10,151 Shares in Ardelyx, Inc. $ARDX Acquired by Brighton Jones LLC

Brighton Jones LLC bought a new position in shares of Ardelyx, Inc. (NASDAQ:ARDX) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 10,151 shares of the biopharmaceutical company’s stock, valued at approximately $40,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Harbor Capital Advisors Inc. increased its stake in Ardelyx by 79.6% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 233,248 shares of the biopharmaceutical company’s stock valued at $914,000 after buying an additional 103,385 shares during the last quarter. AQR Capital Management LLC grew its stake in Ardelyx by 188.5% in the 1st quarter. AQR Capital Management LLC now owns 1,573,063 shares of the biopharmaceutical company’s stock valued at $7,724,000 after buying an additional 1,027,814 shares in the last quarter. Millennium Management LLC grew its stake in Ardelyx by 118.2% during the first quarter. Millennium Management LLC now owns 6,465,262 shares of the biopharmaceutical company’s stock valued at $31,744,000 after acquiring an additional 3,501,782 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Ardelyx during the 1st quarter valued at $673,000. Finally, Panagora Asset Management Inc. grew its holdings in shares of Ardelyx by 52.8% during the first quarter. Panagora Asset Management Inc. now owns 682,231 shares of the biopharmaceutical company’s stock worth $3,350,000 after purchasing an additional 235,804 shares in the last quarter. 58.92% of the stock is owned by hedge funds and other institutional investors.

Ardelyx Price Performance

NASDAQ:ARDX opened at $6.06 on Friday. The stock has a market cap of $1.46 billion, a PE ratio of -26.35 and a beta of 0.67. The company has a quick ratio of 4.03, a current ratio of 4.30 and a debt-to-equity ratio of 1.44. Ardelyx, Inc. has a 52 week low of $3.21 and a 52 week high of $6.78. The business’s 50-day simple moving average is $5.76 and its two-hundred day simple moving average is $4.86.

Ardelyx (NASDAQ:ARDX) last announced its quarterly earnings results on Thursday, October 30th. The biopharmaceutical company reported $0.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.06. Ardelyx had a negative net margin of 14.60% and a negative return on equity of 36.57%. The company had revenue of $110.33 million for the quarter, compared to the consensus estimate of $100.44 million. The firm’s quarterly revenue was up 14.6% on a year-over-year basis. As a group, analysts forecast that Ardelyx, Inc. will post -0.18 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on ARDX shares. Piper Sandler increased their price target on shares of Ardelyx from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Wednesday, August 6th. Cowen reaffirmed a “buy” rating on shares of Ardelyx in a research report on Friday. TD Cowen boosted their target price on Ardelyx from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Friday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ardelyx in a research note on Wednesday, October 8th. Finally, UBS Group set a $12.00 price objective on shares of Ardelyx in a research report on Tuesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Ardelyx currently has a consensus rating of “Moderate Buy” and an average target price of $11.55.

Insider Transactions at Ardelyx

In other Ardelyx news, insider Eric Duane Foster sold 15,308 shares of the business’s stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $5.93, for a total transaction of $90,776.44. Following the sale, the insider directly owned 301,498 shares of the company’s stock, valued at $1,787,883.14. The trade was a 4.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Elizabeth A. Grammer sold 5,841 shares of the business’s stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $5.93, for a total value of $34,637.13. Following the transaction, the insider directly owned 305,890 shares in the company, valued at approximately $1,813,927.70. This represents a 1.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 165,551 shares of company stock worth $996,917. 4.80% of the stock is currently owned by corporate 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.