Xponance Inc. Has $87,000 Position in Ardelyx, Inc. (NASDAQ:ARDX)

Xponance Inc. increased its holdings in shares of Ardelyx, Inc. (NASDAQ:ARDX) by 12.6% during the fourth quarter, Holdings Channel reports. The fund owned 14,112 shares of the biopharmaceutical company’s stock after acquiring an additional 1,575 shares during the quarter. Xponance Inc.’s holdings in Ardelyx were worth $87,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the business. Willis Johnson & Associates Inc. acquired a new position in Ardelyx in the 3rd quarter valued at $41,000. SJS Investment Consulting Inc. acquired a new position in Ardelyx in the 4th quarter valued at $62,000. Sherbrooke Park Advisers LLC acquired a new position in Ardelyx in the 3rd quarter valued at $63,000. Vontobel Holding Ltd. acquired a new position in Ardelyx in the 4th quarter valued at $74,000. Finally, Laurion Capital Management LP acquired a new position in Ardelyx in the 3rd quarter valued at $81,000. 58.92% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ARDX has been the topic of a number of research reports. Wedbush upped their price objective on Ardelyx from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Wednesday, April 17th. StockNews.com downgraded Ardelyx from a “hold” rating to a “sell” rating in a research report on Monday, February 26th. SVB Leerink began coverage on Ardelyx in a research report on Friday, April 5th. They set an “outperform” rating and a $14.00 target price for the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Ardelyx in a research report on Friday, January 12th. Finally, Citigroup upped their target price on Ardelyx from $9.00 to $14.00 and gave the company a “buy” rating in a research report on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $12.69.

Ardelyx Price Performance

Shares of ARDX stock opened at $6.42 on Monday. The company has a quick ratio of 4.64, a current ratio of 4.88 and a debt-to-equity ratio of 0.30. Ardelyx, Inc. has a twelve month low of $3.16 and a twelve month high of $10.13. The company has a market cap of $1.49 billion, a P/E ratio of -21.40 and a beta of 0.85. The business has a fifty day simple moving average of $7.85 and a 200 day simple moving average of $6.71.

Ardelyx (NASDAQ:ARDX) last announced 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 return on equity of 43.57% and a negative net margin of 53.08%. The business had revenue of $34.36 million for the quarter, compared to the consensus estimate of $34.26 million. During the same quarter in the prior year, the company earned $0.06 earnings per share. Ardelyx’s quarterly revenue was down 22.2% compared to the same quarter last year. On average, sell-side analysts forecast that Ardelyx, Inc. will post -0.44 EPS for the current fiscal year.

Insider Buying and Selling at Ardelyx

In other Ardelyx news, insider David P. Rosenbaum sold 5,183 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $9.20, for a total value of $47,683.60. Following the completion of the transaction, the insider now directly owns 175,936 shares in the company, valued at $1,618,611.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Ardelyx news, CEO Michael Raab sold 7,500 shares of the stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $7.06, for a total value of $52,950.00. Following the completion of the transaction, the chief executive officer now directly owns 1,310,933 shares in the company, valued at $9,255,186.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David P. Rosenbaum sold 5,183 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $9.20, for a total value of $47,683.60. Following the completion of the transaction, the insider now owns 175,936 shares of the company’s stock, valued at $1,618,611.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 148,820 shares of company stock worth $1,208,524. 5.50% of the stock is currently owned by 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.