Ardelyx, Inc. (NASDAQ:ARDX) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. trimmed its holdings in Ardelyx, Inc. (NASDAQ:ARDX) by 22.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,768 shares of the biopharmaceutical company’s stock after selling 3,055 shares during the period. Russell Investments Group Ltd.’s holdings in Ardelyx were worth $55,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analyst Weigh In

ARDX has been the topic of several recent research reports. LADENBURG THALM/SH SH reissued a “buy” rating and set a $11.00 price target on shares of Ardelyx in a research report on Friday, March 7th. HC Wainwright reiterated a “neutral” rating and issued a $5.50 target price on shares of Ardelyx in a report on Friday, February 21st. Cantor Fitzgerald upgraded shares of Ardelyx to a “strong-buy” rating in a report on Tuesday, March 4th. Scotiabank assumed coverage on Ardelyx in a report on Friday, March 7th. They issued a “sector outperform” rating and a $15.00 price objective on the stock. Finally, Piper Sandler raised Ardelyx to a “hold” rating in a research note on Wednesday, March 12th. Three analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $10.61.

Ardelyx Stock Up 4.8 %

Shares of NASDAQ:ARDX opened at $5.26 on Friday. The firm has a market capitalization of $1.25 billion, a PE ratio of -32.88 and a beta of 0.81. Ardelyx, Inc. has a 1 year low of $4.02 and a 1 year high of $9.33. The company has a debt-to-equity ratio of 0.87, a current ratio of 4.58 and a quick ratio of 4.31. The firm’s 50-day moving average is $5.04 and its two-hundred day moving average is $5.28.

Ardelyx (NASDAQ:ARDX) last announced its earnings results on Thursday, February 20th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, hitting 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 firm had revenue of $116.13 million for the quarter, compared to the consensus estimate of $111.16 million. Analysts predict that Ardelyx, Inc. will post -0.18 EPS for the current year.

Insider Activity at Ardelyx

In related news, CEO Michael Raab sold 41,666 shares of Ardelyx stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $4.59, for a total value of $191,246.94. Following the completion of the transaction, the chief executive officer now owns 1,615,587 shares in the company, valued at $7,415,544.33. The trade was a 2.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Laura A. Williams sold 4,941 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $5.62, for a total transaction of $27,768.42. Following the completion of the sale, the insider now directly owns 303,804 shares in the company, valued at approximately $1,707,378.48. This represents a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 158,076 shares of company stock worth $823,804. Company insiders own 5.90% of the company’s stock.

Ardelyx 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.