XTX Topco Ltd Makes New $446,000 Investment in Ardelyx, Inc. (NASDAQ:ARDX)

XTX Topco Ltd bought a new position in Ardelyx, Inc. (NASDAQ:ARDX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 60,123 shares of the biopharmaceutical company’s stock, valued at approximately $446,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in ARDX. Redwood Wealth Management Group LLC bought a new position in shares of Ardelyx in the 2nd quarter worth about $62,000. Ausdal Financial Partners Inc. increased its stake in shares of Ardelyx by 89.1% during the second quarter. Ausdal Financial Partners Inc. now owns 28,770 shares of the biopharmaceutical company’s stock valued at $213,000 after purchasing an additional 13,557 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Ardelyx during the second quarter valued at approximately $832,000. Principal Financial Group Inc. boosted its position 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 in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Ardelyx by 34.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 63,176 shares of the biopharmaceutical company’s stock worth $468,000 after buying an additional 16,198 shares during the last quarter. Hedge funds and other institutional investors own 58.92% of the company’s stock.

Ardelyx Stock Up 0.2 %

Shares of Ardelyx stock opened at $5.93 on Wednesday. Ardelyx, Inc. has a twelve month low of $3.16 and a twelve month high of $10.13. The company has a quick ratio of 3.99, a current ratio of 4.21 and a debt-to-equity ratio of 0.68. The company’s 50 day moving average is $5.88 and its 200 day moving average is $6.60. The company has a market cap of $1.38 billion, a price-to-earnings ratio of -21.18 and a beta of 0.90.

Ardelyx (NASDAQ:ARDX) last released its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.04. The firm had revenue of $73.20 million for the quarter, compared to analysts’ expectations of $55.03 million. Ardelyx had a negative return on equity of 39.73% and a negative net margin of 31.02%. The company’s revenue was up 228.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.08) EPS. Research analysts anticipate that Ardelyx, Inc. will post -0.26 EPS for the current year.

Insider Buying and Selling at Ardelyx

In related news, insider David P. Rosenbaum sold 5,312 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $6.26, for a total transaction of $33,253.12. Following the completion of the sale, the insider now directly owns 153,616 shares in the company, valued at $961,636.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider David P. Rosenbaum sold 5,312 shares of Ardelyx 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David P. Rosenbaum sold 20,507 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $6.00, for a total value of $123,042.00. Following the sale, the insider now directly owns 158,502 shares of the company’s stock, valued at approximately $951,012. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 166,872 shares of company stock valued at $974,143. 5.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on ARDX. StockNews.com upgraded Ardelyx from a “sell” rating to a “hold” rating in a research note on Wednesday, July 31st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Ardelyx in a research note on Thursday, June 20th. Wedbush restated an “outperform” rating and set a $11.00 price objective on shares of Ardelyx in a research note on Friday, August 2nd. Piper Sandler downgraded shares of Ardelyx from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $15.00 to $7.00 in a research note on Tuesday, July 2nd. Finally, HC Wainwright raised their price target on shares of Ardelyx from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.67.

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.