Ardelyx, Inc. $ARDX Shares Acquired by Aberdeen Group plc

Aberdeen Group plc lifted its position in shares of Ardelyx, Inc. (NASDAQ:ARDX) by 30.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,112,476 shares of the biopharmaceutical company’s stock after purchasing an additional 260,757 shares during the quarter. Aberdeen Group plc’s holdings in Ardelyx were worth $4,361,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its stake in shares of Ardelyx by 21.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 65,030 shares of the biopharmaceutical company’s stock worth $278,000 after purchasing an additional 11,694 shares during the period. Harbor Capital Advisors Inc. grew its stake in shares of Ardelyx by 79.6% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 233,248 shares of the biopharmaceutical company’s stock worth $914,000 after purchasing an additional 103,385 shares during the period. Rhumbline Advisers grew its stake in Ardelyx by 4.1% in the 1st quarter. Rhumbline Advisers now owns 339,436 shares of the biopharmaceutical company’s stock valued at $1,667,000 after acquiring an additional 13,312 shares during the period. Strs Ohio acquired a new stake in Ardelyx in the 1st quarter valued at $135,000. Finally, Focus Partners Wealth acquired a new stake in Ardelyx in the 1st quarter valued at $72,000. Institutional investors and hedge funds own 58.92% of the company’s stock.

Insider Buying and Selling

In other Ardelyx news, insider Elizabeth A. Grammer sold 5,841 shares of the firm’s stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $5.93, for a total value of $34,637.13. Following the transaction, the insider owned 305,890 shares in the company, valued at approximately $1,813,927.70. This trade represents a 1.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Justin A. Renz sold 7,037 shares of Ardelyx stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $5.93, for a total value of $41,729.41. Following the transaction, the chief financial officer owned 409,052 shares in the company, valued at approximately $2,425,678.36. This represents a 1.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 165,551 shares of company stock worth $996,917 in the last ninety days. Company insiders own 4.80% of the company’s stock.

Ardelyx Trading Down 1.6%

Shares of ARDX stock opened at $5.05 on Friday. The stock’s fifty day moving average is $5.89 and its two-hundred day moving average is $4.81. The company has a debt-to-equity ratio of 1.44, a quick ratio of 4.03 and a current ratio of 4.30. The firm has a market capitalization of $1.22 billion, a P/E ratio of -21.96 and a beta of 0.67. Ardelyx, Inc. has a fifty-two week low of $3.21 and a fifty-two week high of $6.78.

Ardelyx (NASDAQ:ARDX) last announced its quarterly earnings data on Monday, August 4th. The biopharmaceutical company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.05. The company had revenue of $97.66 million for the quarter, compared to analyst estimates of $82.69 million. Ardelyx had a negative return on equity of 36.57% and a negative net margin of 14.60%.The firm’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.07) EPS. Research analysts expect that Ardelyx, Inc. will post -0.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently issued reports on ARDX. Weiss Ratings reissued a “sell (d-)” rating on shares of Ardelyx in a research note on Wednesday, October 8th. Wedbush reissued an “outperform” rating and issued a $14.00 price target (up previously from $13.00) on shares of Ardelyx in a research note on Tuesday, August 5th. Piper Sandler lifted their price target on shares of Ardelyx from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Wednesday, August 6th. UBS Group set a $12.00 price target on shares of Ardelyx in a research note on Tuesday, August 5th. Finally, Raymond James Financial began coverage on shares of Ardelyx in a research note on Wednesday, September 3rd. They issued a “strong-buy” rating and a $14.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $11.70.

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.