Ardelyx, Inc. (NASDAQ:ARDX) Shares Sold by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. lessened its stake in Ardelyx, Inc. (NASDAQ:ARDX) by 21.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,033 shares of the biopharmaceutical company’s stock after selling 10,835 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Ardelyx were worth $289,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Nisa Investment Advisors LLC lifted its holdings in shares of Ardelyx by 1,026.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,548 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 3,233 shares in the last quarter. HighMark Wealth Management LLC acquired a new position in shares of Ardelyx during the 1st quarter valued at $36,000. Redwood Wealth Management Group LLC acquired a new position in shares of Ardelyx during the 2nd quarter valued at $62,000. Jump Financial LLC acquired a new position in shares of Ardelyx during the 4th quarter valued at $63,000. Finally, Paloma Partners Management Co acquired a new position in shares of Ardelyx during the 1st quarter valued at $86,000. Institutional investors and hedge funds own 58.92% of the company’s stock.

Ardelyx Price Performance

ARDX opened at $5.90 on Thursday. The company has a 50-day moving average of $5.88 and a 200-day moving average of $6.70. The company has a market capitalization of $1.37 billion, a P/E ratio of -21.07 and a beta of 0.90. Ardelyx, Inc. has a 1-year low of $3.16 and a 1-year high of $10.13. The company has a debt-to-equity ratio of 0.68, a quick ratio of 3.99 and a current ratio of 4.21.

Ardelyx (NASDAQ:ARDX) last released its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.04. The company had revenue of $73.20 million during the quarter, compared to the consensus estimate of $55.03 million. Ardelyx had a negative net margin of 31.02% and a negative return on equity of 39.73%. The company’s revenue was up 228.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.08) EPS. Equities analysts expect that Ardelyx, Inc. will post -0.26 EPS for the current fiscal year.

Insider Transactions at Ardelyx

In other news, insider David P. Rosenbaum sold 5,312 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $6.26, for a total value of $33,253.12. Following the completion of the sale, the insider now owns 153,616 shares of the company’s stock, valued at approximately $961,636.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider David P. Rosenbaum sold 5,312 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $6.26, for a total transaction of $33,253.12. Following the completion of the sale, the insider now owns 153,616 shares of the company’s stock, valued at approximately $961,636.16. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Justin A. Renz sold 5,289 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $5.86, for a total transaction of $30,993.54. Following the sale, the chief financial officer now directly owns 295,257 shares of the company’s stock, valued at approximately $1,730,206.02. The disclosure for this sale can be found here. In the last 90 days, insiders sold 204,872 shares of company stock valued at $1,200,623. Insiders own 5.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ARDX shares. Wedbush restated an “outperform” rating and set a $11.00 target price on shares of Ardelyx in a report on Friday, August 2nd. Citigroup boosted their price objective on shares of Ardelyx from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Piper Sandler lowered shares of Ardelyx from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $15.00 to $7.00 in a report on Tuesday, July 2nd. HC Wainwright boosted their price objective on shares of Ardelyx from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Finally, StockNews.com upgraded shares of Ardelyx from a “sell” rating to a “hold” rating in a report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Ardelyx has a consensus rating of “Moderate Buy” and an average target price of $11.67.

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.