Creative Planning Has $299,000 Stock Position in Ardelyx, Inc. (NASDAQ:ARDX)

Creative Planning increased its stake in shares of Ardelyx, Inc. (NASDAQ:ARDX) by 90.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,417 shares of the biopharmaceutical company’s stock after buying an additional 19,140 shares during the period. Creative Planning’s holdings in Ardelyx were worth $299,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Redmile Group LLC acquired a new position in Ardelyx during the 1st quarter valued at about $16,020,000. Millennium Management LLC lifted its position in Ardelyx by 142.8% during the 2nd quarter. Millennium Management LLC now owns 3,203,090 shares of the biopharmaceutical company’s stock valued at $23,735,000 after purchasing an additional 1,883,995 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Ardelyx by 68.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,913,863 shares of the biopharmaceutical company’s stock valued at $28,572,000 after purchasing an additional 1,584,597 shares during the period. Vanguard Group Inc. lifted its position in Ardelyx by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 13,391,855 shares of the biopharmaceutical company’s stock valued at $97,761,000 after purchasing an additional 365,809 shares during the period. Finally, Squarepoint Ops LLC lifted its position in Ardelyx by 375.9% during the 2nd quarter. Squarepoint Ops LLC now owns 460,689 shares of the biopharmaceutical company’s stock valued at $3,414,000 after purchasing an additional 363,894 shares during the period. Institutional investors and hedge funds own 58.92% of the company’s stock.

Ardelyx Trading Down 0.3 %

NASDAQ ARDX opened at $5.83 on Friday. The company has a market cap of $1.36 billion, a PE ratio of -20.82 and a beta of 0.90. The company has a current ratio of 4.21, a quick ratio of 3.99 and a debt-to-equity ratio of 0.68. Ardelyx, Inc. has a 12 month low of $3.40 and a 12 month high of $10.13. The stock has a 50 day moving average of $6.09 and a 200-day moving average of $6.43.

Ardelyx (NASDAQ:ARDX) last released its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.04. The firm had revenue of $73.20 million during 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 company’s revenue for the quarter was up 228.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.08) earnings per share. On average, equities research analysts anticipate that Ardelyx, Inc. will post -0.25 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on ARDX shares. Piper Sandler cut Ardelyx from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $15.00 to $7.00 in a research note on Tuesday, July 2nd. HC Wainwright upped their price target on Ardelyx from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Monday, August 5th. StockNews.com raised Ardelyx from a “sell” rating to a “hold” rating in a research note on Wednesday, July 31st. Cantor Fitzgerald reissued an “overweight” rating on shares of Ardelyx in a research note on Thursday, June 20th. Finally, Wedbush reissued an “outperform” rating and set a $11.00 target price on shares of Ardelyx in a research note on Friday, August 2nd. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $11.67.

Insider Activity

In other news, CEO Michael Raab sold 30,000 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $5.64, for a total value of $169,200.00. Following the completion of the sale, the chief executive officer now owns 1,260,463 shares of the company’s stock, valued at approximately $7,109,011.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Michael Raab sold 30,000 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $5.64, for a total value of $169,200.00. Following the completion of the transaction, the chief executive officer now 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 value of $30,993.54. Following the completion of the transaction, the chief financial officer now directly owns 295,257 shares of the company’s stock, valued at approximately $1,730,206.02. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 217,126 shares of company stock valued at $1,320,413. 5.50% of the stock is owned by company insiders.

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.