Rhumbline Advisers Acquires 13,312 Shares of Ardelyx, Inc. (NASDAQ:ARDX)

Rhumbline Advisers increased its holdings in Ardelyx, Inc. (NASDAQ:ARDX) by 4.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 339,436 shares of the biopharmaceutical company’s stock after acquiring an additional 13,312 shares during the quarter. Rhumbline Advisers owned about 0.14% of Ardelyx worth $1,667,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. GF Fund Management CO. LTD. bought a new stake in Ardelyx during the 4th quarter valued at approximately $25,000. SBI Securities Co. Ltd. purchased a new position in shares of Ardelyx in the 4th quarter valued at approximately $41,000. Quarry LP bought a new stake in shares of Ardelyx during the fourth quarter valued at approximately $51,000. Rehmann Capital Advisory Group bought a new stake in shares of Ardelyx during the fourth quarter valued at approximately $51,000. Finally, Covestor Ltd grew its stake in Ardelyx by 287.0% in the fourth quarter. Covestor Ltd now owns 11,315 shares of the biopharmaceutical company’s stock worth $57,000 after purchasing an additional 8,391 shares during the period. Institutional investors own 58.92% of the company’s stock.

Ardelyx Price Performance

NASDAQ ARDX opened at $3.55 on Wednesday. The company has a current ratio of 4.12, a quick ratio of 3.81 and a debt-to-equity ratio of 1.04. Ardelyx, Inc. has a 12 month low of $3.21 and a 12 month high of $8.06. The stock has a market cap of $849.37 million, a price-to-earnings ratio of -16.14 and a beta of 0.59. The company’s 50 day moving average is $4.15 and its two-hundred day moving average is $4.86.

Ardelyx (NASDAQ:ARDX) last posted its quarterly earnings results 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 14.86% and a negative return on equity of 34.45%. The business had revenue of $74.11 million for the quarter, compared to the consensus estimate of $79.40 million. During the same period in the prior year, the business earned ($0.11) earnings per share. Ardelyx’s revenue was up 61.1% compared to the same quarter last year. As a group, research analysts anticipate that Ardelyx, Inc. will post -0.18 earnings per share for the current year.

Analyst Ratings Changes

ARDX has been the topic of a number of analyst reports. HC Wainwright reissued a “neutral” rating and issued a $5.50 price target on shares of Ardelyx in a research report on Friday, February 21st. BTIG Research began coverage on shares of Ardelyx in a report on Tuesday, March 4th. They set a “buy” rating and a $14.00 price target on the stock. Scotiabank began coverage on shares of Ardelyx in a research report on Friday, March 7th. They set a “sector outperform” rating and a $15.00 price target for the company. Raymond James Financial cut Ardelyx from a “strong-buy” rating to an “outperform” rating and set a $11.00 price objective on the stock. in a research report on Friday, May 2nd. Finally, LADENBURG THALM/SH SH reissued a “buy” rating and issued a $11.00 target price on shares of Ardelyx in a report on Friday, March 7th. One 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $10.39.

Insider Buying and Selling

In other news, CFO Justin A. Renz sold 7,218 shares of the company’s stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $4.08, for a total transaction of $29,449.44. Following the sale, the chief financial officer now directly owns 416,089 shares of the company’s stock, valued at $1,697,643.12. This represents a 1.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David M. Mott acquired 200,000 shares of the stock in a transaction on Monday, June 9th. The shares were acquired at an average price of $3.69 per share, with a total value of $738,000.00. Following the transaction, the director now directly owns 2,696,871 shares of the company’s stock, valued at $9,951,453.99. The trade was a 8.01% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 681,377 shares of company stock worth $2,676,411 and sold 166,809 shares worth $708,914. 4.80% of the stock is currently owned by company insiders.

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.