Dynamic Technology Lab Private Ltd Makes New $673,000 Investment in Ardelyx, Inc. $ARDX

Dynamic Technology Lab Private Ltd bought a new stake in Ardelyx, Inc. (NASDAQ:ARDX) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 137,123 shares of the biopharmaceutical company’s stock, valued at approximately $673,000.

Several other large investors also recently made changes to their positions in the company. Ensign Peak Advisors Inc grew its stake in shares of Ardelyx by 3.1% in the 4th quarter. Ensign Peak Advisors Inc now owns 73,950 shares of the biopharmaceutical company’s stock valued at $375,000 after buying an additional 2,200 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Ardelyx by 2.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 154,625 shares of the biopharmaceutical company’s stock valued at $788,000 after buying an additional 3,550 shares during the period. GF Fund Management CO. LTD. acquired a new stake in shares of Ardelyx in the 4th quarter valued at about $25,000. GAMMA Investing LLC grew its stake in shares of Ardelyx by 1,342.0% in the 1st quarter. GAMMA Investing LLC now owns 5,912 shares of the biopharmaceutical company’s stock valued at $290,000 after buying an additional 5,502 shares during the period. Finally, Palisades Investment Partners LLC grew its stake in shares of Ardelyx by 1.1% in the 1st quarter. Palisades Investment Partners LLC now owns 523,345 shares of the biopharmaceutical company’s stock valued at $2,569,000 after buying an additional 5,564 shares during the period. 58.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director David M. Mott bought 200,000 shares of the company’s stock in a transaction on Monday, June 16th. The shares were purchased at an average price of $3.63 per share, with a total value of $726,000.00. Following the transaction, the director directly owned 2,896,871 shares in the company, valued at $10,515,641.73. This represents a 7.42% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Justin A. Renz sold 7,037 shares of Ardelyx stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $5.93, for a total transaction of $41,729.41. Following the transaction, the chief financial officer directly owned 409,052 shares in the company, valued at approximately $2,425,678.36. This represents a 1.69% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 165,551 shares of company stock worth $996,917. Corporate insiders own 4.80% of the company’s stock.

Ardelyx Price Performance

Shares of NASDAQ ARDX opened at $6.56 on Wednesday. Ardelyx, Inc. has a fifty-two week low of $3.21 and a fifty-two week high of $7.18. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of -28.52 and a beta of 0.74. The company has a debt-to-equity ratio of 1.44, a quick ratio of 4.03 and a current ratio of 4.30. The firm’s 50-day simple moving average is $5.23 and its 200 day simple moving average is $4.72.

Ardelyx (NASDAQ:ARDX) last announced its quarterly earnings results on Monday, August 4th. The biopharmaceutical company reported ($0.08) earnings per share 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 for the quarter, compared to analysts’ expectations of $82.69 million. During the same quarter last year, the firm earned ($0.07) EPS. The firm’s revenue for the quarter was up 23.0% compared to the same quarter last year. As a group, research analysts anticipate that Ardelyx, Inc. will post -0.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ARDX has been the subject of several research reports. Wedbush restated an “outperform” rating and issued a $14.00 target price (up from $13.00) on shares of Ardelyx in a research note on Tuesday, August 5th. Wall Street Zen upgraded Ardelyx from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. HC Wainwright began coverage on Ardelyx in a research note on Wednesday, June 18th. They issued a “buy” rating and a $10.00 target price for the company. Raymond James Financial began coverage on shares of Ardelyx in a research report on Wednesday, September 3rd. They issued a “strong-buy” rating and a $14.00 price target on the stock. Finally, Piper Sandler raised their price target on shares of Ardelyx from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Wednesday, August 6th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $11.70.

Ardelyx 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.