Squarepoint Ops LLC Purchases 363,894 Shares of Ardelyx, Inc. (NASDAQ:ARDX)

Squarepoint Ops LLC increased its position in shares of Ardelyx, Inc. (NASDAQ:ARDX) by 375.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 460,689 shares of the biopharmaceutical company’s stock after acquiring an additional 363,894 shares during the period. Squarepoint Ops LLC owned approximately 0.20% of Ardelyx worth $3,414,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Redmile Group LLC bought a new position in shares of Ardelyx in the first quarter worth $16,020,000. Price T Rowe Associates Inc. MD grew its position in Ardelyx by 68.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,913,863 shares of the biopharmaceutical company’s stock worth $28,572,000 after buying an additional 1,584,597 shares in the last quarter. Rubric Capital Management LP increased its stake in Ardelyx by 60.5% in the 4th quarter. Rubric Capital Management LP now owns 4,012,753 shares of the biopharmaceutical company’s stock worth $24,879,000 after acquiring an additional 1,512,753 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Ardelyx by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 13,391,855 shares of the biopharmaceutical company’s stock valued at $97,761,000 after acquiring an additional 365,809 shares in the last quarter. Finally, Seven Eight Capital LP boosted its position in shares of Ardelyx by 2,230.9% during the 1st quarter. Seven Eight Capital LP now owns 374,151 shares of the biopharmaceutical company’s stock valued at $2,731,000 after acquiring an additional 358,099 shares during the last quarter. 58.92% of the stock is currently owned by hedge funds and other institutional investors.

Ardelyx Trading Down 0.6 %

Shares of ARDX stock opened at $6.85 on Wednesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 4.21 and a quick ratio of 3.99. The business has a 50-day moving average of $5.95 and a 200 day moving average of $6.54. The stock has a market capitalization of $1.59 billion, a PE ratio of -24.46 and a beta of 0.90. Ardelyx, Inc. has a 1-year low of $3.16 and a 1-year high of $10.13.

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on ARDX. Citigroup lifted their target price on shares of Ardelyx from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. HC Wainwright increased their target price on Ardelyx from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Ardelyx in a research note on Thursday, June 20th. Wedbush reiterated an “outperform” rating and set a $11.00 price objective on shares of Ardelyx in a research report on Friday, August 2nd. Finally, StockNews.com raised Ardelyx from a “sell” rating to a “hold” rating in a report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $11.67.

Insider Buying and Selling at Ardelyx

In related news, insider David P. Rosenbaum sold 20,507 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $6.00, for a total value of $123,042.00. Following the sale, the insider now directly owns 158,502 shares of the company’s stock, valued at $951,012. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Ardelyx news, CEO Michael Raab sold 30,000 shares of Ardelyx stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $5.64, for a total transaction of $169,200.00. Following the sale, the chief executive officer now directly owns 1,260,463 shares of the company’s stock, valued at approximately $7,109,011.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider David P. Rosenbaum sold 20,507 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $6.00, for a total transaction of $123,042.00. Following the completion of the sale, the insider now directly owns 158,502 shares in the company, valued at $951,012. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 217,126 shares of company stock worth $1,320,113. 5.50% of the stock is currently owned by company insiders.

About Ardelyx

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.