Ardelyx, Inc. (NASDAQ:ARDX) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC trimmed its position in shares of Ardelyx, Inc. (NASDAQ:ARDX) by 57.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,704 shares of the biopharmaceutical company’s stock after selling 52,968 shares during the quarter. SG Americas Securities LLC’s holdings in Ardelyx were worth $267,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. B. Riley Wealth Advisors Inc. acquired a new position in shares of Ardelyx during the second quarter worth about $645,000. Coastal Bridge Advisors LLC acquired a new position in Ardelyx during the second quarter worth about $74,000. Creative Planning grew its position in Ardelyx by 90.0% during the second quarter. Creative Planning now owns 40,417 shares of the biopharmaceutical company’s stock worth $299,000 after buying an additional 19,140 shares during the period. Algert Global LLC acquired a new position in Ardelyx during the second quarter worth about $174,000. Finally, Millennium Management LLC grew its position in Ardelyx by 142.8% during the second quarter. Millennium Management LLC now owns 3,203,090 shares of the biopharmaceutical company’s stock worth $23,735,000 after buying an additional 1,883,995 shares during the period. 58.92% of the stock is currently owned by institutional investors and hedge funds.

Ardelyx Stock Up 0.2 %

Shares of NASDAQ ARDX opened at $5.84 on Monday. Ardelyx, Inc. has a 12-month low of $3.40 and a 12-month high of $10.13. The company has a market capitalization of $1.36 billion, a PE ratio of -20.86 and a beta of 0.90. The company has a debt-to-equity ratio of 0.68, a current ratio of 4.21 and a quick ratio of 3.99. The firm’s 50-day moving average is $6.09 and its two-hundred day moving average is $6.40.

Ardelyx (NASDAQ:ARDX) last announced its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.04. The business had revenue of $73.20 million for the quarter, compared to the consensus estimate of $55.03 million. Ardelyx had a negative net margin of 31.02% and a negative return on equity of 39.73%. The company’s quarterly revenue was up 228.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.08) earnings per share. Equities analysts anticipate that Ardelyx, Inc. will post -0.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ARDX. Wedbush restated an “outperform” rating and set a $11.00 target price on shares of Ardelyx in a research report on Friday, August 2nd. HC Wainwright upped their target price on shares of Ardelyx from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Citigroup upped their target price on shares of Ardelyx from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. StockNews.com raised shares of Ardelyx from a “sell” rating to a “hold” rating in a report on Wednesday, July 31st. Finally, Piper Sandler downgraded shares of Ardelyx from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $15.00 to $7.00 in a report on Tuesday, July 2nd. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $11.67.

Insider Activity at Ardelyx

In related news, CEO Michael Raab sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $5.64, for a total transaction of $169,200.00. Following the transaction, the chief executive officer now owns 1,260,463 shares of the company’s stock, valued at approximately $7,109,011.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Michael Raab sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $5.64, for a total transaction of $169,200.00. Following the transaction, the chief executive officer now owns 1,260,463 shares of the company’s stock, valued at approximately $7,109,011.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider David P. Rosenbaum sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $5.94, for a total transaction of $118,800.00. Following the transaction, the insider now directly owns 356,479 shares in the company, valued at $2,117,485.26. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 217,126 shares of company stock valued at $1,320,413. Company insiders own 5.50% of the company’s stock.

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.