Charles Schwab Investment Management Inc. Grows Stock Holdings in Ardelyx, Inc. (NASDAQ:ARDX)

Charles Schwab Investment Management Inc. grew its holdings in Ardelyx, Inc. (NASDAQ:ARDX) by 2.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,938,778 shares of the biopharmaceutical company’s stock after buying an additional 40,702 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.82% of Ardelyx worth $13,358,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in ARDX. Millennium Management LLC grew its position in Ardelyx by 142.8% in the second quarter. Millennium Management LLC now owns 3,203,090 shares of the biopharmaceutical company’s stock worth $23,735,000 after acquiring an additional 1,883,995 shares in the last quarter. Squarepoint Ops LLC lifted its stake in shares of Ardelyx by 375.9% in 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 last quarter. Principal Financial Group Inc. boosted its holdings in shares of Ardelyx by 283.9% in the 2nd quarter. Principal Financial Group Inc. now owns 471,453 shares of the biopharmaceutical company’s stock worth $3,493,000 after purchasing an additional 348,642 shares during the period. Simplify Asset Management Inc. boosted its holdings in shares of Ardelyx by 70.9% in the 2nd quarter. Simplify Asset Management Inc. now owns 598,000 shares of the biopharmaceutical company’s stock worth $4,431,000 after purchasing an additional 248,000 shares during the period. Finally, AQR Capital Management LLC increased its position in shares of Ardelyx by 145.6% during the 2nd quarter. AQR Capital Management LLC now owns 416,353 shares of the biopharmaceutical company’s stock valued at $3,085,000 after purchasing an additional 246,819 shares during the last quarter. 58.92% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ARDX has been the subject of a number of analyst reports. Citigroup lowered their price target 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 lowered shares of Ardelyx from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $11.00 to $5.50 in a report on Monday, November 11th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $10.42.

Ardelyx Stock Up 4.0 %

Shares of ARDX opened at $5.72 on Monday. The firm has a fifty day moving average price of $5.72 and a 200-day moving average price of $5.96. The company has a current ratio of 4.03, a quick ratio of 3.87 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $1.35 billion, a P/E ratio of -19.07 and a beta of 0.83. Ardelyx, Inc. has a 12-month low of $4.34 and a 12-month high of $10.13.

Insider Activity at Ardelyx

In other Ardelyx news, insider David P. Rosenbaum sold 5,312 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $6.26, for a total transaction of $33,253.12. Following the transaction, the insider now directly owns 153,616 shares in the company, valued at $961,636.16. This trade represents a 3.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Justin A. Renz sold 5,260 shares of Ardelyx stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $4.79, for a total value of $25,195.40. Following the sale, the chief financial officer now directly owns 291,139 shares of the company’s stock, valued at approximately $1,394,555.81. This trade represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 252,068 shares of company stock worth $1,472,641 in the last 90 days. 5.90% of the stock is owned by corporate 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.