Ardelyx, Inc. (NASDAQ:ARDX) Shares Bought by EntryPoint Capital LLC

EntryPoint Capital LLC lifted its holdings in shares of Ardelyx, Inc. (NASDAQ:ARDX) by 103.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 33,323 shares of the biopharmaceutical company’s stock after purchasing an additional 16,924 shares during the quarter. EntryPoint Capital LLC’s holdings in Ardelyx were worth $169,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. B. Riley Wealth Advisors Inc. lifted its holdings in Ardelyx by 3.4% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 90,000 shares of the biopharmaceutical company’s stock worth $599,000 after buying an additional 3,000 shares in the last quarter. Swiss National Bank increased its position in shares of Ardelyx by 1.0% during the fourth quarter. Swiss National Bank now owns 463,100 shares of the biopharmaceutical company’s stock worth $2,348,000 after acquiring an additional 4,800 shares during the period. China Universal Asset Management Co. Ltd. raised its stake in shares of Ardelyx by 10.9% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 50,222 shares of the biopharmaceutical company’s stock valued at $255,000 after acquiring an additional 4,942 shares in the last quarter. Rhumbline Advisers boosted its holdings in Ardelyx by 1.9% in the fourth quarter. Rhumbline Advisers now owns 326,124 shares of the biopharmaceutical company’s stock valued at $1,653,000 after purchasing an additional 6,070 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in Ardelyx by 1.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 387,144 shares of the biopharmaceutical company’s stock worth $2,667,000 after purchasing an additional 6,093 shares during the period. Hedge funds and other institutional investors own 58.92% of the company’s stock.

Ardelyx Price Performance

Shares of NASDAQ ARDX opened at $4.93 on Friday. 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 stock has a market cap of $1.18 billion, a P/E ratio of -30.81 and a beta of 0.87. The stock has a 50 day moving average of $5.40 and a two-hundred day moving average of $5.52. Ardelyx, Inc. has a twelve month low of $4.32 and a twelve month high of $9.33.

Ardelyx (NASDAQ:ARDX) last issued its quarterly earnings results on Thursday, February 20th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.02. Ardelyx had a negative net margin of 11.73% and a negative return on equity of 24.87%. The firm had revenue of $116.13 million during the quarter, compared to analysts’ expectations of $111.16 million. On average, research analysts forecast that Ardelyx, Inc. will post -0.18 earnings per share for the current year.

Analysts Set New Price Targets

ARDX has been the subject of several recent research reports. Cantor Fitzgerald upgraded Ardelyx to a “strong-buy” rating in a research note on Tuesday, March 4th. Piper Sandler upgraded shares of Ardelyx to a “hold” rating in a report on Wednesday, March 12th. Jefferies Financial Group reduced their price objective on shares of Ardelyx from $11.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Scotiabank started coverage on shares of Ardelyx in a research note on Friday, March 7th. They set a “sector outperform” rating and a $15.00 target price for the company. Finally, Raymond James restated a “strong-buy” rating and issued a $13.00 price target (down from $15.00) on shares of Ardelyx in a research note on Friday, February 21st. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $10.95.

Insider Transactions at Ardelyx

In other Ardelyx news, CEO Michael Raab sold 41,666 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $5.31, for a total transaction of $221,246.46. Following the completion of the sale, the chief executive officer now directly owns 1,129,552 shares of the company’s stock, valued at $5,997,921.12. This represents a 3.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Laura A. Williams sold 4,941 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $5.62, for a total value of $27,768.42. Following the sale, the insider now directly owns 303,804 shares of the company’s stock, valued at $1,707,378.48. The trade was a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 158,076 shares of company stock worth $853,804. Company insiders own 5.90% of the company’s stock.

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.