Inceptionr LLC Purchases 9,367 Shares of Ardelyx, Inc. (NASDAQ:ARDX)

Inceptionr LLC raised its position in Ardelyx, Inc. (NASDAQ:ARDX) by 87.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 20,133 shares of the biopharmaceutical company’s stock after buying an additional 9,367 shares during the period. Inceptionr LLC’s holdings in Ardelyx were worth $102,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Rubric Capital Management LP raised its position in shares of Ardelyx by 68.5% during the third quarter. Rubric Capital Management LP now owns 3,060,191 shares of the biopharmaceutical company’s stock worth $21,085,000 after acquiring an additional 1,243,606 shares during the last quarter. Eventide Asset Management LLC raised its position in shares of Ardelyx by 11.2% during the third quarter. Eventide Asset Management LLC now owns 7,413,049 shares of the biopharmaceutical company’s stock worth $51,076,000 after acquiring an additional 746,067 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of Ardelyx by 67.2% during the fourth quarter. Jones Financial Companies Lllp now owns 1,452,176 shares of the biopharmaceutical company’s stock worth $7,363,000 after acquiring an additional 583,550 shares during the last quarter. Vestal Point Capital LP bought a new position in shares of Ardelyx during the third quarter worth about $3,445,000. Finally, Los Angeles Capital Management LLC raised its position in shares of Ardelyx by 175.5% during the fourth quarter. Los Angeles Capital Management LLC now owns 469,819 shares of the biopharmaceutical company’s stock worth $2,382,000 after acquiring an additional 299,275 shares during the last quarter. 58.92% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Raymond James restated a “strong-buy” rating and set a $13.00 price objective (down from $15.00) on shares of Ardelyx in a research report on Friday, February 21st. BTIG Research assumed coverage on Ardelyx in a research report on Tuesday, March 4th. They set a “buy” rating and a $14.00 price objective for the company. Piper Sandler lifted their target price on Ardelyx from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. HC Wainwright reiterated a “neutral” rating and issued a $5.50 target price on shares of Ardelyx in a report on Friday, February 21st. Finally, Jefferies Financial Group lowered their target price on Ardelyx from $11.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $10.95.

Ardelyx Trading Down 1.1 %

Shares of Ardelyx stock opened at $5.24 on Tuesday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 4.31 and a current ratio of 4.58. Ardelyx, Inc. has a 52 week low of $4.32 and a 52 week high of $9.33. The stock has a 50 day moving average price of $5.39 and a two-hundred day moving average price of $5.58. The stock has a market capitalization of $1.25 billion, a PE ratio of -32.75 and a beta of 0.87.

Ardelyx (NASDAQ:ARDX) last announced its quarterly earnings data on Thursday, February 20th. The biopharmaceutical company reported $0.02 EPS for the quarter, meeting analysts’ consensus estimates of $0.02. Ardelyx had a negative return on equity of 24.87% and a negative net margin of 11.73%. The firm had revenue of $116.13 million during the quarter, compared to analysts’ expectations of $111.16 million. As a group, equities analysts anticipate that Ardelyx, Inc. will post -0.18 earnings per share for the current fiscal year.

Insider Activity at Ardelyx

In related news, Director David M. Mott bought 213,300 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 1,638,765 shares in the company, valued at approximately $7,653,032.55. This represents a 14.96 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Justin A. Renz sold 5,171 shares of Ardelyx stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $5.62, for a total value of $29,061.02. Following the transaction, the chief financial officer now directly owns 285,968 shares in the company, valued at approximately $1,607,140.16. The trade was a 1.78 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 490,029 shares of company stock valued at $2,377,766 and have sold 158,076 shares valued at $853,804. 5.90% of the stock is owned by insiders.

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.