124,939 Shares in Ardelyx, Inc. $ARDX Acquired by Tudor Investment Corp ET AL

Tudor Investment Corp ET AL bought a new stake in shares of Ardelyx, Inc. (NASDAQ:ARDX) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 124,939 shares of the biopharmaceutical company’s stock, valued at approximately $688,000. Tudor Investment Corp ET AL owned 0.05% of Ardelyx as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ARDX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Ardelyx by 2.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 159,061 shares of the biopharmaceutical company’s stock worth $781,000 after acquiring an additional 4,436 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Ardelyx by 10.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,378,738 shares of the biopharmaceutical company’s stock worth $11,680,000 after purchasing an additional 221,486 shares in the last quarter. Focus Partners Wealth purchased a new stake in shares of Ardelyx in the first quarter worth approximately $72,000. Strs Ohio acquired a new stake in shares of Ardelyx during the first quarter worth approximately $135,000. Finally, Legal & General Group Plc boosted its holdings in shares of Ardelyx by 13.5% during the second quarter. Legal & General Group Plc now owns 275,344 shares of the biopharmaceutical company’s stock worth $1,080,000 after purchasing an additional 32,738 shares during the period. Institutional investors and hedge funds own 58.92% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ARDX shares. Citigroup increased their target price on shares of Ardelyx from $11.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday, January 9th. TD Cowen reaffirmed a “buy” rating on shares of Ardelyx in a research note on Thursday, January 29th. Jefferies Financial Group reiterated a “buy” rating and set a $15.00 price objective on shares of Ardelyx in a report on Tuesday, January 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ardelyx in a research report on Wednesday, January 21st. Finally, Piper Sandler raised Ardelyx from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $10.00 to $16.00 in a research report on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $15.70.

Ardelyx Stock Performance

Shares of ARDX opened at $5.99 on Wednesday. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of -23.96 and a beta of 0.61. The company’s fifty day moving average is $6.58 and its 200-day moving average is $6.09. The company has a quick ratio of 4.11, a current ratio of 4.31 and a debt-to-equity ratio of 1.21. Ardelyx, Inc. has a 12 month low of $3.21 and a 12 month high of $8.40.

Ardelyx (NASDAQ:ARDX) last released its quarterly earnings data on Thursday, February 19th. The biopharmaceutical company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.03). The business had revenue of $125.22 million during the quarter, compared to analyst estimates of $118.04 million. Ardelyx had a negative net margin of 15.12% and a negative return on equity of 40.63%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.02 EPS. Equities analysts expect that Ardelyx, Inc. will post -0.18 EPS for the current fiscal year.

Insider Activity at Ardelyx

In other news, insider Mike Kelliher sold 9,595 shares of the business’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $5.85, for a total value of $56,130.75. Following the completion of the sale, the insider directly owned 364,666 shares in the company, valued at approximately $2,133,296.10. The trade was a 2.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David M. Mott bought 333,333 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The stock was purchased at an average price of $5.84 per share, for a total transaction of $1,946,664.72. Following the acquisition, the director directly owned 3,302,918 shares in the company, valued at approximately $19,289,041.12. This trade represents a 11.22% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have sold 178,604 shares of company stock valued at $1,100,917. 4.80% of the stock is owned by company insiders.

Ardelyx Company Profile

Ardelyx, Inc (NASDAQ: ARDX) is a clinical‐stage biopharmaceutical company focused on discovering, developing and commercializing targeted small molecule drugs for cardio‐renal and gastrointestinal diseases. The company’s lead marketed product, tenapanor (sold under the brand name XPHOZAH in the United States), is approved for the treatment of hyperphosphatemia in patients with chronic kidney disease on dialysis. Ardelyx’s proprietary approach targets epithelial transporters in the gastrointestinal tract, offering localized activity with limited systemic exposure.

Beyond tenapanor, Ardelyx’s development pipeline includes treatments designed to address other complications in kidney disease and related metabolic disorders.