Inspire Investing LLC Buys 19,630 Shares of Ardelyx, Inc. (NASDAQ:ARDX)

Inspire Investing LLC grew its stake in shares of Ardelyx, Inc. (NASDAQ:ARDX) by 32.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 79,423 shares of the biopharmaceutical company’s stock after acquiring an additional 19,630 shares during the period. Inspire Investing LLC’s holdings in Ardelyx were worth $403,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Coastal Bridge Advisors LLC bought a new stake in Ardelyx during the 2nd quarter valued at $74,000. Helen Stephens Group LLC purchased a new position in shares of Ardelyx during the third quarter valued at $76,000. CWM LLC raised its holdings in shares of Ardelyx by 328.1% in the third quarter. CWM LLC now owns 12,814 shares of the biopharmaceutical company’s stock valued at $88,000 after acquiring an additional 9,821 shares in the last quarter. Aigen Investment Management LP lifted its stake in Ardelyx by 29.4% in the third quarter. Aigen Investment Management LP now owns 23,510 shares of the biopharmaceutical company’s stock worth $162,000 after acquiring an additional 5,346 shares during the period. Finally, Algert Global LLC bought a new position in Ardelyx during the 2nd quarter worth about $174,000. Hedge funds and other institutional investors own 58.92% of the company’s stock.

Insider Activity at Ardelyx

In related news, Director David M. Mott bought 213,300 shares of the company’s stock in a transaction on Thursday, December 19th. The shares were bought at an average price of $4.67 per share, with a total value of $996,111.00. Following the transaction, the director now owns 1,638,765 shares in the company, valued at approximately $7,653,032.55. This trade represents a 14.96 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Raab sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $5.91, for a total transaction of $147,750.00. Following the transaction, the chief executive officer now owns 1,210,108 shares in the company, valued at $7,151,738.28. The trade was a 2.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 218,358 shares of company stock valued at $1,189,516 in the last ninety days. Corporate insiders own 5.90% of the company’s stock.

Ardelyx Stock Performance

Shares of ARDX opened at $5.52 on Friday. The company has a current ratio of 4.03, a quick ratio of 3.87 and a debt-to-equity ratio of 0.64. The firm has a market cap of $1.31 billion, a PE ratio of -18.40 and a beta of 0.85. Ardelyx, Inc. has a 12 month low of $4.32 and a 12 month high of $10.13. The stock has a fifty day moving average price of $5.19 and a 200-day moving average price of $5.65.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Citigroup reduced their price target on shares of Ardelyx from $12.00 to $10.00 and set a “buy” rating for the company in a report on Monday, November 4th. Jefferies Financial Group reduced their price objective on shares of Ardelyx from $11.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Finally, HC Wainwright reaffirmed a “neutral” rating and set a $5.50 target price on shares of Ardelyx in a research report on Thursday, January 16th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $9.25.

Ardelyx 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.