Victory Capital Management Inc. lowered its holdings in Ardelyx, Inc. (NASDAQ:ARDX – Free Report) by 93.5% in the second quarter, Holdings Channel.com reports. The fund owned 20,873 shares of the biopharmaceutical company’s stock after selling 302,596 shares during the quarter. Victory Capital Management Inc.’s holdings in Ardelyx were worth $71,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of ARDX. FMR LLC lifted its holdings in Ardelyx by 235.9% in the first quarter. FMR LLC now owns 5,733 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 4,026 shares during the period. HighTower Advisors LLC acquired a new stake in Ardelyx in the fourth quarter valued at $35,000. Xponance Inc. acquired a new stake in Ardelyx in the second quarter valued at $42,000. Great West Life Assurance Co. Can acquired a new stake in Ardelyx in the first quarter valued at $44,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in Ardelyx in the fourth quarter valued at $44,000. Institutional investors and hedge funds own 58.19% of the company’s stock.
Ardelyx Trading Down 0.5 %
Ardelyx stock opened at $4.00 on Tuesday. The stock has a market cap of $928.56 million, a PE ratio of -33.33 and a beta of 1.04. The stock has a 50-day moving average price of $4.04 and a 200 day moving average price of $3.89. Ardelyx, Inc. has a 52 week low of $1.16 and a 52 week high of $5.13. The company has a current ratio of 5.54, a quick ratio of 2.50 and a debt-to-equity ratio of 0.14.
Insider Buying and Selling
Analyst Upgrades and Downgrades
ARDX has been the subject of a number of recent analyst reports. LADENBURG THALM/SH SH raised their target price on Ardelyx from $7.50 to $8.50 and gave the company a “buy” rating in a report on Thursday, August 3rd. StockNews.com assumed coverage on Ardelyx in a research report on Thursday, October 5th. They issued a “hold” rating for the company. HC Wainwright raised their price target on Ardelyx from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Wednesday, November 1st. Cantor Fitzgerald upgraded Ardelyx from a “neutral” rating to an “overweight” rating and raised their price target for the company from $5.00 to $10.00 in a research report on Friday, August 25th. Finally, Wedbush restated an “outperform” rating and issued a $7.00 price target on shares of Ardelyx in a research report on Wednesday, September 13th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.58.
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.
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