SG Americas Securities LLC Grows Stake in Ardelyx, Inc. (NASDAQ:ARDX)

SG Americas Securities LLC lifted its position in Ardelyx, Inc. (NASDAQ:ARDX) by 41.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 54,886 shares of the biopharmaceutical company’s stock after purchasing an additional 16,182 shares during the quarter. SG Americas Securities LLC’s holdings in Ardelyx were worth $278,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp raised 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 in the last quarter. Eventide Asset Management LLC increased its position in shares of Ardelyx by 11.2% in the third quarter. Eventide Asset Management LLC now owns 7,413,049 shares of the biopharmaceutical company’s stock worth $51,076,000 after purchasing an additional 746,067 shares during the last quarter. Geode Capital Management LLC raised its stake in Ardelyx by 0.3% in the third quarter. Geode Capital Management LLC now owns 5,487,742 shares of the biopharmaceutical company’s stock valued at $37,818,000 after purchasing an additional 17,296 shares in the last quarter. Rubric Capital Management LP lifted 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Ardelyx by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,938,778 shares of the biopharmaceutical company’s stock worth $13,358,000 after buying an additional 40,702 shares in the last quarter. Hedge funds and other institutional investors own 58.92% of the company’s stock.

Ardelyx Trading Up 0.7 %

Shares of ARDX stock opened at $5.56 on Thursday. The business has a 50-day moving average of $5.24 and a 200 day moving average of $5.63. The company has a debt-to-equity ratio of 0.64, a current ratio of 4.03 and a quick ratio of 3.87. Ardelyx, Inc. has a 1-year low of $4.32 and a 1-year high of $10.13. The stock has a market capitalization of $1.32 billion, a PE ratio of -18.53 and a beta of 0.85.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Jefferies Financial Group lowered their price objective on shares of Ardelyx from $11.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Cantor Fitzgerald upgraded Ardelyx to a “strong-buy” rating in a research report on Thursday, January 30th. HC Wainwright reiterated a “neutral” rating and issued a $5.50 price objective on shares of Ardelyx in a report on Thursday, January 16th. Piper Sandler raised their price objective on Ardelyx from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Finally, Citigroup cut their target price on Ardelyx from $12.00 to $10.00 and set a “buy” rating for the company in a research note 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $9.42.

Insider Buying and Selling at Ardelyx

In related news, CEO Michael Raab sold 31,980 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 $153,184.20. Following the transaction, the chief executive officer now owns 1,175,385 shares in the company, valued at $5,630,094.15. The trade was a 2.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Justin A. Renz sold 5,260 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $4.79, for a total value of $25,195.40. Following the completion of the sale, the chief financial officer now owns 291,139 shares of the company’s stock, valued at approximately $1,394,555.81. This trade represents a 1.77 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 180,681 shares of company stock worth $937,680. 5.90% of the stock is currently owned by insiders.

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.