Barclays PLC Has $3.77 Million Stake in Ardelyx, Inc. (NASDAQ:ARDX)

Barclays PLC raised its stake in shares of Ardelyx, Inc. (NASDAQ:ARDX) by 24.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 547,325 shares of the biopharmaceutical company’s stock after acquiring an additional 109,285 shares during the quarter. Barclays PLC’s holdings in Ardelyx were worth $3,770,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. State Street Corp increased its stake in Ardelyx by 1.5% during the third quarter. State Street Corp now owns 12,141,850 shares of the biopharmaceutical company’s stock valued at $83,657,000 after acquiring an additional 176,789 shares during the period. Parallax Volatility Advisers L.P. acquired a new stake in shares of Ardelyx during the 3rd quarter worth approximately $506,000. Eventide Asset Management LLC increased its position in shares of Ardelyx by 11.2% during the third quarter. Eventide Asset Management LLC now owns 7,413,049 shares of the biopharmaceutical company’s stock valued at $51,076,000 after purchasing an additional 746,067 shares during the period. Vestal Point Capital LP acquired a new position in shares of Ardelyx in the third quarter valued at $3,445,000. Finally, Rubric Capital Management LP lifted its position in Ardelyx by 68.5% in the third quarter. Rubric Capital Management LP now owns 3,060,191 shares of the biopharmaceutical company’s stock worth $21,085,000 after purchasing an additional 1,243,606 shares during the period. Institutional investors and hedge funds own 58.92% of the company’s stock.

Insiders Place Their Bets

In other Ardelyx news, CFO Justin A. Renz sold 5,260 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $4.79, for a total value of $25,195.40. Following the transaction, the chief financial officer now owns 291,139 shares of the company’s stock, valued at approximately $1,394,555.81. The trade was a 1.77 % 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 hyperlink. Also, CEO Michael Raab sold 7,500 shares of the firm’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $6.01, for a total value of $45,075.00. Following the completion of the sale, the chief executive officer now owns 1,210,108 shares of the company’s stock, valued at approximately $7,272,749.08. This trade represents a 0.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 236,756 shares of company stock valued at $1,374,538. 5.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on ARDX shares. Citigroup dropped their price objective on shares of Ardelyx from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, November 4th. HC Wainwright lowered shares of Ardelyx from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $11.00 to $5.50 in a research report on Monday, November 11th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Ardelyx has an average rating of “Moderate Buy” and an average price target of $10.42.

Ardelyx Stock Up 2.8 %

ARDX opened at $4.82 on Monday. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of -16.07 and a beta of 0.83. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.87 and a current ratio of 4.03. The firm’s 50-day simple moving average is $5.45 and its 200-day simple moving average is $5.83. Ardelyx, Inc. has a twelve month low of $4.32 and a twelve month high of $10.13.

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.