Ardelyx, Inc. (NASDAQ:ARDX) Stock Position Lifted by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its holdings in Ardelyx, Inc. (NASDAQ:ARDX) by 5.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,035,135 shares of the biopharmaceutical company’s stock after purchasing an additional 96,357 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.86% of Ardelyx worth $10,318,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new stake in shares of Ardelyx in the fourth quarter valued at $41,000. Jones Financial Companies Lllp lifted its holdings in shares of Ardelyx by 67.2% in the fourth quarter. Jones Financial Companies Lllp now owns 1,452,176 shares of the biopharmaceutical company’s stock valued at $7,363,000 after buying an additional 583,550 shares during the period. Kovack Advisors Inc. acquired a new stake in shares of Ardelyx in the fourth quarter valued at $91,000. Los Angeles Capital Management LLC lifted its holdings in shares of Ardelyx by 175.5% in the fourth quarter. Los Angeles Capital Management LLC now owns 469,819 shares of the biopharmaceutical company’s stock valued at $2,382,000 after buying an additional 299,275 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of Ardelyx by 9.4% in the fourth quarter. Principal Financial Group Inc. now owns 148,142 shares of the biopharmaceutical company’s stock valued at $751,000 after buying an additional 12,703 shares during the period. Institutional investors own 58.92% of the company’s stock.

Ardelyx Stock Performance

ARDX opened at $5.13 on Friday. The firm has a market capitalization of $1.22 billion, a P/E ratio of -32.06 and a beta of 0.87. The stock’s 50 day moving average price is $5.43 and its two-hundred day moving average price is $5.54. The company has a quick ratio of 4.31, a current ratio of 4.58 and a debt-to-equity ratio of 0.87. Ardelyx, Inc. has a 12-month low of $4.32 and a 12-month high of $9.33.

Ardelyx (NASDAQ:ARDX) last released its earnings results on Thursday, February 20th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.02. The firm had revenue of $116.13 million for the quarter, compared to analyst estimates of $111.16 million. Ardelyx had a negative return on equity of 24.87% and a negative net margin of 11.73%. On average, equities analysts forecast that Ardelyx, Inc. will post -0.18 earnings per share for the current year.

Insider Buying and Selling at Ardelyx

In other Ardelyx news, CEO Michael Raab sold 41,668 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $5.36, for a total value of $223,340.48. Following the completion of the sale, the chief executive officer now owns 1,635,138 shares in the company, valued at approximately $8,764,339.68. This trade represents a 2.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David M. Mott acquired 77,729 shares of Ardelyx stock in a transaction on Monday, February 24th. The stock was purchased at an average price of $5.00 per share, with a total value of $388,645.00. Following the transaction, the director now directly owns 2,015,494 shares in the company, valued at approximately $10,077,470. This trade represents a 4.01 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 158,076 shares of company stock valued at $853,804 in the last 90 days. 5.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ARDX shares. BTIG Research started coverage on Ardelyx in a report on Tuesday, March 4th. They issued a “buy” rating and a $14.00 price objective for the company. HC Wainwright restated a “neutral” rating and issued a $5.50 price objective on shares of Ardelyx in a report on Friday, February 21st. Jefferies Financial Group reduced their target price on Ardelyx from $11.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Scotiabank initiated coverage on Ardelyx in a report on Friday, March 7th. They set a “sector outperform” rating and a $15.00 target price for the company. Finally, Piper Sandler raised Ardelyx to a “hold” rating in a report on Wednesday, March 12th. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $10.95.

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.