GAMMA Investing LLC Buys 5,502 Shares of Ardelyx, Inc. (NASDAQ:ARDX)

GAMMA Investing LLC grew its stake in shares of Ardelyx, Inc. (NASDAQ:ARDX) by 1,342.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,912 shares of the biopharmaceutical company’s stock after buying an additional 5,502 shares during the quarter. GAMMA Investing LLC’s holdings in Ardelyx were worth $290,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Janus Henderson Group PLC lifted its position in Ardelyx by 13.3% in the 4th quarter. Janus Henderson Group PLC now owns 24,387,941 shares of the biopharmaceutical company’s stock worth $123,587,000 after buying an additional 2,858,061 shares during the last quarter. Two Seas Capital LP purchased a new position in shares of Ardelyx during the fourth quarter worth approximately $9,407,000. Rock Springs Capital Management LP bought a new stake in shares of Ardelyx in the 4th quarter worth approximately $7,421,000. D. E. Shaw & Co. Inc. boosted its stake in shares of Ardelyx by 9,499.8% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,468,668 shares of the biopharmaceutical company’s stock valued at $7,446,000 after purchasing an additional 1,453,369 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new position in shares of Ardelyx during the 4th quarter valued at $6,762,000. Hedge funds and other institutional investors own 58.92% of the company’s stock.

Insider Transactions at Ardelyx

In other news, Director David M. Mott bought 200,000 shares of Ardelyx stock in a transaction on Monday, June 16th. The shares were purchased at an average price of $3.63 per share, for a total transaction of $726,000.00. Following the acquisition, the director now owns 2,896,871 shares of the company’s stock, valued at approximately $10,515,641.73. The trade was a 7.42% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 sale, the chief executive officer now owns 1,615,587 shares in the company, valued at $7,415,544.33. This 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 purchased 881,377 shares of company stock valued at $3,402,411 and sold 166,809 shares valued at $708,914. Corporate insiders own 4.80% of the company’s stock.

Wall Street Analyst Weigh In

ARDX has been the subject of several recent research reports. Cantor Fitzgerald raised shares of Ardelyx to a “strong-buy” rating in a research note on Tuesday, March 4th. Citigroup lowered their target price on Ardelyx from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. Wall Street Zen cut Ardelyx from a “hold” rating to a “sell” rating in a report on Monday, May 5th. HC Wainwright started coverage on Ardelyx in a research report on Wednesday. They set a “buy” rating and a $10.00 price target on the stock. Finally, Raymond James Financial cut Ardelyx from a “strong-buy” rating to an “outperform” rating and set a $11.00 price target on the stock. in a research note on Friday, May 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Ardelyx presently has a consensus rating of “Moderate Buy” and an average price target of $10.89.

Ardelyx Trading Down 1.4%

NASDAQ ARDX opened at $3.56 on Friday. The stock has a market cap of $851.75 million, a P/E ratio of -16.18 and a beta of 0.59. Ardelyx, Inc. has a fifty-two week low of $3.21 and a fifty-two week high of $8.06. The stock has a 50 day simple moving average of $4.10 and a two-hundred day simple moving average of $4.82. The company has a debt-to-equity ratio of 1.04, a quick ratio of 3.81 and a current ratio of 4.12.

Ardelyx (NASDAQ:ARDX) last announced 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). The business had revenue of $74.11 million during the quarter, compared to analysts’ expectations of $79.40 million. Ardelyx had a negative return on equity of 34.45% and a negative net margin of 14.86%. The business’s revenue was up 61.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.11) EPS. On average, analysts forecast that Ardelyx, Inc. will post -0.18 earnings per share for the current year.

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.