West Michigan Advisors LLC Has $142,000 Holdings in Ardelyx, Inc. (NASDAQ:ARDX)

West Michigan Advisors LLC trimmed its position in Ardelyx, Inc. (NASDAQ:ARDX) by 15.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,000 shares of the biopharmaceutical company’s stock after selling 5,000 shares during the quarter. West Michigan Advisors LLC’s holdings in Ardelyx were worth $142,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in ARDX. Newbridge Financial Services Group Inc. acquired a new position in shares of Ardelyx in the 4th quarter valued at about $35,000. KBC Group NV grew its position in Ardelyx by 101.8% during the fourth quarter. KBC Group NV now owns 13,706 shares of the biopharmaceutical company’s stock valued at $69,000 after purchasing an additional 6,915 shares in the last quarter. Kovack Advisors Inc. acquired a new position in Ardelyx in the 4th quarter valued at approximately $91,000. Bleakley Financial Group LLC acquired a new position in Ardelyx in the 4th quarter valued at approximately $98,000. Finally, Aigen Investment Management LP lifted its position in Ardelyx by 29.4% in the 3rd 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 in the last quarter. 58.92% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ardelyx

In other news, CEO Michael Raab sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $5.26, for a total transaction of $131,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,150,385 shares in the company, valued at $6,051,025.10. The trade was a 2.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David M. Mott acquired 77,729 shares of Ardelyx stock in a transaction dated Monday, February 24th. The stock was acquired at an average cost of $5.00 per share, with a total value of $388,645.00. Following the completion of the transaction, the director now directly owns 2,015,494 shares of the company’s stock, valued at $10,077,470. This trade represents a 4.01 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 490,029 shares of company stock worth $2,377,766 and sold 141,408 shares worth $761,963. Corporate insiders own 5.90% of the company’s stock.

Ardelyx Stock Up 2.7 %

Shares of Ardelyx stock opened at $5.36 on Friday. Ardelyx, Inc. has a 12-month low of $4.32 and a 12-month high of $9.83. The company has a quick ratio of 4.31, a current ratio of 4.58 and a debt-to-equity ratio of 0.87. The stock has a 50 day moving average price of $5.33 and a two-hundred day moving average price of $5.61. The stock has a market capitalization of $1.28 billion, a P/E ratio of -33.50 and a beta of 0.85.

Ardelyx (NASDAQ:ARDX) last posted its quarterly earnings data on Thursday, February 20th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.02. The business had revenue of $116.13 million during the quarter, compared to the consensus estimate of $111.16 million. Ardelyx had a negative net margin of 11.73% and a negative return on equity of 24.87%. Equities analysts expect that Ardelyx, Inc. will post -0.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ARDX. HC Wainwright reiterated a “neutral” rating and set a $5.50 price objective on shares of Ardelyx in a report on Friday, February 21st. Jefferies Financial Group cut their price target on Ardelyx from $11.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Citigroup lowered their price target on Ardelyx from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Piper Sandler increased their price objective on Ardelyx from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Finally, Cantor Fitzgerald upgraded shares of Ardelyx to a “strong-buy” rating in a research note on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.93.

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.