Ardelyx, Inc. (NASDAQ:ARDX) Holdings Raised by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. increased its stake in Ardelyx, Inc. (NASDAQ:ARDX) by 30.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 73,585 shares of the biopharmaceutical company’s stock after purchasing an additional 17,193 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Ardelyx were worth $456,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. SJS Investment Consulting Inc. acquired a new stake in shares of Ardelyx in the 4th quarter worth approximately $62,000. Vontobel Holding Ltd. bought a new position in Ardelyx during the 4th quarter valued at $74,000. Xponance Inc. increased its position in shares of Ardelyx by 12.6% during the 4th quarter. Xponance Inc. now owns 14,112 shares of the biopharmaceutical company’s stock valued at $87,000 after purchasing an additional 1,575 shares during the period. Values First Advisors Inc. bought a new stake in shares of Ardelyx in the 4th quarter worth $93,000. Finally, Sherbrooke Park Advisers LLC acquired a new stake in shares of Ardelyx in the third quarter valued at $63,000. Institutional investors own 58.92% of the company’s stock.

Insider Buying and Selling

In other Ardelyx news, insider Robert Blanks sold 5,017 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $8.75, for a total value of $43,898.75. Following the completion of the sale, the insider now owns 368,186 shares in the company, valued at approximately $3,221,627.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Robert Blanks sold 5,017 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $8.75, for a total value of $43,898.75. Following the transaction, the insider now directly owns 368,186 shares of the company’s stock, valued at $3,221,627.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Justin A. Renz sold 5,341 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $8.75, for a total value of $46,733.75. Following the sale, the chief financial officer now owns 304,835 shares of the company’s stock, valued at $2,667,306.25. The disclosure for this sale can be found here. Over the last three months, insiders sold 203,425 shares of company stock worth $1,593,241. 5.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ARDX has been the topic of several research reports. Piper Sandler boosted their price target on shares of Ardelyx from $12.00 to $15.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. StockNews.com lowered shares of Ardelyx from a “hold” rating to a “sell” rating in a research note on Monday, February 26th. SVB Leerink assumed coverage on Ardelyx in a report on Friday, April 5th. They issued an “outperform” rating and a $14.00 price target on the stock. Wedbush increased their price objective on Ardelyx from $14.00 to $15.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Finally, Leerink Partnrs restated an “outperform” rating on shares of Ardelyx in a report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.81.

Ardelyx Stock Down 5.0 %

Shares of ARDX traded down $0.42 during mid-day trading on Thursday, reaching $8.06. The company’s stock had a trading volume of 5,762,091 shares, compared to its average volume of 6,286,374. Ardelyx, Inc. has a 1 year low of $3.16 and a 1 year high of $10.13. The company has a quick ratio of 4.36, a current ratio of 4.53 and a debt-to-equity ratio of 0.66. The company has a market cap of $1.89 billion, a price-to-earnings ratio of -30.29 and a beta of 0.87. The business has a fifty day moving average of $7.64 and a 200 day moving average of $6.92.

Ardelyx (NASDAQ:ARDX) last announced its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.02. The firm had revenue of $46.00 million during the quarter, compared to the consensus estimate of $36.40 million. Ardelyx had a negative return on equity of 41.65% and a negative net margin of 41.36%. The business’s revenue for the quarter was up 303.5% on a year-over-year basis. During the same period in the prior year, the business earned ($0.13) EPS. As a group, analysts forecast that Ardelyx, Inc. will post -0.44 earnings per share for the current fiscal year.

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.