Y Intercept Hong Kong Ltd Takes $204,000 Position in Ardelyx, Inc. $ARDX

Y Intercept Hong Kong Ltd purchased a new stake in Ardelyx, Inc. (NASDAQ:ARDX) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 52,130 shares of the biopharmaceutical company’s stock, valued at approximately $204,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Brighton Jones LLC acquired a new position in Ardelyx in the second quarter valued at $40,000. Crux Wealth Advisors raised its stake in shares of Ardelyx by 17.7% during the second quarter. Crux Wealth Advisors now owns 27,393 shares of the biopharmaceutical company’s stock worth $107,000 after purchasing an additional 4,120 shares during the last quarter. Inspire Investing LLC lifted its holdings in shares of Ardelyx by 41.7% during the second quarter. Inspire Investing LLC now owns 98,529 shares of the biopharmaceutical company’s stock worth $386,000 after purchasing an additional 28,982 shares during the period. Aberdeen Group plc grew its position in Ardelyx by 30.6% in the 2nd quarter. Aberdeen Group plc now owns 1,112,476 shares of the biopharmaceutical company’s stock valued at $4,361,000 after buying an additional 260,757 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Ardelyx by 21.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 65,030 shares of the biopharmaceutical company’s stock valued at $278,000 after buying an additional 11,694 shares during the period. 58.92% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Ardelyx news, CEO Michael Raab sold 45,687 shares of the stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $5.93, for a total transaction of $270,923.91. Following the transaction, the chief executive officer owned 1,502,250 shares of the company’s stock, valued at $8,908,342.50. This represents a 2.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Eric Duane Foster sold 15,308 shares of the company’s stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $5.93, for a total value of $90,776.44. Following the completion of the transaction, the insider owned 301,498 shares of the company’s stock, valued at $1,787,883.14. The trade was a 4.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 165,551 shares of company stock valued at $996,917. 4.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently commented on ARDX. Weiss Ratings restated a “sell (d-)” rating on shares of Ardelyx in a research note on Wednesday, October 8th. Wedbush reaffirmed an “outperform” rating and issued a $14.00 price objective (up previously from $13.00) on shares of Ardelyx in a report on Tuesday, August 5th. UBS Group set a $12.00 target price on Ardelyx in a research report on Tuesday, August 5th. Piper Sandler raised their price target on Ardelyx from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Tuesday, November 4th. Finally, Raymond James Financial started coverage on Ardelyx in a research report on Wednesday, September 3rd. They issued a “strong-buy” rating and a $14.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $11.73.

Ardelyx Trading Down 1.1%

Shares of ARDX stock opened at $5.59 on Friday. The company has a quick ratio of 4.03, a current ratio of 4.30 and a debt-to-equity ratio of 1.44. The stock has a market cap of $1.36 billion, a P/E ratio of -24.30 and a beta of 0.66. The business has a fifty day simple moving average of $5.71 and a 200-day simple moving average of $4.89. Ardelyx, Inc. has a fifty-two week low of $3.21 and a fifty-two week high of $6.78.

Ardelyx (NASDAQ:ARDX) last issued its quarterly earnings data on Thursday, October 30th. The biopharmaceutical company reported $0.00 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.06. Ardelyx had a negative return on equity of 36.57% and a negative net margin of 14.60%.The firm had revenue of $110.33 million during the quarter, compared to the consensus estimate of $100.44 million. The firm’s quarterly revenue was up 14.6% compared to the same quarter last year. On average, analysts forecast that Ardelyx, Inc. will post -0.18 earnings per share for the current fiscal 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.