Charles Schwab Investment Management Inc. Has $10.32 Million Holdings in Ardelyx, Inc. (NASDAQ:ARDX)

Charles Schwab Investment Management Inc. grew its position in Ardelyx, Inc. (NASDAQ:ARDX - Free Report) by 5.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,035,135 shares of the biopharmaceutical company's stock after acquiring an additional 96,357 shares during the period. Charles Schwab Investment Management Inc. owned 0.86% of Ardelyx worth $10,318,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of ARDX. SBI Securities Co. Ltd. acquired a new position in Ardelyx in the fourth quarter worth $41,000. Jones Financial Companies Lllp lifted its position in Ardelyx by 67.2% during the 4th quarter. Jones Financial Companies Lllp now owns 1,452,176 shares of the biopharmaceutical company's stock worth $7,363,000 after buying an additional 583,550 shares in the last quarter. Kovack Advisors Inc. bought a new stake in Ardelyx during the 4th quarter worth about $91,000. Los Angeles Capital Management LLC increased its position in Ardelyx by 175.5% in the 4th quarter. Los Angeles Capital Management LLC now owns 469,819 shares of the biopharmaceutical company's stock valued at $2,382,000 after acquiring an additional 299,275 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Ardelyx by 9.4% in the fourth quarter. Principal Financial Group Inc. now owns 148,142 shares of the biopharmaceutical company's stock worth $751,000 after acquiring an additional 12,703 shares during the last quarter. 58.92% of the stock is owned by institutional investors and hedge funds.

Ardelyx Trading Down 2.9 %

NASDAQ:ARDX traded down $0.15 during trading hours on Wednesday, hitting $5.04. The stock had a trading volume of 5,299,578 shares, compared to its average volume of 4,328,889. Ardelyx, Inc. has a one year low of $4.32 and a one year high of $9.33. The company has a market cap of $1.20 billion, a price-to-earnings ratio of -31.50 and a beta of 0.87. The company has a debt-to-equity ratio of 0.87, a quick ratio of 4.31 and a current ratio of 4.58. The business's 50 day moving average is $5.41 and its 200-day moving average is $5.53.

Remove Ads

Ardelyx (NASDAQ:ARDX - Get Free Report) last posted its earnings results on Thursday, February 20th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, hitting the consensus estimate 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 for the quarter, compared to analyst estimates of $111.16 million. Sell-side analysts anticipate that Ardelyx, Inc. will post -0.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on ARDX shares. Piper Sandler raised shares of Ardelyx to a "hold" rating in a research note on Wednesday, March 12th. Cantor Fitzgerald raised Ardelyx to a "strong-buy" rating in a research note on Tuesday, March 4th. Jefferies Financial Group dropped their target price on Ardelyx from $11.00 to $8.00 and set a "buy" rating for the company in a research report on Thursday, January 2nd. Scotiabank assumed coverage on Ardelyx in a research report on Friday, March 7th. They issued a "sector outperform" rating and a $15.00 price objective for the company. Finally, BTIG Research initiated coverage on shares of Ardelyx in a research report on Tuesday, March 4th. They set a "buy" rating and a $14.00 target price on the stock. 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $10.95.

Insider Activity at Ardelyx

In other news, CEO Michael Raab sold 41,666 shares of the company's stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $5.31, for a total value of $221,246.46. Following the completion of the transaction, the chief executive officer now owns 1,129,552 shares in the company, valued at $5,997,921.12. This represents a 3.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David M. Mott acquired 199,000 shares of the company's stock in a transaction that occurred on Tuesday, January 21st. The shares were bought at an average price of $4.99 per share, for a total transaction of $993,010.00. Following the completion of the acquisition, the director now owns 1,937,765 shares of the company's stock, valued at $9,669,447.35. This trade represents a 11.44 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders sold 158,076 shares of company stock worth $853,804. 5.90% of the stock is owned by company insiders.

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.