Y Intercept Hong Kong Ltd Raises Stock Holdings in Ardelyx, Inc. $ARDX

Y Intercept Hong Kong Ltd boosted its holdings in shares of Ardelyx, Inc. (NASDAQ:ARDX) by 488.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 306,547 shares of the biopharmaceutical company’s stock after purchasing an additional 254,417 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Ardelyx were worth $1,689,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in ARDX. DCF Advisers LLC acquired a new stake in shares of Ardelyx during the second quarter worth approximately $39,000. Brighton Jones LLC bought a new position in Ardelyx during the 2nd quarter valued at $40,000. State of Wyoming bought a new position in Ardelyx during the 2nd quarter valued at $61,000. Vontobel Holding Ltd. acquired a new position in Ardelyx during the 3rd quarter worth $63,000. Finally, Osaic Holdings Inc. increased its position in shares of Ardelyx by 28.2% in the 2nd quarter. Osaic Holdings Inc. now owns 16,854 shares of the biopharmaceutical company’s stock worth $66,000 after purchasing an additional 3,709 shares during the last quarter. 58.92% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Laura A. Williams sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $6.98, for a total value of $349,000.00. Following the sale, the insider directly owned 361,563 shares in the company, valued at $2,523,709.74. This trade represents a 12.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mike Kelliher sold 5,560 shares of the business’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $5.54, for a total value of $30,802.40. Following the transaction, the insider owned 271,181 shares of the company’s stock, valued at $1,502,342.74. This trade represents a 2.01% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 114,868 shares of company stock valued at $708,369. 4.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Raymond James Financial reaffirmed a “strong-buy” rating and set a $19.00 price target on shares of Ardelyx in a research report on Thursday, January 8th. BTIG Research reaffirmed a “buy” rating and set a $17.00 target price on shares of Ardelyx in a report on Thursday. Wedbush boosted their price target on Ardelyx from $16.00 to $19.00 and gave the company an “outperform” rating in a report on Wednesday, January 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Ardelyx in a research note on Wednesday, January 21st. Finally, Citigroup lifted their price objective on shares of Ardelyx from $11.00 to $14.00 and gave the stock a “buy” rating in a report on Friday, January 9th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $14.36.

Ardelyx Stock Down 0.1%

ARDX stock opened at $7.85 on Friday. The stock has a market cap of $1.91 billion, a PE ratio of -34.13 and a beta of 0.56. The firm’s 50-day simple moving average is $6.36 and its 200 day simple moving average is $5.81. Ardelyx, Inc. has a fifty-two week low of $3.21 and a fifty-two week high of $8.40. The company has a quick ratio of 4.11, a current ratio of 4.41 and a debt-to-equity ratio of 1.31.

Ardelyx (NASDAQ:ARDX) last posted its earnings results on Thursday, October 30th. The biopharmaceutical company reported $0.00 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.06. The firm had revenue of $110.33 million during the quarter, compared to analysts’ expectations of $100.44 million. Ardelyx had a negative net margin of 14.20% and a negative return on equity of 36.91%. The business’s revenue for the quarter was up 14.6% on a year-over-year basis. As a group, sell-side analysts predict that Ardelyx, Inc. will post -0.18 EPS for the current year.

Ardelyx Company Profile

Ardelyx, Inc (NASDAQ: ARDX) is a clinical?stage biopharmaceutical company focused on discovering, developing and commercializing targeted small molecule drugs for cardio?renal and gastrointestinal diseases. The company’s lead marketed product, tenapanor (sold under the brand name XPHOZAH in the United States), is approved for the treatment of hyperphosphatemia in patients with chronic kidney disease on dialysis. Ardelyx’s proprietary approach targets epithelial transporters in the gastrointestinal tract, offering localized activity with limited systemic exposure.

Beyond tenapanor, Ardelyx’s development pipeline includes treatments designed to address other complications in kidney disease and related metabolic disorders.