Ardelyx, Inc. (NASDAQ:ARDX) Shares Acquired by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC increased its holdings in shares of Ardelyx, Inc. (NASDAQ:ARDX - Free Report) by 175.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 469,819 shares of the biopharmaceutical company's stock after acquiring an additional 299,275 shares during the quarter. Los Angeles Capital Management LLC owned about 0.20% of Ardelyx worth $2,382,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Ardelyx by 3.4% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 90,000 shares of the biopharmaceutical company's stock worth $599,000 after purchasing an additional 3,000 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in Ardelyx by 10.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 50,222 shares of the biopharmaceutical company's stock valued at $255,000 after buying an additional 4,942 shares in the last quarter. Aigen Investment Management LP grew its holdings in Ardelyx by 29.4% in the 3rd quarter. Aigen Investment Management LP now owns 23,510 shares of the biopharmaceutical company's stock valued at $162,000 after buying an additional 5,346 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Ardelyx by 1.9% in the 4th quarter. Rhumbline Advisers now owns 326,124 shares of the biopharmaceutical company's stock worth $1,653,000 after acquiring an additional 6,070 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Ardelyx by 1.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 387,144 shares of the biopharmaceutical company's stock worth $2,667,000 after acquiring an additional 6,093 shares during the period. Hedge funds and other institutional investors own 58.92% of the company's stock.

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Analyst Upgrades and Downgrades

Several research firms recently issued reports on ARDX. 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. Piper Sandler lifted their price target on shares of Ardelyx from $7.00 to $8.00 and gave the company a "neutral" rating in a research report on Monday, January 27th. Citigroup cut their target price on Ardelyx from $12.00 to $10.00 and set a "buy" rating for the company in a research note on Monday, November 4th. Cantor Fitzgerald raised shares of Ardelyx to a "strong-buy" rating in a research report on Thursday, January 30th. Finally, Jefferies Financial Group dropped their price target on shares of Ardelyx from $11.00 to $8.00 and set a "buy" rating for the company in a research report on Thursday, January 2nd. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $9.93.

Ardelyx Stock Down 5.2 %

ARDX stock traded down $0.28 during midday trading on Monday, hitting $5.08. The company's stock had a trading volume of 3,327,763 shares, compared to its average volume of 4,278,458. The firm has a market capitalization of $1.21 billion, a P/E ratio of -31.75 and a beta of 0.85. The company has a quick ratio of 4.31, a current ratio of 4.58 and a debt-to-equity ratio of 0.87. Ardelyx, Inc. has a 52-week low of $4.32 and a 52-week high of $9.83. The firm has a 50-day simple moving average of $5.33 and a 200-day simple moving average of $5.61.

Ardelyx (NASDAQ:ARDX - Get Free Report) last issued its earnings results on Thursday, February 20th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, meeting the consensus estimate of $0.02. The firm had revenue of $116.13 million for the quarter, compared to analysts' expectations of $111.16 million. Ardelyx had a negative net margin of 11.73% and a negative return on equity of 24.87%. As a group, equities analysts forecast that Ardelyx, Inc. will post -0.18 EPS for the current year.

Insider Transactions at Ardelyx

In other Ardelyx news, CEO Michael Raab sold 25,000 shares of the firm's stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $5.26, for a total transaction of $131,500.00. Following the sale, the chief executive officer now owns 1,150,385 shares of the company's stock, valued at approximately $6,051,025.10. This trade represents a 2.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Laura A. Williams sold 4,941 shares of the company's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $5.62, for a total transaction of $27,768.42. Following the completion of the transaction, the insider now owns 303,804 shares of the company's stock, valued at approximately $1,707,378.48. The trade was a 1.60 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 490,029 shares of company stock valued at $2,377,766 and have sold 141,408 shares valued at $761,963. Corporate insiders own 5.90% of the company's stock.

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.