Two Seas Capital LP Makes New Investment in Ardelyx, Inc. (NASDAQ:ARDX)

Two Seas Capital LP purchased a new position in shares of Ardelyx, Inc. (NASDAQ:ARDX) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,855,337 shares of the biopharmaceutical company’s stock, valued at approximately $9,407,000. Ardelyx makes up approximately 0.7% of Two Seas Capital LP’s holdings, making the stock its 16th biggest holding. Two Seas Capital LP owned approximately 0.78% of Ardelyx as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. JPMorgan Chase & Co. grew its holdings in Ardelyx by 1.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 387,144 shares of the biopharmaceutical company’s stock worth $2,667,000 after acquiring an additional 6,093 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Ardelyx by 5.6% during the 4th quarter. Vanguard Group Inc. now owns 14,362,659 shares of the biopharmaceutical company’s stock worth $72,819,000 after purchasing an additional 767,111 shares during the period. Barclays PLC lifted its holdings in shares of Ardelyx by 24.9% in the 3rd quarter. Barclays PLC now owns 547,325 shares of the biopharmaceutical company’s stock worth $3,770,000 after purchasing an additional 109,285 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Ardelyx by 5.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,035,135 shares of the biopharmaceutical company’s stock valued at $10,318,000 after purchasing an additional 96,357 shares during the period. Finally, Rhumbline Advisers grew its position in Ardelyx by 1.9% in the 4th quarter. Rhumbline Advisers now owns 326,124 shares of the biopharmaceutical company’s stock worth $1,653,000 after purchasing an additional 6,070 shares during the last quarter. Institutional investors own 58.92% of the company’s stock.

Insiders Place Their Bets

In related news, Director David M. Mott acquired 100,000 shares of the business’s stock in a transaction on Thursday, May 15th. The stock was bought at an average cost of $3.29 per share, with a total value of $329,000.00. Following the completion of the acquisition, the director now owns 2,496,871 shares in the company, valued at $8,214,705.59. The trade was a 4.17% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Laura A. Williams sold 4,941 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $5.62, for a total value of $27,768.42. Following the completion of the sale, the insider now owns 303,804 shares of the company’s stock, valued at approximately $1,707,378.48. This trade represents a 1.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders bought 559,106 shares of company stock worth $2,327,056 and sold 158,076 shares worth $777,555. Corporate insiders own 4.80% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Piper Sandler upgraded Ardelyx to a “hold” rating in a research report on Wednesday, March 12th. Citigroup lowered their price target on Ardelyx from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. HC Wainwright restated a “neutral” rating and issued a $5.50 price objective on shares of Ardelyx in a report on Friday, February 21st. StockNews.com lowered shares of Ardelyx from a “hold” rating to a “sell” rating in a research report on Monday, May 5th. Finally, Raymond James lowered shares of Ardelyx from a “strong-buy” rating to an “outperform” rating and set a $11.00 price target on the stock. in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $10.39.

Ardelyx Stock Up 3.0%

Shares of ARDX stock opened at $4.18 on Wednesday. The company has a market capitalization of $1.00 billion, a price-to-earnings ratio of -26.13 and a beta of 0.76. The company has a debt-to-equity ratio of 0.87, a quick ratio of 4.31 and a current ratio of 4.58. Ardelyx, Inc. has a twelve month low of $3.21 and a twelve month high of $8.06. The stock’s 50 day simple moving average is $4.61 and its 200 day simple moving average is $5.07.

Ardelyx (NASDAQ:ARDX) last announced its quarterly earnings data on Thursday, May 1st. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.07). Ardelyx had a negative return on equity of 24.87% and a negative net margin of 11.73%. The company had revenue of $74.11 million during the quarter, compared to analyst estimates of $79.40 million. During the same quarter in the previous year, the business posted ($0.11) EPS. The company’s revenue was up 61.1% on a year-over-year basis. As a group, research analysts predict that Ardelyx, Inc. will post -0.18 EPS for the current year.

Ardelyx Company 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.