Capital Fund Management S.A. Purchases 217,253 Shares of Ardelyx, Inc. (NASDAQ:ARDX)

Capital Fund Management S.A. raised its position in Ardelyx, Inc. (NASDAQ:ARDX - Free Report) by 226.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 313,064 shares of the biopharmaceutical company's stock after buying an additional 217,253 shares during the quarter. Capital Fund Management S.A. owned about 0.13% of Ardelyx worth $1,587,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Newbridge Financial Services Group Inc. bought a new stake in shares of Ardelyx in the fourth quarter worth $35,000. SBI Securities Co. Ltd. acquired a new stake in shares of Ardelyx in the 4th quarter worth about $41,000. Sheets Smith Investment Management acquired a new stake in Ardelyx in the 4th quarter valued at approximately $58,000. KBC Group NV raised its stake in shares of Ardelyx by 101.8% during the fourth quarter. KBC Group NV now owns 13,706 shares of the biopharmaceutical company's stock valued at $69,000 after purchasing an additional 6,915 shares in the last quarter. Finally, Orion Portfolio Solutions LLC raised its holdings in Ardelyx by 42.7% during the fourth quarter. Orion Portfolio Solutions LLC now owns 16,486 shares of the biopharmaceutical company's stock worth $84,000 after purchasing an additional 4,933 shares in the last quarter. 58.92% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director David M. Mott acquired 199,000 shares of the stock in a transaction on Tuesday, January 21st. The stock was acquired at an average cost of $4.99 per share, for a total transaction of $993,010.00. Following the completion of the acquisition, the director now directly owns 1,937,765 shares of the company's stock, valued at approximately $9,669,447.35. This represents a 11.44 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Raab sold 41,666 shares of the company's stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $4.59, for a total value of $191,246.94. Following the completion of the sale, the chief executive officer now owns 1,615,587 shares in the company, valued at $7,415,544.33. The trade was a 2.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 158,076 shares of company stock worth $823,804 over the last 90 days. Corporate insiders own 5.90% of the company's stock.

Ardelyx Stock Down 0.5 %

Shares of ARDX traded down $0.03 during trading hours on Monday, hitting $4.80. The stock had a trading volume of 475,213 shares, compared to its average volume of 4,365,048. The company has a debt-to-equity ratio of 0.87, a current ratio of 4.58 and a quick ratio of 4.31. Ardelyx, Inc. has a 1-year low of $4.02 and a 1-year high of $9.33. The firm has a 50 day simple moving average of $5.13 and a 200-day simple moving average of $5.32. The firm has a market capitalization of $1.14 billion, a P/E ratio of -29.86 and a beta of 0.81.

Ardelyx (NASDAQ:ARDX - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The biopharmaceutical company reported $0.02 EPS for the quarter, meeting the consensus estimate of $0.02. Ardelyx had a negative net margin of 11.73% and a negative return on equity of 24.87%. The firm had revenue of $116.13 million during the quarter, compared to analyst estimates of $111.16 million. Sell-side analysts predict that Ardelyx, Inc. will post -0.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ARDX has been the topic of a number of research analyst reports. BTIG Research initiated coverage on Ardelyx in a report on Tuesday, March 4th. They set a "buy" rating and a $14.00 price target on the stock. Piper Sandler raised shares of Ardelyx to a "hold" rating in a report on Wednesday, March 12th. Jefferies Financial Group lowered their price objective on shares of Ardelyx from $11.00 to $8.00 and set a "buy" rating on the stock in a research note on Thursday, January 2nd. LADENBURG THALM/SH SH restated a "buy" rating and set a $11.00 price objective on shares of Ardelyx in a research report on Friday, March 7th. Finally, Scotiabank began coverage on Ardelyx in a research report on Friday, March 7th. They set a "sector outperform" rating and a $15.00 target price for the company. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $10.61.

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.