Ardelyx Inc (ARDX) Stake Raised by Metropolitan Life Insurance Co. NY

Metropolitan Life Insurance Co. NY boosted its position in Ardelyx Inc (NASDAQ:ARDX) by 11.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,824 shares of the biopharmaceutical company’s stock after buying an additional 2,382 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Ardelyx were worth $324,000 as of its most recent filing with the SEC.

Other institutional investors have also recently modified their holdings of the company. Acuta Capital Partners LLC raised its position in shares of Ardelyx by 3.1% in the fourth quarter. Acuta Capital Partners LLC now owns 26,891 shares of the biopharmaceutical company’s stock worth $382,000 after buying an additional 815 shares in the last quarter. BlackRock Advisors LLC raised its position in shares of Ardelyx by 5.8% in the third quarter. BlackRock Advisors LLC now owns 72,656 shares of the biopharmaceutical company’s stock worth $940,000 after buying an additional 3,999 shares in the last quarter. Great Point Partners LLC purchased a new position in shares of Ardelyx during the third quarter worth approximately $194,000. Russell Investments Group Ltd. purchased a new position in shares of Ardelyx during the fourth quarter worth approximately $258,000. Finally, Renaissance Technologies LLC raised its position in shares of Ardelyx by 41.1% in the fourth quarter. Renaissance Technologies LLC now owns 66,300 shares of the biopharmaceutical company’s stock worth $941,000 after buying an additional 19,300 shares in the last quarter. Hedge funds and other institutional investors own 81.65% of the company’s stock.

Institutional Ownership by Quarter for Ardelyx (NASDAQ:ARDX)

Ardelyx Inc (NASDAQ:ARDX) opened at 12.60 on Friday. The firm has a 50-day moving average of $13.09 and a 200-day moving average of $13.53. Ardelyx Inc has a one year low of $6.36 and a one year high of $16.30. The firm’s market cap is $596.32 million.

Ardelyx (NASDAQ:ARDX) last released its quarterly earnings data on Friday, February 17th. The biopharmaceutical company reported ($0.66) EPS for the quarter, hitting analysts’ consensus estimates of ($0.66). Analysts anticipate that Ardelyx Inc will post ($2.61) EPS for the current year.

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A number of brokerages have commented on ARDX. Wedbush reiterated an “outperform” rating and issued a $24.00 price objective on shares of Ardelyx in a report on Wednesday, February 15th. Zacks Investment Research upgraded shares of Ardelyx from a “sell” rating to a “hold” rating in a report on Tuesday, February 7th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $17.75.

About Ardelyx

Ardelyx, Inc is a clinical-stage biopharmaceutical company. The Company’s therapeutics focuses on addressing cardiorenal and gastrointestinal (GI) diseases. It operates through the research, development and commercialization of biopharmaceutical products segment. The Company’s products line includes cardiorenal portfolio and gastrointestinal portfolio.

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