Redwood Wealth Management Group LLC acquired a new position in Ardelyx, Inc. (NASDAQ:ARDX – Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 8,350 shares of the biopharmaceutical company’s stock, valued at approximately $62,000.
A number of other hedge funds have also recently made changes to their positions in the stock. Ausdal Financial Partners Inc. lifted its stake in Ardelyx by 89.1% during the second quarter. Ausdal Financial Partners Inc. now owns 28,770 shares of the biopharmaceutical company’s stock worth $213,000 after purchasing an additional 13,557 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in Ardelyx during the 2nd quarter worth about $832,000. Principal Financial Group Inc. boosted its holdings in Ardelyx by 283.9% during the 2nd quarter. Principal Financial Group Inc. now owns 471,453 shares of the biopharmaceutical company’s stock valued at $3,493,000 after acquiring an additional 348,642 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Ardelyx by 34.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 63,176 shares of the biopharmaceutical company’s stock valued at $468,000 after acquiring an additional 16,198 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in Ardelyx by 1,026.3% during the second quarter. Nisa Investment Advisors LLC now owns 3,548 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 3,233 shares during the period. Hedge funds and other institutional investors own 58.92% of the company’s stock.
Insider Activity at Ardelyx
In other Ardelyx news, insider Robert Blanks sold 38,000 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $5.96, for a total transaction of $226,480.00. Following the sale, the insider now owns 324,331 shares of the company’s stock, valued at $1,933,012.76. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Michael Raab sold 35,000 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $5.61, for a total value of $196,350.00. Following the completion of the sale, the chief executive officer now directly owns 1,220,608 shares of the company’s stock, valued at approximately $6,847,610.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert Blanks sold 38,000 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $5.96, for a total value of $226,480.00. Following the completion of the sale, the insider now directly owns 324,331 shares of the company’s stock, valued at $1,933,012.76. The disclosure for this sale can be found here. Insiders sold 199,560 shares of company stock valued at $1,167,370 over the last three months. 5.50% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
Check Out Our Latest Report on ARDX
Ardelyx Stock Performance
Shares of ARDX stock opened at $6.31 on Monday. The company has a market cap of $1.49 billion, a P/E ratio of -22.54 and a beta of 0.90. The firm has a fifty day moving average price of $5.84 and a 200 day moving average price of $6.75. The company has a current ratio of 4.21, a quick ratio of 3.99 and a debt-to-equity ratio of 0.68. Ardelyx, Inc. has a 12 month low of $3.16 and a 12 month high of $10.13.
Ardelyx (NASDAQ:ARDX – Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.04. Ardelyx had a negative return on equity of 39.73% and a negative net margin of 31.02%. The business had revenue of $73.20 million during the quarter, compared to analysts’ expectations of $55.03 million. During the same period in the prior year, the firm posted ($0.08) EPS. The business’s quarterly revenue was up 228.3% compared to the same quarter last year. Sell-side analysts predict that Ardelyx, Inc. will post -0.26 earnings per share for the current fiscal year.
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.
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