Fox Run Management L.L.C. Purchases 28,324 Shares of Ardelyx, Inc. (NASDAQ:ARDX)

Fox Run Management L.L.C. boosted its position in shares of Ardelyx, Inc. (NASDAQ:ARDX) by 214.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 41,531 shares of the biopharmaceutical company’s stock after acquiring an additional 28,324 shares during the period. Fox Run Management L.L.C.’s holdings in Ardelyx were worth $211,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Ardelyx by 1.5% during the 3rd quarter. State Street Corp now owns 12,141,850 shares of the biopharmaceutical company’s stock worth $83,657,000 after acquiring an additional 176,789 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Ardelyx by 274.3% during the third quarter. BNP Paribas Financial Markets now owns 181,387 shares of the biopharmaceutical company’s stock valued at $1,250,000 after purchasing an additional 132,928 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Ardelyx by 1.6% during the third quarter. JPMorgan Chase & Co. now owns 387,144 shares of the biopharmaceutical company’s stock valued at $2,667,000 after purchasing an additional 6,093 shares during the last quarter. Vestal Point Capital LP purchased a new position in shares of Ardelyx in the 3rd quarter worth $3,445,000. Finally, Barclays PLC increased its holdings in shares of Ardelyx by 24.9% in the 3rd quarter. Barclays PLC now owns 547,325 shares of the biopharmaceutical company’s stock worth $3,770,000 after buying an additional 109,285 shares during the last quarter. 58.92% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Ardelyx news, CEO Michael Raab sold 41,666 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $5.31, for a total transaction of $221,246.46. Following the sale, the chief executive officer now owns 1,129,552 shares of the company’s stock, valued at approximately $5,997,921.12. This trade represents a 3.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David M. Mott purchased 199,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was bought at an average price of $4.99 per share, for a total transaction of $993,010.00. Following the completion of the acquisition, the director now directly owns 1,937,765 shares in the company, valued at approximately $9,669,447.35. This trade represents a 11.44 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 158,076 shares of company stock worth $853,804 in the last three months. Corporate insiders own 5.90% of the company’s stock.

Ardelyx Stock Performance

Ardelyx stock opened at $4.93 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 4.31 and a current ratio of 4.58. The company has a market capitalization of $1.18 billion, a PE ratio of -30.81 and a beta of 0.87. The company has a 50 day moving average price of $5.40 and a 200-day moving average price of $5.52. Ardelyx, Inc. has a fifty-two week low of $4.32 and a fifty-two week high of $9.33.

Ardelyx (NASDAQ:ARDX) last issued its earnings results on Thursday, February 20th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, hitting the consensus estimate of $0.02. The business had revenue of $116.13 million during the quarter, compared to analysts’ expectations of $111.16 million. Ardelyx had a negative return on equity of 24.87% and a negative net margin of 11.73%. As a group, equities analysts forecast that Ardelyx, Inc. will post -0.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ARDX shares. HC Wainwright reaffirmed a “neutral” rating and issued a $5.50 price target on shares of Ardelyx in a report on Friday, February 21st. Scotiabank started coverage on Ardelyx in a report on Friday, March 7th. They issued a “sector outperform” rating and a $15.00 target price for the company. Piper Sandler upgraded Ardelyx to a “hold” rating in a report on Wednesday, March 12th. Jefferies Financial Group dropped their price objective on shares of Ardelyx from $11.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Finally, LADENBURG THALM/SH SH reissued a “buy” rating and issued a $11.00 target price on shares of Ardelyx in a research note on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $10.95.

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.