Geode Capital Management LLC Acquires 21,988 Shares of Ardelyx, Inc. (NASDAQ:ARDX)

Geode Capital Management LLC increased its holdings in shares of Ardelyx, Inc. (NASDAQ:ARDX) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,509,730 shares of the biopharmaceutical company’s stock after acquiring an additional 21,988 shares during the quarter. Geode Capital Management LLC owned approximately 2.33% of Ardelyx worth $27,941,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Newbridge Financial Services Group Inc. purchased a new stake in shares of Ardelyx during the 4th quarter valued at $35,000. SBI Securities Co. Ltd. bought a new stake in Ardelyx in the fourth quarter worth about $41,000. Sheets Smith Investment Management purchased a new position in Ardelyx in the fourth quarter valued at about $58,000. KBC Group NV grew its position in shares of Ardelyx by 101.8% during the 4th quarter. KBC Group NV now owns 13,706 shares of the biopharmaceutical company’s stock valued at $69,000 after acquiring an additional 6,915 shares during the period. Finally, Orion Portfolio Solutions LLC increased its stake in shares of Ardelyx by 42.7% during the 4th quarter. Orion Portfolio Solutions LLC now owns 16,486 shares of the biopharmaceutical company’s stock worth $84,000 after purchasing an additional 4,933 shares during the last quarter. 58.92% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Michael Raab sold 41,666 shares of Ardelyx stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $4.59, for a total transaction of $191,246.94. Following the completion of the sale, the chief executive officer now owns 1,615,587 shares in the company, valued at approximately $7,415,544.33. This trade represents a 2.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David M. Mott acquired 77,729 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was bought at an average price of $5.00 per share, for a total transaction of $388,645.00. Following the completion of the transaction, the director now owns 2,015,494 shares of the company’s stock, valued at $10,077,470. The trade was a 4.01 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 158,076 shares of company stock worth $823,804 in the last three months. Corporate insiders own 5.90% of the company’s stock.

Ardelyx Trading Up 4.8 %

Shares of ARDX opened at $4.82 on Friday. Ardelyx, Inc. has a twelve month low of $4.02 and a twelve month high of $9.33. The stock has a market cap of $1.15 billion, a PE ratio of -30.13 and a beta of 0.81. The company has a quick ratio of 4.31, a current ratio of 4.58 and a debt-to-equity ratio of 0.87. The business’s 50-day moving average price is $5.14 and its 200-day moving average price is $5.35.

Ardelyx (NASDAQ:ARDX) last issued its quarterly earnings data on Thursday, February 20th. The biopharmaceutical company reported $0.02 EPS for the quarter, meeting the consensus estimate of $0.02. Ardelyx had a negative net margin of 11.73% and a negative return on equity of 24.87%. The company had revenue of $116.13 million during the quarter, compared to analysts’ expectations of $111.16 million. On average, equities analysts forecast that Ardelyx, Inc. will post -0.18 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on ARDX shares. HC Wainwright reiterated a “neutral” rating and issued a $5.50 price objective on shares of Ardelyx in a research note on Friday, February 21st. Piper Sandler raised Ardelyx to a “hold” rating in a research report on Wednesday, March 12th. Cantor Fitzgerald upgraded Ardelyx to a “strong-buy” rating in a research note on Tuesday, March 4th. LADENBURG THALM/SH SH restated a “buy” rating and issued a $11.00 price objective on shares of Ardelyx in a research note on Friday, March 7th. Finally, Jefferies Financial Group dropped their price objective on shares of Ardelyx from $11.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.61.

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.