Intech Investment Management LLC Invests $423,000 in Ardelyx, Inc. (NASDAQ:ARDX)

Intech Investment Management LLC purchased a new position in shares of Ardelyx, Inc. (NASDAQ:ARDX) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 61,428 shares of the biopharmaceutical company’s stock, valued at approximately $423,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its position 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 acquiring an additional 3,233 shares during the period. Redwood Wealth Management Group LLC acquired a new stake in Ardelyx during the 2nd quarter valued at $62,000. Coastal Bridge Advisors LLC acquired a new position in Ardelyx in the 2nd quarter valued at $74,000. Helen Stephens Group LLC acquired a new stake in Ardelyx during the third quarter worth approximately $76,000. Finally, CWM LLC increased its stake in Ardelyx by 328.1% in the third quarter. CWM LLC now owns 12,814 shares of the biopharmaceutical company’s stock valued at $88,000 after acquiring an additional 9,821 shares during the last quarter. 58.92% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on ARDX. Citigroup lowered their target price on Ardelyx from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, November 4th. HC Wainwright downgraded shares of Ardelyx from a “buy” rating to a “neutral” rating and cut their price target for the stock from $11.00 to $5.50 in a report on Monday, November 11th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Ardelyx presently has a consensus rating of “Moderate Buy” and an average price target of $10.42.

Ardelyx Trading Down 2.3 %

Shares of NASDAQ ARDX opened at $5.54 on Tuesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 4.03 and a quick ratio of 3.87. The stock has a market capitalization of $1.31 billion, a P/E ratio of -18.47 and a beta of 0.92. The business has a fifty day moving average price of $5.78 and a 200 day moving average price of $6.02. Ardelyx, Inc. has a 1-year low of $4.34 and a 1-year high of $10.13.

Insider Buying and Selling

In related news, insider Laura A. Williams sold 7,366 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $4.79, for a total value of $35,283.14. Following the transaction, the insider now directly owns 308,745 shares in the company, valued at approximately $1,478,888.55. This represents a 2.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David P. Rosenbaum sold 5,312 shares of Ardelyx stock in a transaction on 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 directly owns 153,616 shares of the company’s stock, valued at $961,636.16. The trade was a 3.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 252,068 shares of company stock valued at $1,472,641 over the last 90 days. Insiders own 5.90% of the company’s stock.

Ardelyx 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.