardelyx Stock Up 1.7%

Shares of NASDAQ ARDX traded up $0.06 during midday trading on Thursday, hitting $3.34. The company's stock had a trading volume of 1,495,143 shares, compared to its average volume of 4,392,696. The firm has a market capitalization of $797.92 million, a price-to-earnings ratio of -20.66 and a beta of 0.76. The business's fifty day simple moving average is $4.74 and its two-hundred day simple moving average is $5.13. Ardelyx, Inc. has a 1 year low of $3.22 and a 1 year high of $8.06. The company has a debt-to-equity ratio of 0.87, a current ratio of 4.58 and a quick ratio of 4.31.

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

Insider Transactions at Ardelyx

In other Ardelyx news, CEO Michael Raab sold 22,964 shares of the firm's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $5.62, for a total transaction of $129,057.68. Following the transaction, the chief executive officer now owns 1,085,755 shares in the company, valued at $6,101,943.10. This trade represents a 2.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Laura A. Williams sold 4,941 shares of the business's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $5.62, for a total transaction of $27,768.42. Following the completion of the sale, the insider now directly owns 303,804 shares in the company, valued at approximately $1,707,378.48. This represents a 1.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 158,076 shares of company stock valued at $777,555 over the last three months. Company insiders own 5.90% of the company's stock.

Ardelyx Company 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.