Janus Henderson Group PLC Has $148.30 Million Stake in Ardelyx, Inc. (NASDAQ:ARDX)

Janus Henderson Group PLC lowered its holdings in shares of Ardelyx, Inc. (NASDAQ:ARDX - Free Report) by 17.0% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 21,529,880 shares of the biopharmaceutical company's stock after selling 4,419,443 shares during the period. Janus Henderson Group PLC owned about 9.09% of Ardelyx worth $148,299,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Eventide Asset Management LLC grew its stake 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 buying an additional 746,067 shares during the last quarter. Millennium Management LLC boosted its holdings 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 in the last quarter. Rubric Capital Management LP grew its position in Ardelyx by 68.5% during the 3rd 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. Charles Schwab Investment Management Inc. increased its holdings in Ardelyx by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,938,778 shares of the biopharmaceutical company's stock worth $13,358,000 after purchasing an additional 40,702 shares in the last quarter. Finally, Propel Bio Management LLC raised its position in Ardelyx by 15.8% in the third quarter. Propel Bio Management LLC now owns 1,070,947 shares of the biopharmaceutical company's stock valued at $7,379,000 after purchasing an additional 146,364 shares during the last quarter. 58.92% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Ardelyx news, insider Laura A. Williams sold 7,366 shares of the firm's stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $4.79, for a total value of $35,283.14. Following the completion of the sale, the insider now directly owns 308,745 shares in the company, valued at approximately $1,478,888.55. This trade represents a 2.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider David P. Rosenbaum sold 5,312 shares of Ardelyx stock in a transaction on Friday, September 13th. The shares were sold at an average price of $6.26, for a total transaction of $33,253.12. Following the completion of the sale, the insider now directly owns 153,616 shares of the company's stock, valued at approximately $961,636.16. This trade 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 worth $1,472,641. Company insiders own 5.90% of the company's stock.

Analysts Set New Price Targets

ARDX has been the subject of several recent research reports. HC Wainwright downgraded 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 note on Monday, November 11th. Citigroup decreased their price target 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. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Ardelyx presently has an average rating of "Moderate Buy" and an average target price of $10.42.

Ardelyx Trading Down 1.4 %

Shares of ARDX traded down $0.08 during trading hours on Thursday, hitting $5.50. 2,781,620 shares of the stock were exchanged, compared to its average volume of 4,913,840. Ardelyx, Inc. has a fifty-two week low of $4.34 and a fifty-two week high of $10.13. The business has a 50-day moving average of $5.74 and a 200-day moving average of $6.00. The firm has a market capitalization of $1.30 billion, a P/E ratio of -18.33 and a beta of 0.83. The company has a debt-to-equity ratio of 0.64, a current ratio of 4.03 and a quick ratio of 3.87.

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.