Ardelyx, Inc. (NASDAQ:ARDX) Shares Bought by BNP Paribas Financial Markets

BNP Paribas Financial Markets increased its holdings in Ardelyx, Inc. (NASDAQ:ARDX) by 274.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 181,387 shares of the biopharmaceutical company’s stock after buying an additional 132,928 shares during the period. BNP Paribas Financial Markets’ holdings in Ardelyx were worth $1,250,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of ARDX. Propel Bio Management LLC lifted its holdings in Ardelyx by 15.8% in the third quarter. Propel Bio Management LLC now owns 1,070,947 shares of the biopharmaceutical company’s stock worth $7,379,000 after acquiring an additional 146,364 shares during the last quarter. Pekin Hardy Strauss Inc. raised its position in shares of Ardelyx by 2.8% during the 3rd quarter. Pekin Hardy Strauss Inc. now owns 546,410 shares of the biopharmaceutical company’s stock worth $3,765,000 after purchasing an additional 14,750 shares during the period. Alpha DNA Investment Management LLC lifted its holdings in shares of Ardelyx by 20.5% in the 3rd quarter. Alpha DNA Investment Management LLC now owns 74,137 shares of the biopharmaceutical company’s stock worth $511,000 after purchasing an additional 12,601 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Ardelyx by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,938,778 shares of the biopharmaceutical company’s stock valued at $13,358,000 after purchasing an additional 40,702 shares during the period. Finally, Intech Investment Management LLC bought a new position in Ardelyx during the 3rd quarter worth $423,000. Institutional investors own 58.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ARDX. HC Wainwright downgraded shares of Ardelyx from a “buy” rating to a “neutral” rating and reduced their price target for the company from $11.00 to $5.50 in a report on Monday, November 11th. Citigroup cut their price objective on shares of Ardelyx from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $10.42.

Insider Activity at Ardelyx

In other news, CEO Michael Raab sold 25,000 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $5.38, for a total transaction of $134,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,150,385 shares of the company’s stock, valued at $6,189,071.30. This represents a 2.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Laura A. Williams sold 7,366 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $4.79, for a total transaction of $35,283.14. Following the sale, the insider now owns 308,745 shares in the company, valued at $1,478,888.55. This represents a 2.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 252,068 shares of company stock worth $1,472,641 in the last 90 days. Corporate insiders own 5.90% of the company’s stock.

Ardelyx Price Performance

Shares of ARDX opened at $5.27 on Tuesday. Ardelyx, Inc. has a one year low of $4.34 and a one year high of $10.13. The stock’s fifty day moving average is $5.69 and its 200-day moving average is $5.94. 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 has a market capitalization of $1.25 billion, a price-to-earnings ratio of -17.57 and a beta of 0.83.

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.