BNP Paribas Financial Markets Grows Position in Ardelyx, Inc. (NASDAQ:ARDX)

BNP Paribas Financial Markets lifted its position in shares of Ardelyx, Inc. (NASDAQ:ARDX) by 274.3% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 181,387 shares of the biopharmaceutical company’s stock after purchasing an additional 132,928 shares during the quarter. BNP Paribas Financial Markets owned about 0.08% of Ardelyx worth $1,250,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Nisa Investment Advisors LLC grew its stake in Ardelyx by 1,026.3% during the second quarter. Nisa Investment Advisors LLC now owns 3,548 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 3,233 shares during the period. Redwood Wealth Management Group LLC acquired a new position in shares of Ardelyx during the 2nd quarter valued at $62,000. Coastal Bridge Advisors LLC purchased a new stake in Ardelyx during the 2nd quarter worth $74,000. Helen Stephens Group LLC acquired a new stake in Ardelyx in the 3rd quarter valued at $76,000. Finally, CWM LLC raised its position 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 purchasing an additional 9,821 shares during the period. Institutional investors and hedge funds own 58.92% of the company’s stock.

Insider Buying and Selling at Ardelyx

In related news, CEO Michael Raab sold 35,000 shares of Ardelyx stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $5.61, for a total value of $196,350.00. Following the completion of the transaction, the chief executive officer now directly owns 1,220,608 shares in the company, valued at approximately $6,847,610.88. This trade represents a 2.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Laura A. Williams sold 7,366 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $4.79, for a total value of $35,283.14. Following the sale, the insider now owns 308,745 shares in the company, valued at $1,478,888.55. The trade was a 2.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 252,068 shares of company stock valued at $1,472,641 in the last three months. Corporate insiders own 5.90% of the company’s stock.

Ardelyx Trading Down 7.9 %

Shares of ARDX opened at $5.27 on Tuesday. Ardelyx, Inc. has a one year low of $4.34 and a one year high of $10.13. The stock has a 50-day moving average price of $5.69 and a 200 day moving average price of $5.94. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.87 and a current ratio of 4.03. The company has a market capitalization of $1.25 billion, a P/E ratio of -17.57 and a beta of 0.83.

Wall Street Analysts Forecast Growth

ARDX has been the subject of several analyst reports. HC Wainwright downgraded Ardelyx from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $11.00 to $5.50 in a research report on Monday, November 11th. Citigroup decreased their price target on Ardelyx from $12.00 to $10.00 and set a “buy” rating for the company in a report on Monday, November 4th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Ardelyx currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.42.

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.