Deutsche Bank AG Boosts Position in Ardelyx, Inc. (NASDAQ:ARDX)

Deutsche Bank AG increased its position in shares of Ardelyx, Inc. (NASDAQ:ARDX) by 25.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 327,900 shares of the biopharmaceutical company’s stock after acquiring an additional 66,253 shares during the quarter. Deutsche Bank AG owned approximately 0.14% of Ardelyx worth $1,662,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Newbridge Financial Services Group Inc. purchased a new position in Ardelyx during the fourth quarter worth about $35,000. SBI Securities Co. Ltd. acquired a new stake in shares of Ardelyx during the 4th quarter worth approximately $41,000. Quarry LP purchased a new stake in shares of Ardelyx during the 4th quarter valued at approximately $51,000. Rehmann Capital Advisory Group acquired a new position in Ardelyx in the fourth quarter valued at approximately $51,000. Finally, Covestor Ltd lifted its holdings in Ardelyx by 287.0% in the fourth quarter. Covestor Ltd now owns 11,315 shares of the biopharmaceutical company’s stock valued at $57,000 after acquiring an additional 8,391 shares during the last quarter. Hedge funds and other institutional investors own 58.92% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ARDX shares. Piper Sandler raised Ardelyx to a “hold” rating in a research note on Wednesday, March 12th. Wall Street Zen lowered shares of Ardelyx from a “hold” rating to a “sell” rating in a report on Monday, May 5th. Scotiabank assumed coverage on shares of Ardelyx in a research note on Friday, March 7th. They set a “sector outperform” rating and a $15.00 target price for the company. LADENBURG THALM/SH SH reiterated a “buy” rating and set a $11.00 price target on shares of Ardelyx in a research report on Friday, March 7th. Finally, Cantor Fitzgerald upgraded shares of Ardelyx to a “strong-buy” rating in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.39.

Insider Transactions at Ardelyx

In other news, CEO Michael Raab sold 46,817 shares of Ardelyx stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $4.08, for a total value of $191,013.36. Following the completion of the transaction, the chief executive officer now owns 1,547,937 shares in the company, valued at approximately $6,315,582.96. This trade represents a 2.94% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David M. Mott acquired 381,377 shares of the stock in a transaction dated Friday, May 2nd. The shares were bought at an average cost of $4.22 per share, with a total value of $1,609,410.94. Following the completion of the transaction, the director now owns 2,396,871 shares of the company’s stock, valued at approximately $10,114,795.62. This represents a 18.92% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 559,106 shares of company stock valued at $2,327,056 and have sold 208,477 shares valued at $932,254. Corporate insiders own 4.80% of the company’s stock.

Ardelyx Trading Up 0.3%

NASDAQ ARDX opened at $3.97 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 4.31 and a current ratio of 4.58. The firm has a market cap of $949.84 million, a price-to-earnings ratio of -24.81 and a beta of 0.76. The firm has a 50 day simple moving average of $4.53 and a 200-day simple moving average of $5.04. Ardelyx, Inc. has a one year low of $3.21 and a one year high of $8.06.

Ardelyx (NASDAQ:ARDX) last released its earnings results on Thursday, May 1st. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.07). Ardelyx had a negative return on equity of 24.87% and a negative net margin of 11.73%. The business had revenue of $74.11 million for the quarter, compared to analyst estimates of $79.40 million. During the same quarter last year, the company earned ($0.11) earnings per share. Ardelyx’s quarterly revenue was up 61.1% compared to the same quarter last year. Equities research analysts anticipate that Ardelyx, Inc. will post -0.18 EPS for the current fiscal year.

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.