Personal CFO Solutions LLC Boosts Stock Holdings in Ardelyx, Inc. (NASDAQ:ARDX)

Personal CFO Solutions LLC increased its holdings in shares of Ardelyx, Inc. (NASDAQ:ARDXFree Report) by 26.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 70,000 shares of the biopharmaceutical company’s stock after purchasing an additional 14,765 shares during the period. Personal CFO Solutions LLC’s holdings in Ardelyx were worth $434,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Rubric Capital Management LP lifted its position in Ardelyx by 60.5% during the fourth quarter. Rubric Capital Management LP now owns 4,012,753 shares of the biopharmaceutical company’s stock valued at $24,879,000 after acquiring an additional 1,512,753 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Ardelyx by 154.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 16,298 shares of the biopharmaceutical company’s stock valued at $101,000 after acquiring an additional 9,888 shares during the period. Rafferty Asset Management LLC raised its stake in Ardelyx by 25.3% in the 4th quarter. Rafferty Asset Management LLC now owns 1,375,514 shares of the biopharmaceutical company’s stock worth $8,528,000 after acquiring an additional 277,620 shares during the last quarter. Campbell & CO Investment Adviser LLC grew its stake in Ardelyx by 61.3% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 126,314 shares of the biopharmaceutical company’s stock valued at $783,000 after purchasing an additional 47,991 shares during the last quarter. Finally, TD Asset Management Inc increased its holdings in shares of Ardelyx by 6.3% in the fourth quarter. TD Asset Management Inc now owns 290,936 shares of the biopharmaceutical company’s stock valued at $1,804,000 after purchasing an additional 17,336 shares during the period. Hedge funds and other institutional investors own 58.92% of the company’s stock.

Ardelyx Price Performance

Ardelyx stock opened at $6.45 on Monday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 4.36 and a current ratio of 4.53. The business has a 50 day simple moving average of $7.21 and a 200-day simple moving average of $7.47. Ardelyx, Inc. has a 12 month low of $3.16 and a 12 month high of $10.13.

Ardelyx (NASDAQ:ARDXGet Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.02. The company had revenue of $46.00 million during the quarter, compared to analyst estimates of $36.40 million. Ardelyx had a negative net margin of 41.36% and a negative return on equity of 41.65%. The firm’s revenue was up 303.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.13) EPS. Analysts anticipate that Ardelyx, Inc. will post -0.36 EPS for the current year.

Insider Transactions at Ardelyx

In related news, insider Laura A. Williams sold 145,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $7.12, for a total transaction of $1,032,400.00. Following the completion of the sale, the insider now directly owns 322,152 shares in the company, valued at $2,293,722.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider David P. Rosenbaum sold 17,872 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $7.00, for a total value of $125,104.00. Following the completion of the sale, the insider now owns 158,502 shares of the company’s stock, valued at $1,109,514. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Laura A. Williams sold 145,000 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $7.12, for a total value of $1,032,400.00. Following the transaction, the insider now directly owns 322,152 shares in the company, valued at approximately $2,293,722.24. The disclosure for this sale can be found here. Insiders sold 546,327 shares of company stock valued at $4,318,649 over the last 90 days. Corporate insiders own 5.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ARDX. Wedbush reiterated an “outperform” rating and issued a $15.00 price target on shares of Ardelyx in a report on Friday, May 24th. Piper Sandler reissued an “overweight” rating and set a $15.00 target price on shares of Ardelyx in a report on Friday, May 24th. StockNews.com raised shares of Ardelyx from a “sell” rating to a “hold” rating in a report on Thursday. Leerink Partnrs reaffirmed an “outperform” rating on shares of Ardelyx in a research report on Friday, April 5th. Finally, SVB Leerink began coverage on Ardelyx in a report on Friday, April 5th. They issued an “outperform” rating and a $14.00 price objective for the company. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $12.81.

Read Our Latest Report on ARDX

Ardelyx Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Ardelyx (NASDAQ:ARDX)

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