Inspire Investing LLC Raises Stake in Ardelyx, Inc. (NASDAQ:ARDX)

Inspire Investing LLC boosted its holdings in shares of Ardelyx, Inc. (NASDAQ:ARDX) by 32.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 79,423 shares of the biopharmaceutical company’s stock after buying an additional 19,630 shares during the quarter. Inspire Investing LLC’s holdings in Ardelyx were worth $403,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Coastal Bridge Advisors LLC acquired a new stake in shares of Ardelyx in the second quarter worth $74,000. Helen Stephens Group LLC purchased a new stake in Ardelyx in the third quarter valued at $76,000. CWM LLC grew its position in Ardelyx by 328.1% during the 3rd quarter. CWM LLC now owns 12,814 shares of the biopharmaceutical company’s stock worth $88,000 after purchasing an additional 9,821 shares during the period. Aigen Investment Management LP raised its stake in shares of Ardelyx by 29.4% during the 3rd quarter. Aigen Investment Management LP now owns 23,510 shares of the biopharmaceutical company’s stock valued at $162,000 after buying an additional 5,346 shares during the last quarter. Finally, Algert Global LLC acquired a new position in shares of Ardelyx in the 2nd quarter valued at about $174,000. 58.92% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Ardelyx news, insider Laura A. Williams sold 7,366 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 transaction of $35,283.14. Following the completion of the transaction, the insider now owns 308,745 shares of the company’s stock, valued at $1,478,888.55. This represents a 2.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David P. Rosenbaum sold 27,172 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $5.95, for a total value of $161,673.40. Following the completion of the transaction, the insider now owns 153,616 shares in the company, valued at approximately $914,015.20. This trade represents a 15.03 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 218,358 shares of company stock worth $1,189,516. Company insiders own 5.90% of the company’s stock.

Ardelyx Trading Up 0.2 %

Shares of ARDX stock opened at $5.52 on Friday. The stock has a 50 day simple moving average of $5.19 and a 200-day simple moving average of $5.65. Ardelyx, Inc. has a 1-year low of $4.32 and a 1-year high of $10.13. The company has a market cap of $1.31 billion, a price-to-earnings ratio of -18.40 and a beta of 0.85. The company has a debt-to-equity ratio of 0.64, a current ratio of 4.03 and a quick ratio of 3.87.

Analyst Upgrades and Downgrades

ARDX has been the topic of several analyst reports. Citigroup dropped their target price on Ardelyx from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Jefferies Financial Group cut their target price 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, 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. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $9.25.

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.