Aigen Investment Management LP Purchases 5,346 Shares of Ardelyx, Inc. (NASDAQ:ARDX)

Aigen Investment Management LP increased its position in Ardelyx, Inc. (NASDAQ:ARDX) by 29.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,510 shares of the biopharmaceutical company’s stock after acquiring an additional 5,346 shares during the period. Aigen Investment Management LP’s holdings in Ardelyx were worth $162,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of ARDX. Redmile Group LLC bought a new stake in Ardelyx during the first quarter valued at about $16,020,000. Millennium Management LLC grew its holdings in Ardelyx by 142.8% during the second quarter. Millennium Management LLC now owns 3,203,090 shares of the biopharmaceutical company’s stock valued at $23,735,000 after purchasing an additional 1,883,995 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Ardelyx by 68.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,913,863 shares of the biopharmaceutical company’s stock valued at $28,572,000 after purchasing an additional 1,584,597 shares during the period. Vanguard Group Inc. grew its holdings in Ardelyx by 2.8% during the first quarter. Vanguard Group Inc. now owns 13,391,855 shares of the biopharmaceutical company’s stock valued at $97,761,000 after purchasing an additional 365,809 shares during the period. Finally, Squarepoint Ops LLC grew its holdings in Ardelyx by 375.9% during the second quarter. Squarepoint Ops LLC now owns 460,689 shares of the biopharmaceutical company’s stock valued at $3,414,000 after purchasing an additional 363,894 shares during the period. Institutional investors own 58.92% of the company’s stock.

Insider Buying and Selling

In other Ardelyx news, CEO Michael Raab sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $5.91, for a total transaction of $147,750.00. Following the sale, the chief executive officer now directly owns 1,210,108 shares in the company, valued at $7,151,738.28. This represents a 2.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider David P. Rosenbaum sold 27,171 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $6.10, for a total value of $165,743.10. Following the sale, the insider now owns 153,616 shares in the company, valued at approximately $937,057.60. This trade represents a 15.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 247,983 shares of company stock worth $1,514,002. Corporate insiders own 5.90% of the company’s stock.

Ardelyx Price Performance

NASDAQ:ARDX opened at $4.97 on Monday. The company has a current ratio of 4.03, a quick ratio of 3.87 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $1.18 billion, a P/E ratio of -16.57 and a beta of 0.92. Ardelyx, Inc. has a 12 month low of $3.83 and a 12 month high of $10.13. The business’s 50-day moving average is $5.93 and its 200 day moving average is $6.24.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. StockNews.com raised Ardelyx from a “sell” rating to a “hold” rating in a research note on Wednesday, July 31st. Citigroup dropped their price objective on 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 Ardelyx from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $11.00 to $5.50 in a research note on Monday, November 11th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $11.00 price objective on shares of Ardelyx in a research note on Friday, August 2nd. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Ardelyx presently has a consensus rating of “Moderate Buy” and an average price target of $10.42.

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.