JPMorgan Chase & Co. Acquires 6,093 Shares of Ardelyx, Inc. (NASDAQ:ARDX)

JPMorgan Chase & Co. grew its holdings in Ardelyx, Inc. (NASDAQ:ARDX) by 1.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 387,144 shares of the biopharmaceutical company’s stock after buying an additional 6,093 shares during the period. JPMorgan Chase & Co. owned approximately 0.16% of Ardelyx worth $2,667,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in ARDX. Coastal Bridge Advisors LLC purchased a new position in shares of Ardelyx in the 2nd quarter worth approximately $74,000. Helen Stephens Group LLC purchased a new position in shares of Ardelyx during the third quarter valued at approximately $76,000. CWM LLC grew its stake in shares of Ardelyx by 328.1% during the third quarter. CWM LLC now owns 12,814 shares of the biopharmaceutical company’s stock valued at $88,000 after buying an additional 9,821 shares during the last quarter. Aigen Investment Management LP raised its holdings 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 worth $162,000 after buying an additional 5,346 shares during the period. Finally, Algert Global LLC bought a new stake in shares of Ardelyx during the 2nd quarter worth approximately $174,000. 58.92% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on ARDX. HC Wainwright reiterated a “neutral” rating and issued a $5.50 target price on shares of Ardelyx in a research note on Thursday, January 16th. Jefferies Financial Group decreased their price objective on shares of Ardelyx from $11.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Finally, Citigroup dropped their target price on shares of Ardelyx from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $9.25.

Ardelyx Price Performance

Shares of ARDX opened at $5.01 on Tuesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.87 and a current ratio of 4.03. The stock has a market capitalization of $1.19 billion, a PE ratio of -16.70 and a beta of 0.85. The company has a 50 day moving average price of $5.15 and a 200-day moving average price of $5.65. Ardelyx, Inc. has a fifty-two week low of $4.32 and a fifty-two week high of $10.13.

Insider Transactions at Ardelyx

In other news, CEO Michael Raab sold 41,666 shares of the firm’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 completion of the sale, the chief executive officer now owns 1,129,552 shares of the company’s stock, valued at $5,997,921.12. This trade represents a 3.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David P. Rosenbaum sold 27,172 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $5.95, for a total value of $161,673.40. Following the sale, the insider now owns 153,616 shares in the company, valued at $914,015.20. The trade was a 15.03 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 218,358 shares of company stock valued at $1,189,516. Corporate insiders own 5.90% of the company’s stock.

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.