Harbor Capital Advisors Inc. Sells 133,140 Shares of Ardelyx, Inc. $ARDX

Harbor Capital Advisors Inc. decreased its position in Ardelyx, Inc. (NASDAQ:ARDX) by 57.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,108 shares of the biopharmaceutical company’s stock after selling 133,140 shares during the period. Harbor Capital Advisors Inc.’s holdings in Ardelyx were worth $552,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ARDX. Vontobel Holding Ltd. purchased a new position in Ardelyx in the third quarter worth about $63,000. Brighton Jones LLC increased its position in shares of Ardelyx by 25.1% during the third quarter. Brighton Jones LLC now owns 12,701 shares of the biopharmaceutical company’s stock valued at $70,000 after acquiring an additional 2,550 shares in the last quarter. CHICAGO TRUST Co NA purchased a new position in Ardelyx in the 3rd quarter worth approximately $73,000. Osaic Holdings Inc. lifted its position in Ardelyx by 28.2% in the 2nd quarter. Osaic Holdings Inc. now owns 16,854 shares of the biopharmaceutical company’s stock valued at $66,000 after acquiring an additional 3,709 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new position in Ardelyx in the 2nd quarter valued at approximately $708,000. 58.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ARDX has been the subject of a number of research analyst reports. Piper Sandler lifted their target price on Ardelyx from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Tuesday, November 4th. Raymond James Financial reiterated a “strong-buy” rating on shares of Ardelyx in a report on Tuesday, November 25th. Cowen reissued a “buy” rating on shares of Ardelyx in a research report on Friday, October 31st. Citigroup upped their target price on shares of Ardelyx from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. Finally, Wedbush lowered shares of Ardelyx from an “outperform” rating to a “hold” rating in a research note on Tuesday, November 25th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $11.73.

Ardelyx Stock Performance

ARDX opened at $5.74 on Monday. The company has a 50 day simple moving average of $5.69 and a two-hundred day simple moving average of $5.33. The company has a debt-to-equity ratio of 1.31, a current ratio of 4.41 and a quick ratio of 4.11. The firm has a market cap of $1.39 billion, a P/E ratio of -24.96 and a beta of 0.55. Ardelyx, Inc. has a 1-year low of $3.21 and a 1-year high of $6.78.

Ardelyx (NASDAQ:ARDX) last announced its quarterly earnings data on Thursday, October 30th. The biopharmaceutical company reported $0.00 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.06. The firm had revenue of $110.33 million for the quarter, compared to the consensus estimate of $100.44 million. Ardelyx had a negative net margin of 14.20% and a negative return on equity of 36.91%. Ardelyx’s revenue was up 14.6% compared to the same quarter last year. Equities analysts forecast that Ardelyx, Inc. will post -0.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Mike Kelliher sold 5,560 shares of the business’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $5.54, for a total value of $30,802.40. Following the transaction, the insider directly owned 271,181 shares in the company, valued at $1,502,342.74. The trade was a 2.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Elizabeth A. Grammer sold 5,995 shares of the stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $5.54, for a total value of $33,212.30. Following the sale, the insider owned 299,895 shares of the company’s stock, valued at $1,661,418.30. This represents a 1.96% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 64,868 shares of company stock valued at $359,369 over the last three months. Insiders own 4.80% of the company’s stock.

Ardelyx Company Profile

Ardelyx, Inc (NASDAQ: ARDX) is a clinical‐stage biopharmaceutical company focused on discovering, developing and commercializing targeted small molecule drugs for cardio‐renal and gastrointestinal diseases. The company’s lead marketed product, tenapanor (sold under the brand name XPHOZAH in the United States), is approved for the treatment of hyperphosphatemia in patients with chronic kidney disease on dialysis. Ardelyx’s proprietary approach targets epithelial transporters in the gastrointestinal tract, offering localized activity with limited systemic exposure.

Beyond tenapanor, Ardelyx’s development pipeline includes treatments designed to address other complications in kidney disease and related metabolic disorders.