Rhumbline Advisers Purchases 6,070 Shares of Ardelyx, Inc. (NASDAQ:ARDX)

Rhumbline Advisers boosted its holdings in shares of Ardelyx, Inc. (NASDAQ:ARDX) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 326,124 shares of the biopharmaceutical company’s stock after buying an additional 6,070 shares during the quarter. Rhumbline Advisers owned approximately 0.14% of Ardelyx worth $1,653,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Ardelyx by 34.3% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 28,365 shares of the biopharmaceutical company’s stock worth $195,000 after acquiring an additional 7,245 shares during the last quarter. Tyler Stone Wealth Management boosted its position in Ardelyx by 87.0% during the third quarter. Tyler Stone Wealth Management now owns 96,850 shares of the biopharmaceutical company’s stock worth $667,000 after purchasing an additional 45,055 shares during the period. Los Angeles Capital Management LLC increased its holdings in shares of Ardelyx by 51.8% in the third quarter. Los Angeles Capital Management LLC now owns 170,544 shares of the biopharmaceutical company’s stock valued at $1,175,000 after purchasing an additional 58,219 shares during the last quarter. Aigen Investment Management LP raised its position in shares of Ardelyx by 29.4% in the third quarter. Aigen Investment Management LP now owns 23,510 shares of the biopharmaceutical company’s stock valued at $162,000 after purchasing an additional 5,346 shares during the period. Finally, Simplify Asset Management Inc. lifted its stake in shares of Ardelyx by 15.3% during the 3rd quarter. Simplify Asset Management Inc. now owns 689,364 shares of the biopharmaceutical company’s stock worth $4,750,000 after buying an additional 91,364 shares during the last quarter. Institutional investors and hedge funds own 58.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Piper Sandler upped their price target on shares of Ardelyx from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. HC Wainwright reaffirmed a “neutral” rating and issued a $5.50 target price on shares of Ardelyx in a research report on Friday, February 21st. Cantor Fitzgerald raised Ardelyx to a “strong-buy” rating in a report on Thursday, January 30th. Jefferies Financial Group decreased their price objective on Ardelyx from $11.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Finally, Raymond James reissued a “strong-buy” rating and set a $13.00 target price (down previously from $15.00) on shares of Ardelyx in a report on Friday, February 21st. Three analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $10.44.

Ardelyx Stock Performance

NASDAQ:ARDX opened at $5.41 on Wednesday. The company has a market cap of $1.29 billion, a price-to-earnings ratio of -33.81 and a beta of 0.85. Ardelyx, Inc. has a fifty-two week low of $4.32 and a fifty-two week high of $9.83. The company has a debt-to-equity ratio of 0.87, a quick ratio of 4.31 and a current ratio of 4.58. The stock has a fifty day moving average price of $5.36 and a 200-day moving average price of $5.60.

Ardelyx (NASDAQ:ARDX) last posted its quarterly earnings data on Thursday, February 20th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, hitting the consensus estimate of $0.02. The business had revenue of $116.13 million during the quarter, compared to analysts’ expectations of $111.16 million. Ardelyx had a negative net margin of 11.73% and a negative return on equity of 24.87%. As a group, equities analysts anticipate that Ardelyx, Inc. will post -0.18 EPS for the current fiscal year.

Insider Transactions at Ardelyx

In other Ardelyx news, Director David M. Mott purchased 213,300 shares of the stock in a transaction dated Thursday, December 19th. The stock was bought at an average price of $4.67 per share, with a total value of $996,111.00. Following the acquisition, the director now owns 1,638,765 shares of the company’s stock, valued at approximately $7,653,032.55. This represents a 14.96 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Michael Raab sold 41,666 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $5.31, for a total value of $221,246.46. Following the sale, the chief executive officer now owns 1,129,552 shares of the company’s stock, valued at approximately $5,997,921.12. This represents a 3.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders bought 490,029 shares of company stock valued at $2,377,766 and sold 141,408 shares valued at $761,963. 5.90% of the stock is currently owned by 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.