Two Seas Capital LP Acquires Shares of 1,855,337 Ardelyx, Inc. (NASDAQ:ARDX)

Two Seas Capital LP bought a new stake in shares of Ardelyx, Inc. (NASDAQ:ARDX - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 1,855,337 shares of the biopharmaceutical company's stock, valued at approximately $9,407,000. Ardelyx comprises approximately 0.8% of Two Seas Capital LP's portfolio, making the stock its 17th largest holding. Two Seas Capital LP owned approximately 0.78% of Ardelyx at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. 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 valued at $72,819,000 after purchasing an additional 767,111 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Ardelyx by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 5,509,730 shares of the biopharmaceutical company's stock valued at $27,941,000 after buying an additional 21,988 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Ardelyx by 5.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,035,135 shares of the biopharmaceutical company's stock worth $10,318,000 after buying an additional 96,357 shares during the period. Rock Springs Capital Management LP bought a new position in Ardelyx during the fourth quarter worth about $7,421,000. Finally, Jones Financial Companies Lllp lifted its holdings in Ardelyx by 67.2% during the fourth quarter. Jones Financial Companies Lllp now owns 1,452,176 shares of the biopharmaceutical company's stock worth $7,363,000 after acquiring an additional 583,550 shares in the last quarter. Institutional investors and hedge funds own 58.92% of the company's stock.

Ardelyx Stock Up 1.7 %

Shares of Ardelyx stock traded up $0.09 during trading hours on Monday, reaching $5.35. 4,929,590 shares of the company's stock were exchanged, compared to its average volume of 4,376,155. The company has a current ratio of 4.58, a quick ratio of 4.31 and a debt-to-equity ratio of 0.87. The company has a 50 day moving average of $5.04 and a two-hundred day moving average of $5.27. The stock has a market cap of $1.28 billion, a P/E ratio of -33.44 and a beta of 0.81. Ardelyx, Inc. has a fifty-two week low of $4.02 and a fifty-two week high of $9.33.

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

Insider Activity at Ardelyx

In other news, insider Laura A. Williams sold 4,941 shares of Ardelyx stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $5.62, for a total value of $27,768.42. Following the completion of the transaction, the insider now owns 303,804 shares of the company's stock, valued at $1,707,378.48. This trade represents a 1.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Justin A. Renz sold 5,171 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $5.62, for a total transaction of $29,061.02. Following the transaction, the chief financial officer now owns 285,968 shares in the company, valued at $1,607,140.16. This represents a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 158,076 shares of company stock valued at $823,804. 5.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on ARDX. HC Wainwright reaffirmed a "neutral" rating and set a $5.50 price target on shares of Ardelyx in a research report on Friday, February 21st. Jefferies Financial Group cut their price target 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. Piper Sandler raised shares of Ardelyx to a "hold" rating in a research report on Wednesday, March 12th. Cantor Fitzgerald upgraded shares of Ardelyx to a "strong-buy" rating in a report on Tuesday, March 4th. Finally, BTIG Research started coverage on shares of Ardelyx in a research note on Tuesday, March 4th. They issued a "buy" rating and a $14.00 target price for the company. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $10.61.

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.