CreativeOne Wealth LLC Makes New Investment in Ardelyx, Inc. (NASDAQ:ARDX)

CreativeOne Wealth LLC bought a new stake in Ardelyx, Inc. (NASDAQ:ARDX - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 53,993 shares of the biopharmaceutical company's stock, valued at approximately $274,000.

Several other institutional investors have also recently made changes to their positions in ARDX. Vanguard Group Inc. increased its stake in Ardelyx by 5.6% in the fourth quarter. Vanguard Group Inc. now owns 14,362,659 shares of the biopharmaceutical company's stock worth $72,819,000 after purchasing an additional 767,111 shares during the period. Trexquant Investment LP increased its stake in Ardelyx by 344.7% in the 4th quarter. Trexquant Investment LP now owns 906,311 shares of the biopharmaceutical company's stock worth $4,595,000 after buying an additional 702,487 shares during the period. Jones Financial Companies Lllp lifted its holdings 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 valued at $7,363,000 after buying an additional 583,550 shares in the last quarter. Los Angeles Capital Management LLC boosted 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 buying an additional 299,275 shares during the period. Finally, Capital Fund Management S.A. grew its stake in Ardelyx by 226.8% in the 4th quarter. Capital Fund Management S.A. now owns 313,064 shares of the biopharmaceutical company's stock worth $1,587,000 after acquiring an additional 217,253 shares in the last quarter. Institutional investors own 58.92% of the company's stock.

Insider Transactions at Ardelyx

In other Ardelyx news, Director David M. Mott purchased 77,729 shares of the firm's stock in a transaction on Monday, February 24th. The stock was bought at an average cost of $5.00 per share, for a total transaction of $388,645.00. Following the completion of the purchase, the director now owns 2,015,494 shares in the company, valued at $10,077,470. This represents a 4.01 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Raab sold 41,668 shares of the business's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $5.36, for a total value of $223,340.48. Following the sale, the chief executive officer now owns 1,635,138 shares in the company, valued at $8,764,339.68. The trade was a 2.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 158,076 shares of company stock valued at $823,804 in the last quarter. 5.90% of the stock is currently owned by corporate insiders.

Ardelyx Stock Up 0.8 %

Ardelyx stock traded up $0.04 during trading hours on Wednesday, reaching $4.85. The stock had a trading volume of 4,193,134 shares, compared to its average volume of 4,380,857. The company has a market cap of $1.16 billion, a price-to-earnings ratio of -30.31 and a beta of 0.81. The business's 50 day moving average price is $5.09 and its 200-day moving average price is $5.30. Ardelyx, Inc. has a 52 week low of $4.02 and a 52 week high of $9.33. 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 (NASDAQ:ARDX - Get Free Report) last posted its earnings results 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 net margin of 11.73% and a negative return on equity of 24.87%. The company had revenue of $116.13 million during the quarter, compared to analysts' expectations of $111.16 million. Sell-side analysts anticipate that Ardelyx, Inc. will post -0.18 EPS for the current year.

Analyst Ratings Changes

ARDX has been the subject of several research analyst reports. BTIG Research started coverage on shares of Ardelyx in a research note on Tuesday, March 4th. They set a "buy" rating and a $14.00 price target for the company. HC Wainwright reiterated a "neutral" rating and issued a $5.50 target price on shares of Ardelyx in a report on Friday, February 21st. LADENBURG THALM/SH SH reissued a "buy" rating and set a $11.00 price target on shares of Ardelyx in a research report on Friday, March 7th. Raymond James restated a "strong-buy" rating and issued a $13.00 price objective (down from $15.00) on shares of Ardelyx in a report on Friday, February 21st. Finally, Cantor Fitzgerald upgraded shares of Ardelyx to a "strong-buy" rating in a report on Tuesday, March 4th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price 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.