Ardelyx, Inc. (NASDAQ:ARDX) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC trimmed its stake in shares of Ardelyx, Inc. (NASDAQ:ARDX) by 49.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 104,216 shares of the biopharmaceutical company’s stock after selling 103,736 shares during the period. SG Americas Securities LLC’s holdings in Ardelyx were worth $646,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. FMR LLC lifted its position in shares of Ardelyx by 235.9% during the 1st quarter. FMR LLC now owns 5,733 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 4,026 shares during the period. HighTower Advisors LLC acquired a new stake in shares of Ardelyx during the 4th quarter valued at approximately $35,000. Willis Johnson & Associates Inc. acquired a new stake in shares of Ardelyx during the 3rd quarter valued at approximately $41,000. Redwood Wealth Management Group LLC acquired a new stake in shares of Ardelyx during the 3rd quarter valued at approximately $43,000. Finally, Great West Life Assurance Co. Can acquired a new stake in shares of Ardelyx during the 1st quarter valued at approximately $44,000. 58.92% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Ardelyx news, insider David P. Rosenbaum sold 30,000 shares of the firm’s stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $6.64, for a total value of $199,200.00. Following the transaction, the insider now owns 286,596 shares of the company’s stock, valued at $1,902,997.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Ardelyx news, insider Elizabeth A. Grammer sold 86,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $7.73, for a total value of $664,780.00. Following the sale, the insider now owns 312,993 shares in the company, valued at $2,419,435.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David P. Rosenbaum sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $6.64, for a total transaction of $199,200.00. Following the transaction, the insider now owns 286,596 shares in the company, valued at approximately $1,902,997.44. The disclosure for this sale can be found here. Insiders have sold 171,320 shares of company stock valued at $1,354,774 over the last quarter. Insiders own 5.50% of the company’s stock.

Ardelyx Stock Performance

Shares of ARDX stock opened at $7.35 on Thursday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 4.64 and a current ratio of 4.88. Ardelyx, Inc. has a one year low of $3.16 and a one year high of $10.13. The company’s 50-day simple moving average is $8.64 and its 200-day simple moving average is $6.35. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of -24.50 and a beta of 0.85.

Ardelyx (NASDAQ:ARDX) last issued its quarterly earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.03). Ardelyx had a negative return on equity of 43.57% and a negative net margin of 53.08%. The company had revenue of $34.36 million for the quarter, compared to the consensus estimate of $34.26 million. During the same period in the previous year, the business posted $0.06 EPS. The business’s revenue for the quarter was down 22.2% on a year-over-year basis. Equities analysts anticipate that Ardelyx, Inc. will post -0.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ARDX shares. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Ardelyx in a research note on Friday, January 12th. StockNews.com downgraded Ardelyx from a “hold” rating to a “sell” rating in a report on Monday, February 26th. Piper Sandler upped their price objective on Ardelyx from $12.00 to $15.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Wedbush reiterated an “outperform” rating and issued a $13.00 price target on shares of Ardelyx in a report on Friday, February 23rd. Finally, Raymond James increased their price target on Ardelyx from $12.00 to $15.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.36.

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.