Ardelyx, Inc. $ARDX Shares Acquired by Two Seas Capital LP

Two Seas Capital LP lifted its holdings in shares of Ardelyx, Inc. (NASDAQ:ARDX) by 14.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,120,337 shares of the biopharmaceutical company’s stock after acquiring an additional 265,000 shares during the quarter. Ardelyx comprises approximately 0.3% of Two Seas Capital LP’s holdings, making the stock its 14th biggest holding. Two Seas Capital LP owned approximately 0.89% of Ardelyx worth $10,411,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. GF Fund Management CO. LTD. purchased a new stake in Ardelyx during the 4th quarter worth $25,000. Cyndeo Wealth Partners LLC bought a new stake in shares of Ardelyx during the 1st quarter valued at about $49,000. Focus Partners Advisor Solutions LLC bought a new stake in shares of Ardelyx during the 1st quarter valued at about $56,000. Crestline Management LP bought a new stake in shares of Ardelyx during the 4th quarter valued at about $64,000. Finally, Merit Financial Group LLC acquired a new position in Ardelyx during the 1st quarter valued at about $75,000. Institutional investors and hedge funds own 58.92% of the company’s stock.

Ardelyx Stock Down 0.8%

ARDX stock opened at $6.52 on Friday. Ardelyx, Inc. has a 12 month low of $3.21 and a 12 month high of $7.18. The firm has a market cap of $1.57 billion, a PE ratio of -28.35 and a beta of 0.74. The firm has a 50 day simple moving average of $5.12 and a 200 day simple moving average of $4.70. The company has a debt-to-equity ratio of 1.44, a current ratio of 4.30 and a quick ratio of 4.03.

Ardelyx (NASDAQ:ARDX) last released its earnings results on Monday, August 4th. The biopharmaceutical company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.05. Ardelyx had a negative net margin of 14.60% and a negative return on equity of 36.57%. The business had revenue of $97.66 million during the quarter, compared to analyst estimates of $82.69 million. During the same period in the prior year, the business earned ($0.07) earnings per share. The business’s quarterly revenue was up 23.0% on a year-over-year basis. Equities research analysts forecast that Ardelyx, Inc. will post -0.18 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. UBS Group set a $12.00 target price on shares of Ardelyx in a research note on Tuesday, August 5th. Wall Street Zen raised shares of Ardelyx from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Piper Sandler upped their price target on shares of Ardelyx from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 6th. Raymond James Financial initiated coverage on shares of Ardelyx in a research note on Wednesday. They issued a “strong-buy” rating and a $14.00 price target for the company. Finally, Wedbush reaffirmed an “outperform” rating and issued a $14.00 price target (up from $13.00) on shares of Ardelyx in a research note on Tuesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Ardelyx presently has a consensus rating of “Buy” and an average target price of $11.70.

Insider Buying and Selling at Ardelyx

In related news, insider Laura A. Williams sold 80,000 shares of the stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $6.12, for a total transaction of $489,600.00. Following the completion of the sale, the insider directly owned 366,322 shares of the company’s stock, valued at $2,241,890.64. This represents a 17.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Raab sold 45,687 shares of the stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $5.93, for a total transaction of $270,923.91. Following the sale, the chief executive officer directly owned 1,502,250 shares of the company’s stock, valued at approximately $8,908,342.50. This represents a 2.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 165,551 shares of company stock valued at $996,917. Corporate insiders own 4.80% of the company’s stock.

About Ardelyx

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.