MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Boosts Holdings in Ardelyx, Inc. (NASDAQ:ARDX)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Ardelyx, Inc. (NASDAQ:ARDX) by 2.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 154,625 shares of the biopharmaceutical company’s stock after buying an additional 3,550 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.07% of Ardelyx worth $788,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. purchased a new position in shares of Ardelyx during the 4th quarter worth $35,000. SBI Securities Co. Ltd. purchased a new position in shares of Ardelyx during the 4th quarter worth approximately $41,000. Quarry LP acquired a new stake in Ardelyx in the 4th quarter valued at approximately $51,000. Rehmann Capital Advisory Group purchased a new stake in Ardelyx in the fourth quarter valued at approximately $51,000. Finally, Covestor Ltd boosted its position in shares of Ardelyx by 287.0% during the fourth quarter. Covestor Ltd now owns 11,315 shares of the biopharmaceutical company’s stock worth $57,000 after buying an additional 8,391 shares during the period. 58.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Ardelyx

In related news, CFO Justin A. Renz sold 7,218 shares of the business’s stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $4.08, for a total value of $29,449.44. Following the completion of the sale, the chief financial officer now directly owns 416,089 shares of the company’s stock, valued at $1,697,643.12. The trade was a 1.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Raab sold 41,668 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $5.36, for a total transaction of $223,340.48. Following the completion of the transaction, the chief executive officer now owns 1,635,138 shares of the company’s stock, valued at $8,764,339.68. This represents a 2.48% decrease in their position. The disclosure for this sale can be found here. Insiders sold 208,477 shares of company stock valued at $932,254 over the last three months. 4.80% of the stock is owned by corporate insiders.

Ardelyx Stock Performance

NASDAQ:ARDX opened at $3.97 on Tuesday. Ardelyx, Inc. has a 12 month low of $3.21 and a 12 month high of $8.06. 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 has a market capitalization of $949.84 million, a PE ratio of -24.81 and a beta of 0.76. The business’s fifty day moving average price is $4.50 and its 200 day moving average price is $5.01.

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

Wall Street Analyst Weigh In

ARDX has been the topic of several research analyst reports. Cantor Fitzgerald upgraded Ardelyx to a “strong-buy” rating in a report on Tuesday, March 4th. BTIG Research began coverage on shares of Ardelyx in a research report on Tuesday, March 4th. They set a “buy” rating and a $14.00 price target on the stock. Scotiabank assumed coverage on shares of Ardelyx in a report on Friday, March 7th. They issued a “sector outperform” rating and a $15.00 price objective for the company. LADENBURG THALM/SH SH reiterated a “buy” rating and issued a $11.00 target price on shares of Ardelyx in a report on Friday, March 7th. Finally, Piper Sandler raised Ardelyx to a “hold” rating in a research note on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $10.39.

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.