Walleye Capital LLC Acquires Shares of 171,014 Ardelyx, Inc. $ARDX

Walleye Capital LLC bought a new position in Ardelyx, Inc. (NASDAQ:ARDX) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 171,014 shares of the biopharmaceutical company’s stock, valued at approximately $872,000.

A number of other institutional investors have also recently modified their holdings of ARDX. Mercer Global Advisors Inc. ADV grew its stake in shares of Ardelyx by 4.7% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 38,512 shares of the biopharmaceutical company’s stock worth $225,000 after acquiring an additional 1,722 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Ardelyx by 26.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,807 shares of the biopharmaceutical company’s stock worth $69,000 after purchasing an additional 2,491 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in Ardelyx by 0.7% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 347,609 shares of the biopharmaceutical company’s stock worth $2,027,000 after purchasing an additional 2,532 shares in the last quarter. Cerity Partners LLC boosted its stake in Ardelyx by 5.3% in the 4th quarter. Cerity Partners LLC now owns 59,359 shares of the biopharmaceutical company’s stock worth $346,000 after purchasing an additional 2,972 shares in the last quarter. Finally, Integrated Wealth Concepts LLC grew its position in Ardelyx by 24.2% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 15,263 shares of the biopharmaceutical company’s stock valued at $84,000 after purchasing an additional 2,975 shares during the last quarter. 58.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ARDX has been the subject of a number of analyst reports. Citigroup reduced their price objective on shares of Ardelyx from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Monday, August 10th. Weiss Ratings downgraded shares of Ardelyx from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, June 29th. HC Wainwright reiterated a “buy” rating and set a $13.00 price target on shares of Ardelyx in a report on Friday, August 7th. BTIG Research reduced their price target on shares of Ardelyx from $17.00 to $14.00 and set a “buy” rating for the company in a research report on Friday, August 7th. Finally, TD Cowen reduced their price target on shares of Ardelyx from $13.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $15.00.

Ardelyx Trading Up 3.8%

Shares of NASDAQ:ARDX opened at $4.06 on Friday. The company has a debt-to-equity ratio of 1.69, a current ratio of 3.34 and a quick ratio of 3.28. Ardelyx, Inc. has a 1 year low of $3.86 and a 1 year high of $8.40. The company has a market cap of $1.01 billion, a P/E ratio of -18.45 and a beta of 0.70. The stock’s fifty day moving average price is $5.22 and its 200-day moving average price is $5.95.

Ardelyx (NASDAQ:ARDX) last released its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.02). Ardelyx had a negative return on equity of 36.00% and a negative net margin of 12.35%.The business had revenue of $120.88 million during the quarter, compared to the consensus estimate of $121.03 million. During the same quarter in the previous year, the business posted ($0.08) earnings per share. Ardelyx’s quarterly revenue was up 34.3% compared to the same quarter last year. Sell-side analysts expect that Ardelyx, Inc. will post -0.18 earnings per share for the current year.

Insider Transactions at Ardelyx

In other news, insider Eric Duane Foster sold 7,998 shares of Ardelyx stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $6.27, for a total value of $50,147.46. Following the completion of the sale, the insider directly owned 417,972 shares in the company, valued at $2,620,684.44. The trade was a 1.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mike Kelliher sold 7,248 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $6.27, for a total transaction of $45,444.96. Following the transaction, the insider directly owned 357,418 shares of the company’s stock, valued at $2,241,010.86. The trade was a 1.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 24,572 shares of company stock worth $154,066. Insiders own 5.30% of the company’s stock.

Ardelyx 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.