AIGH Capital Management LLC Makes New Investment in Ardelyx, Inc. $ARDX

AIGH Capital Management LLC purchased a new stake in shares of Ardelyx, Inc. (NASDAQ:ARDX) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 198,500 shares of the biopharmaceutical company’s stock, valued at approximately $1,094,000. AIGH Capital Management LLC owned approximately 0.08% of Ardelyx at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ARDX. DCF Advisers LLC purchased a new stake in shares of Ardelyx during the second quarter valued at $39,000. Brighton Jones LLC acquired a new stake in Ardelyx during the 2nd quarter worth about $40,000. State of Wyoming acquired a new stake in Ardelyx during the 2nd quarter worth about $61,000. Vontobel Holding Ltd. purchased a new stake in Ardelyx during the 3rd quarter valued at about $63,000. Finally, Osaic Holdings Inc. increased its holdings in shares of Ardelyx by 28.2% in the second quarter. Osaic Holdings Inc. now owns 16,854 shares of the biopharmaceutical company’s stock valued at $66,000 after purchasing an additional 3,709 shares during the period. 58.92% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on ARDX. Piper Sandler raised Ardelyx from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $10.00 to $16.00 in a report on Thursday, January 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Ardelyx in a research note on Wednesday. Wedbush increased their price objective on shares of Ardelyx from $16.00 to $19.00 and gave the stock an “outperform” rating in a research note on Wednesday. BTIG Research raised their target price on shares of Ardelyx from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, January 9th. Finally, Citigroup upped their price target on shares of Ardelyx from $11.00 to $14.00 and gave the company a “buy” rating in a report on Friday, January 9th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $14.30.

Ardelyx Trading Down 2.0%

Shares of Ardelyx stock opened at $7.77 on Friday. The firm has a 50-day simple moving average of $6.19 and a two-hundred day simple moving average of $5.72. The company has a debt-to-equity ratio of 1.31, a quick ratio of 4.11 and a current ratio of 4.41. Ardelyx, Inc. has a fifty-two week low of $3.21 and a fifty-two week high of $8.40. The company has a market cap of $1.89 billion, a P/E ratio of -33.78 and a beta of 0.56.

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

Insiders Place Their Bets

In other news, insider Elizabeth A. Grammer sold 5,995 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $5.54, for a total transaction of $33,212.30. Following the completion of the transaction, the insider directly 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Laura A. Williams sold 50,000 shares of Ardelyx stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $6.98, for a total transaction of $349,000.00. Following the completion of the sale, the insider directly owned 361,563 shares in the company, valued at $2,523,709.74. This represents a 12.15% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 114,868 shares of company stock valued at $708,369 over the last ninety days. 4.80% of the stock is owned by corporate insiders.

About Ardelyx

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.