Wellington Management Group LLP Lowers Position in Ardelyx, Inc. $ARDX

Wellington Management Group LLP reduced its stake in Ardelyx, Inc. (NASDAQ:ARDX) by 5.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 101,975 shares of the biopharmaceutical company’s stock after selling 5,370 shares during the quarter. Wellington Management Group LLP’s holdings in Ardelyx were worth $501,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of ARDX. GF Fund Management CO. LTD. purchased a new stake in Ardelyx in the 4th quarter valued at $25,000. Cyndeo Wealth Partners LLC purchased a new stake in Ardelyx in the 1st quarter valued at $49,000. Crestline Management LP purchased a new stake in Ardelyx in the 4th quarter valued at $64,000. Merit Financial Group LLC purchased a new stake in Ardelyx in the 1st quarter valued at $75,000. Finally, Freestone Grove Partners LP purchased a new stake in Ardelyx in the 4th quarter valued at $83,000. 58.92% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Ardelyx

In other news, insider Laura A. Williams sold 80,000 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $6.12, for a total transaction of $489,600.00. Following the completion of the transaction, the insider owned 366,322 shares in the company, valued at approximately $2,241,890.64. This represents a 17.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Justin A. Renz sold 7,037 shares of the stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $5.93, for a total value of $41,729.41. Following the transaction, the chief financial officer owned 409,052 shares of the company’s stock, valued at $2,425,678.36. The trade was a 1.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 165,551 shares of company stock worth $996,917 in the last three months. Corporate insiders own 4.80% of the company’s stock.

Ardelyx Stock Down 0.3%

ARDX stock opened at $6.36 on Tuesday. The company has a debt-to-equity ratio of 1.44, a quick ratio of 4.03 and a current ratio of 4.30. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of -27.65 and a beta of 0.73. Ardelyx, Inc. has a fifty-two week low of $3.21 and a fifty-two week high of $7.18. The stock has a fifty day moving average of $4.90 and a 200-day moving average of $4.68.

Ardelyx (NASDAQ:ARDX) last posted its quarterly earnings results on Monday, August 4th. The biopharmaceutical company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.05. The company had revenue of $97.66 million during the quarter, compared to the consensus estimate of $82.69 million. Ardelyx had a negative return on equity of 36.57% and a negative net margin of 14.60%.The firm’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.07) EPS. As a group, equities research analysts predict that Ardelyx, Inc. will post -0.18 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ARDX shares. HC Wainwright started coverage on Ardelyx in a research report on Wednesday, June 18th. They set a “buy” rating and a $10.00 target price for the company. Wedbush reaffirmed an “outperform” rating and set a $14.00 target price (up from $13.00) on shares of Ardelyx in a research report on Tuesday, August 5th. UBS Group set a $12.00 target price on Ardelyx in a research report on Tuesday, August 5th. Piper Sandler raised their target price on Ardelyx from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Wednesday, August 6th. Finally, Wall Street Zen raised Ardelyx from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $11.50.

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.