Hussman Strategic Advisors Inc. decreased its holdings in shares of Ardelyx, Inc. (NASDAQ:ARDX - Free Report) by 41.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 210,000 shares of the biopharmaceutical company's stock after selling 147,000 shares during the period. Hussman Strategic Advisors Inc. owned approximately 0.09% of Ardelyx worth $1,065,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. acquired a new position in Ardelyx during the 4th quarter worth approximately $35,000. CWM LLC increased its position in Ardelyx by 328.1% during the 3rd quarter. CWM LLC now owns 12,814 shares of the biopharmaceutical company's stock worth $88,000 after purchasing an additional 9,821 shares during the period. KBC Group NV boosted its stake in shares of Ardelyx by 101.8% during the 4th quarter. KBC Group NV now owns 13,706 shares of the biopharmaceutical company's stock worth $69,000 after acquiring an additional 6,915 shares in the last quarter. Bleakley Financial Group LLC purchased a new stake in shares of Ardelyx during the 4th quarter worth approximately $98,000. Finally, Aigen Investment Management LP boosted its stake in shares of Ardelyx by 29.4% during the 3rd quarter. Aigen Investment Management LP now owns 23,510 shares of the biopharmaceutical company's stock worth $162,000 after acquiring an additional 5,346 shares in the last quarter. Institutional investors and hedge funds own 58.92% of the company's stock.
Several brokerages have recently commented on ARDX. Piper Sandler boosted their price target on Ardelyx from $7.00 to $8.00 and gave the stock a "neutral" rating in a research note on Monday, January 27th. HC Wainwright reissued a "neutral" rating and set a $5.50 price target on shares of Ardelyx in a research note on Friday. Citigroup decreased their price target on Ardelyx from $12.00 to $10.00 and set a "buy" rating on the stock in a research note on Monday, November 4th. Jefferies Financial Group decreased their price target on Ardelyx from $11.00 to $8.00 and set a "buy" rating on the stock in a research note on Thursday, January 2nd. Finally, Cantor Fitzgerald raised Ardelyx to a "strong-buy" rating in a research note on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Ardelyx presently has an average rating of "Moderate Buy" and a consensus price target of $9.93.
View Our Latest Report on Ardelyx
ARDX stock traded down $0.67 on Friday, reaching $5.06. The company had a trading volume of 6,744,975 shares, compared to its average volume of 3,298,890. Ardelyx, Inc. has a 1 year low of $4.32 and a 1 year high of $9.83. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.87 and a current ratio of 4.03. The company's fifty day moving average is $5.30 and its 200 day moving average is $5.63. The company has a market cap of $1.20 billion, a P/E ratio of -31.59 and a beta of 0.85.
Ardelyx (NASDAQ:ARDX - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, meeting the consensus estimate of $0.02. The company had revenue of $116.13 million during the quarter, compared to the consensus estimate of $111.16 million. Ardelyx had a negative return on equity of 25.74% and a negative net margin of 11.73%. On average, research analysts forecast that Ardelyx, Inc. will post -0.18 earnings per share for the current year.
In other news, CEO Michael Raab sold 25,000 shares of the company's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $5.38, for a total transaction of $134,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,150,385 shares in the company, valued at $6,189,071.30. This represents a 2.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Justin A. Renz sold 5,171 shares of the company's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $5.62, for a total value of $29,061.02. Following the sale, the chief financial officer now owns 285,968 shares of the company's stock, valued at approximately $1,607,140.16. The trade was a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 166,408 shares of company stock worth $896,463. Insiders own 5.90% of the company's stock.
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.
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