Ardelyx, Inc. (NASDAQ:ARDX) Shares Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas grew its stake in shares of Ardelyx, Inc. (NASDAQ:ARDX) by 19.1% in the 4th quarter, HoldingsChannel reports. The firm owned 69,867 shares of the biopharmaceutical company’s stock after acquiring an additional 11,191 shares during the quarter. Teacher Retirement System of Texas’ holdings in Ardelyx were worth $354,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. B. Riley Wealth Advisors Inc. lifted its stake in Ardelyx by 3.4% during the third quarter. B. Riley Wealth Advisors Inc. now owns 90,000 shares of the biopharmaceutical company’s stock valued at $599,000 after buying an additional 3,000 shares in the last quarter. Swiss National Bank lifted its position in shares of Ardelyx by 1.0% in the 4th quarter. Swiss National Bank now owns 463,100 shares of the biopharmaceutical company’s stock valued at $2,348,000 after acquiring an additional 4,800 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake 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 worth $255,000 after purchasing an additional 4,942 shares during the period. Rhumbline Advisers grew its position in Ardelyx by 1.9% during the 4th quarter. Rhumbline Advisers now owns 326,124 shares of the biopharmaceutical company’s stock worth $1,653,000 after purchasing an additional 6,070 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Ardelyx by 1.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 387,144 shares of the biopharmaceutical company’s stock valued at $2,667,000 after purchasing an additional 6,093 shares during the period. Institutional investors and hedge funds own 58.92% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Jefferies Financial Group lowered their price target on Ardelyx from $11.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Piper Sandler upgraded Ardelyx to a “hold” rating in a report on Wednesday, March 12th. BTIG Research started coverage on shares of Ardelyx in a report on Tuesday, March 4th. They set a “buy” rating and a $14.00 price target for the company. Cantor Fitzgerald raised shares of Ardelyx to a “strong-buy” rating in a research report on Tuesday, March 4th. Finally, Raymond James reiterated a “strong-buy” rating and issued a $13.00 target price (down previously from $15.00) on shares of Ardelyx in a research report on Friday, February 21st. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Ardelyx has a consensus rating of “Moderate Buy” and a consensus price target of $10.95.

Insider Activity at Ardelyx

In other news, CEO Michael Raab sold 41,666 shares of Ardelyx stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $5.31, for a total value of $221,246.46. Following the transaction, the chief executive officer now owns 1,129,552 shares of the company’s stock, valued at $5,997,921.12. This trade represents a 3.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David M. Mott acquired 199,000 shares of Ardelyx stock in a transaction dated Tuesday, January 21st. The stock was purchased at an average price of $4.99 per share, with a total value of $993,010.00. Following the completion of the purchase, the director now directly owns 1,937,765 shares of the company’s stock, valued at $9,669,447.35. The trade was a 11.44 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 158,076 shares of company stock valued at $853,804. Corporate insiders own 5.90% of the company’s stock.

Ardelyx Stock Down 0.4 %

ARDX stock opened at $4.91 on Tuesday. The firm has a market cap of $1.17 billion, a PE ratio of -30.69 and a beta of 0.87. Ardelyx, Inc. has a 1 year low of $4.32 and a 1 year high of $9.33. The company has a fifty day simple moving average of $5.40 and a 200 day simple moving average of $5.51. The company has a current ratio of 4.58, a quick ratio of 4.31 and a debt-to-equity ratio of 0.87.

Ardelyx (NASDAQ:ARDX) last posted 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 company had revenue of $116.13 million for the quarter, compared to analyst estimates of $111.16 million. Ardelyx had a negative return on equity of 24.87% and a negative net margin of 11.73%. Sell-side analysts anticipate that Ardelyx, Inc. will post -0.18 EPS for the current fiscal year.

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.