Geode Capital Management LLC Increases Stock Position in Ardelyx, Inc. (NASDAQ:ARDX)

Geode Capital Management LLC boosted its holdings in shares of Ardelyx, Inc. (NASDAQ:ARDX) by 0.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,487,742 shares of the biopharmaceutical company’s stock after buying an additional 17,296 shares during the quarter. Geode Capital Management LLC owned approximately 2.32% of Ardelyx worth $37,818,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. State Street Corp increased its holdings in shares of Ardelyx by 1.5% in the 3rd quarter. State Street Corp now owns 12,141,850 shares of the biopharmaceutical company’s stock valued at $83,657,000 after acquiring an additional 176,789 shares during the period. Rubric Capital Management LP boosted its position in Ardelyx by 68.5% during the third quarter. Rubric Capital Management LP now owns 3,060,191 shares of the biopharmaceutical company’s stock valued at $21,085,000 after purchasing an additional 1,243,606 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Ardelyx by 274.3% in the third quarter. BNP Paribas Financial Markets now owns 181,387 shares of the biopharmaceutical company’s stock valued at $1,250,000 after purchasing an additional 132,928 shares during the last quarter. Vestal Point Capital LP bought a new position in Ardelyx in the third quarter worth about $3,445,000. Finally, Millennium Management LLC lifted its position in shares of Ardelyx by 142.8% during the second quarter. Millennium Management LLC now owns 3,203,090 shares of the biopharmaceutical company’s stock valued at $23,735,000 after buying an additional 1,883,995 shares during the last quarter. Institutional investors own 58.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ARDX shares. HC Wainwright downgraded shares of Ardelyx from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $11.00 to $5.50 in a research report on Monday, November 11th. Citigroup cut their price target on shares of Ardelyx from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Ardelyx presently has a consensus rating of “Moderate Buy” and an average target price of $10.42.

Insider Activity

In other Ardelyx news, CFO Justin A. Renz sold 5,260 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $4.79, for a total transaction of $25,195.40. Following the sale, the chief financial officer now owns 291,139 shares in the company, valued at approximately $1,394,555.81. The trade was a 1.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David M. Mott acquired 213,300 shares of Ardelyx stock in a transaction dated Thursday, December 19th. The stock was purchased at an average price of $4.67 per share, with a total value of $996,111.00. Following the completion of the purchase, the director now owns 1,638,765 shares of the company’s stock, valued at approximately $7,653,032.55. The trade was a 14.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 236,756 shares of company stock valued at $1,374,538 over the last ninety days. 5.90% of the stock is currently owned by insiders.

Ardelyx Trading Up 1.3 %

Shares of Ardelyx stock opened at $4.64 on Wednesday. The firm’s 50 day simple moving average is $5.42 and its two-hundred day simple moving average is $5.81. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of -15.47 and a beta of 0.83. Ardelyx, Inc. has a 12-month low of $4.32 and a 12-month high of $10.13. The company has a current ratio of 4.03, a quick ratio of 3.87 and a debt-to-equity ratio of 0.64.

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.