Valeo Financial Advisors LLC Has $85,000 Holdings in Ardelyx, Inc. (NASDAQ:ARDX)

Valeo Financial Advisors LLC lessened its holdings in shares of Ardelyx, Inc. (NASDAQ:ARDX) by 15.0% during the 4th quarter, HoldingsChannel reports. The fund owned 13,650 shares of the biopharmaceutical company’s stock after selling 2,400 shares during the period. Valeo Financial Advisors LLC’s holdings in Ardelyx were worth $85,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. FMR LLC grew its stake in shares of Ardelyx by 235.9% in the 1st quarter. FMR LLC now owns 5,733 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 4,026 shares in the last quarter. HighTower Advisors LLC bought a new stake in shares of Ardelyx in the 4th quarter valued at approximately $35,000. Willis Johnson & Associates Inc. bought a new stake in shares of Ardelyx in the 3rd quarter valued at approximately $41,000. Redwood Wealth Management Group LLC bought a new stake in shares of Ardelyx in the 3rd quarter valued at approximately $43,000. Finally, Great West Life Assurance Co. Can bought a new stake in shares of Ardelyx in the 1st quarter valued at approximately $44,000. Hedge funds and other institutional investors own 58.92% of the company’s stock.

Ardelyx Stock Down 1.3 %

ARDX opened at $6.71 on Wednesday. Ardelyx, Inc. has a 1-year low of $3.16 and a 1-year high of $10.13. The company has a current ratio of 4.88, a quick ratio of 4.64 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of -22.37 and a beta of 0.86. The business has a 50 day moving average of $8.30 and a 200-day moving average of $6.57.

Ardelyx (NASDAQ:ARDX) last posted its quarterly earnings data on Thursday, February 22nd. The biopharmaceutical company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.03). Ardelyx had a negative net margin of 53.08% and a negative return on equity of 43.57%. The business had revenue of $34.36 million during the quarter, compared to the consensus estimate of $34.26 million. During the same period in the prior year, the company posted $0.06 earnings per share. The firm’s revenue was down 22.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ardelyx, Inc. will post -0.44 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Elizabeth A. Grammer sold 86,000 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $7.73, for a total value of $664,780.00. Following the completion of the transaction, the insider now directly owns 312,993 shares of the company’s stock, valued at $2,419,435.89. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Elizabeth A. Grammer sold 86,000 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $7.73, for a total value of $664,780.00. Following the completion of the transaction, the insider now directly owns 312,993 shares of the company’s stock, valued at $2,419,435.89. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Justin A. Renz sold 5,341 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $8.75, for a total value of $46,733.75. Following the completion of the transaction, the chief financial officer now directly owns 304,835 shares of the company’s stock, valued at $2,667,306.25. The disclosure for this sale can be found here. Insiders sold a total of 141,320 shares of company stock valued at $1,155,574 over the last ninety days. 5.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ARDX. Raymond James increased their price target on Ardelyx from $12.00 to $15.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 9th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Ardelyx in a report on Friday, January 12th. Citigroup increased their price target on Ardelyx from $9.00 to $14.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. SVB Leerink began coverage on Ardelyx in a report on Friday, April 5th. They set an “outperform” rating and a $14.00 price target on the stock. Finally, Piper Sandler increased their price target on Ardelyx from $12.00 to $15.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Ardelyx presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.56.

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.