Ardelyx, Inc. (NASDAQ:ARDX) Shares Sold by Profund Advisors LLC

Profund Advisors LLC cut its holdings in shares of Ardelyx, Inc. (NASDAQ:ARDX) by 28.0% during the second quarter, HoldingsChannel.com reports. The fund owned 118,753 shares of the biopharmaceutical company’s stock after selling 46,105 shares during the period. Profund Advisors LLC’s holdings in Ardelyx were worth $880,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Rubric Capital Management LP boosted its holdings in shares of Ardelyx by 60.5% during the 4th quarter. Rubric Capital Management LP now owns 4,012,753 shares of the biopharmaceutical company’s stock worth $24,879,000 after purchasing an additional 1,512,753 shares during the last quarter. Vanguard Group Inc. boosted its stake in Ardelyx by 2.8% during the first quarter. Vanguard Group Inc. now owns 13,391,855 shares of the biopharmaceutical company’s stock worth $97,761,000 after buying an additional 365,809 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in Ardelyx by 37.2% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 438,827 shares of the biopharmaceutical company’s stock valued at $3,203,000 after buying an additional 118,879 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Ardelyx by 9.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,816,732 shares of the biopharmaceutical company’s stock worth $11,264,000 after acquiring an additional 150,465 shares during the last quarter. Finally, Clay Northam Wealth Management LLC raised its holdings in shares of Ardelyx by 154.7% during the 2nd quarter. Clay Northam Wealth Management LLC now owns 232,377 shares of the biopharmaceutical company’s stock worth $1,722,000 after acquiring an additional 141,145 shares during the period. Hedge funds and other institutional investors own 58.92% of the company’s stock.

Insider Buying and Selling

In other Ardelyx news, CEO Michael Raab sold 7,500 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $5.97, for a total value of $44,775.00. Following the sale, the chief executive officer now directly owns 1,260,463 shares of the company’s stock, valued at approximately $7,524,964.11. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider David P. Rosenbaum sold 5,312 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $6.26, for a total value of $33,253.12. Following the completion of the transaction, the insider now directly owns 153,616 shares of the company’s stock, valued at $961,636.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Raab sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $5.97, for a total transaction of $44,775.00. Following the sale, the chief executive officer now directly owns 1,260,463 shares in the company, valued at approximately $7,524,964.11. The disclosure for this sale can be found here. Insiders sold 166,872 shares of company stock worth $974,143 over the last 90 days. 5.50% of the stock is owned by insiders.

Ardelyx Stock Up 0.2 %

Shares of NASDAQ ARDX opened at $5.93 on Wednesday. The stock has a market cap of $1.38 billion, a P/E ratio of -21.18 and a beta of 0.90. The business’s fifty day simple moving average is $5.88 and its 200-day simple moving average is $6.60. Ardelyx, Inc. has a 12-month low of $3.16 and a 12-month high of $10.13. The company has a current ratio of 4.21, a quick ratio of 3.99 and a debt-to-equity ratio of 0.68.

Ardelyx (NASDAQ:ARDX) last posted its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.04. Ardelyx had a negative return on equity of 39.73% and a negative net margin of 31.02%. The company had revenue of $73.20 million for the quarter, compared to analyst estimates of $55.03 million. During the same quarter last year, the company earned ($0.08) EPS. Ardelyx’s revenue for the quarter was up 228.3% compared to the same quarter last year. As a group, equities analysts predict that Ardelyx, Inc. will post -0.26 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. StockNews.com upgraded shares of Ardelyx from a “sell” rating to a “hold” rating in a research report on Wednesday, July 31st. HC Wainwright lifted their price target on shares of Ardelyx from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Ardelyx in a research report on Thursday, June 20th. Citigroup lifted their target price on Ardelyx from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, Wedbush restated an “outperform” rating and issued a $11.00 price objective on shares of Ardelyx in a report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Ardelyx has an average rating of “Moderate Buy” and a consensus target price of $11.67.

About Ardelyx

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.