SG Americas Securities LLC Boosts Position in Ardelyx, Inc. (NASDAQ:ARDX)

SG Americas Securities LLC grew its stake in shares of Ardelyx, Inc. (NASDAQ:ARDX) by 203.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 166,343 shares of the biopharmaceutical company’s stock after buying an additional 111,457 shares during the period. SG Americas Securities LLC owned 0.07% of Ardelyx worth $817,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ARDX. Ensign Peak Advisors Inc raised its position in shares of Ardelyx by 3.1% in the fourth quarter. Ensign Peak Advisors Inc now owns 73,950 shares of the biopharmaceutical company’s stock worth $375,000 after buying an additional 2,200 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Ardelyx by 2.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 154,625 shares of the biopharmaceutical company’s stock valued at $788,000 after acquiring an additional 3,550 shares in the last quarter. Swiss National Bank boosted its position in shares of Ardelyx by 1.0% during the 4th quarter. Swiss National Bank now owns 463,100 shares of the biopharmaceutical company’s stock valued at $2,348,000 after acquiring an additional 4,800 shares during the last quarter. Orion Portfolio Solutions LLC boosted its position 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 valued at $84,000 after acquiring an additional 4,933 shares during the last quarter. Finally, GF Fund Management CO. LTD. purchased a new position in shares of Ardelyx during the fourth quarter worth about $25,000. 58.92% of the stock is owned by hedge funds and other institutional investors.

Ardelyx Stock Performance

NASDAQ ARDX opened at $3.61 on Friday. The company has a 50-day simple moving average of $4.12 and a two-hundred day simple moving average of $4.84. Ardelyx, Inc. has a 12-month low of $3.21 and a 12-month high of $8.06. The firm has a market cap of $863.73 million, a price-to-earnings ratio of -16.41 and a beta of 0.59. The company has a quick ratio of 3.81, a current ratio of 4.12 and a debt-to-equity ratio of 1.04.

Ardelyx (NASDAQ:ARDX) last released its earnings results on Thursday, May 1st. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.07). The company had revenue of $74.11 million during the quarter, compared to the consensus estimate of $79.40 million. Ardelyx had a negative net margin of 14.86% and a negative return on equity of 34.45%. The company’s revenue was up 61.1% on a year-over-year basis. During the same period last year, the firm posted ($0.11) EPS. On average, equities analysts forecast that Ardelyx, Inc. will post -0.18 EPS for the current year.

Analyst Upgrades and Downgrades

ARDX has been the topic of a number of recent analyst reports. Scotiabank began coverage on shares of Ardelyx in a research note on Friday, March 7th. They issued a “sector outperform” rating and a $15.00 target price on the stock. Cantor Fitzgerald raised shares of Ardelyx to a “strong-buy” rating in a report on Tuesday, March 4th. Piper Sandler raised shares of Ardelyx to a “hold” rating in a report on Wednesday, March 12th. BTIG Research assumed coverage on shares of Ardelyx in a research report on Tuesday, March 4th. They issued a “buy” rating and a $14.00 target price for the company. Finally, HC Wainwright assumed coverage on Ardelyx in a research report on Wednesday. They set a “buy” rating and a $10.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Ardelyx has a consensus rating of “Moderate Buy” and an average price target of $10.89.

Insiders Place Their Bets

In other Ardelyx news, Director David M. Mott bought 381,377 shares of Ardelyx stock in a transaction dated Friday, May 2nd. The shares were purchased at an average cost of $4.22 per share, with a total value of $1,609,410.94. Following the completion of the purchase, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Raab sold 41,666 shares of the business’s 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 transaction, the chief executive officer now directly owns 1,615,587 shares in the company, valued at $7,415,544.33. This trade represents a 2.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 881,377 shares of company stock valued at $3,402,411 and have sold 166,809 shares valued at $708,914. Insiders own 4.80% of the company’s stock.

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.