Helen Stephens Group LLC Makes New $76,000 Investment in Ardelyx, Inc. (NASDAQ:ARDX)

Helen Stephens Group LLC acquired a new position in shares of Ardelyx, Inc. (NASDAQ:ARDX) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 11,000 shares of the biopharmaceutical company’s stock, valued at approximately $76,000.

A number of other large investors have also recently bought and sold shares of ARDX. Nisa Investment Advisors LLC boosted its stake in shares of Ardelyx by 1,026.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,548 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 3,233 shares in the last quarter. HighMark Wealth Management LLC acquired a new stake in shares of Ardelyx in the 1st quarter valued at approximately $36,000. Redwood Wealth Management Group LLC acquired a new stake in shares of Ardelyx in the 2nd quarter valued at approximately $62,000. Coastal Bridge Advisors LLC acquired a new stake in shares of Ardelyx in the 2nd quarter valued at approximately $74,000. Finally, Paloma Partners Management Co bought a new position in Ardelyx in the 1st quarter valued at approximately $86,000. 58.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ARDX. Wedbush reiterated an “outperform” rating and issued a $11.00 price objective on shares of Ardelyx in a report on Friday, August 2nd. StockNews.com upgraded shares of Ardelyx from a “sell” rating to a “hold” rating in a report on Wednesday, July 31st. Citigroup raised their price target 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 lowered their price target for the stock from $15.00 to $7.00 in a report on Tuesday, July 2nd. Finally, HC Wainwright raised their price target on shares of Ardelyx from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Ardelyx presently has an average rating of “Moderate Buy” and a consensus price target of $11.67.

Insider Activity at Ardelyx

In other Ardelyx news, CEO Michael Raab sold 30,000 shares of Ardelyx stock in a transaction on Monday, July 29th. The shares were sold at an average price of $5.64, for a total transaction of $169,200.00. Following the transaction, the chief executive officer now directly owns 1,260,463 shares of the company’s stock, valued at $7,109,011.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider David P. Rosenbaum sold 20,000 shares of Ardelyx stock in a transaction on Friday, August 16th. The stock was sold at an average price of $5.94, for a total transaction of $118,800.00. Following the sale, the insider now directly owns 356,479 shares in the company, valued at $2,117,485.26. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael Raab sold 30,000 shares of Ardelyx stock in a transaction on Monday, July 29th. The stock was sold at an average price of $5.64, for a total value of $169,200.00. Following the sale, the chief executive officer now owns 1,260,463 shares in the company, valued at $7,109,011.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 217,126 shares of company stock valued at $1,320,113. 5.50% of the stock is owned by company insiders.

Ardelyx Stock Performance

NASDAQ ARDX opened at $5.96 on Wednesday. The company has a fifty day simple moving average of $6.06 and a 200 day simple moving average of $6.50. Ardelyx, Inc. has a 12-month low of $3.16 and a 12-month high of $10.13. The company has a current ratio of 4.21, a quick ratio of 3.99 and a debt-to-equity ratio of 0.68. The company has a market cap of $1.39 billion, a P/E ratio of -21.29 and a beta of 0.90.

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