Eventide Asset Management LLC Has $51.08 Million Stock Holdings in Ardelyx, Inc. (NASDAQ:ARDX)

Eventide Asset Management LLC raised its holdings in shares of Ardelyx, Inc. (NASDAQ:ARDX) by 11.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 7,413,049 shares of the biopharmaceutical company’s stock after acquiring an additional 746,067 shares during the period. Eventide Asset Management LLC owned approximately 3.13% of Ardelyx worth $51,076,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Ardelyx by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 13,391,855 shares of the biopharmaceutical company’s stock valued at $97,761,000 after acquiring an additional 365,809 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Ardelyx by 68.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,913,863 shares of the biopharmaceutical company’s stock valued at $28,572,000 after acquiring an additional 1,584,597 shares during the last quarter. Millennium Management LLC raised its position in shares of Ardelyx by 142.8% during the 2nd quarter. Millennium Management LLC now owns 3,203,090 shares of the biopharmaceutical company’s stock valued at $23,735,000 after acquiring an additional 1,883,995 shares during the last quarter. Rubric Capital Management LP raised its position in shares of Ardelyx by 68.5% during the 3rd quarter. Rubric Capital Management LP now owns 3,060,191 shares of the biopharmaceutical company’s stock valued at $21,085,000 after acquiring an additional 1,243,606 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Ardelyx by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,938,778 shares of the biopharmaceutical company’s stock valued at $13,358,000 after acquiring an additional 40,702 shares during the last quarter. Institutional investors own 58.92% of the company’s stock.

Insider Buying and Selling

In other news, insider Laura A. Williams sold 7,366 shares of the stock in a transaction dated Wednesday, November 20th. The shares were 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 directly owns 308,745 shares in the company, valued at $1,478,888.55. This represents a 2.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider David P. Rosenbaum sold 5,312 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $6.26, for a total transaction of $33,253.12. Following the transaction, the insider now owns 153,616 shares of the company’s stock, valued at approximately $961,636.16. This represents a 3.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 252,068 shares of company stock valued at $1,472,641. Company insiders own 5.90% of the company’s stock.

Ardelyx Price Performance

Shares of NASDAQ ARDX opened at $5.69 on Friday. The firm has a market cap of $1.35 billion, a PE ratio of -18.97 and a beta of 0.92. The company has a current ratio of 4.03, a quick ratio of 3.87 and a debt-to-equity ratio of 0.64. Ardelyx, Inc. has a 1-year low of $4.06 and a 1-year high of $10.13. The company has a fifty day moving average price of $5.79 and a 200 day moving average price of $6.08.

Analysts Set New Price Targets

ARDX has been the subject of a number of recent analyst reports. Citigroup lowered their price objective on shares of Ardelyx from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, November 4th. HC Wainwright cut shares of Ardelyx from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $11.00 to $5.50 in a research report on Monday, November 11th. Finally, Wedbush restated an “outperform” rating and issued a $11.00 price objective on shares of Ardelyx in a research report on Friday, August 2nd. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.42.

About Ardelyx

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.