Ardelyx Inc (NASDAQ:ARDX) Stake Lowered by UBS Oconnor LLC

UBS Oconnor LLC decreased its position in shares of Ardelyx Inc (NASDAQ:ARDX) by 4.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 258,105 shares of the biopharmaceutical company’s stock after selling 12,000 shares during the quarter. UBS Oconnor LLC owned 0.42% of Ardelyx worth $462,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ARDX. Virtu Financial LLC bought a new position in Ardelyx in the 4th quarter valued at approximately $27,000. SG Americas Securities LLC bought a new position in Ardelyx in the 4th quarter valued at approximately $49,000. Paloma Partners Management Co bought a new position in Ardelyx in the 4th quarter valued at approximately $66,000. Acadian Asset Management LLC increased its position in Ardelyx by 186.4% during the 4th quarter. Acadian Asset Management LLC now owns 55,284 shares of the biopharmaceutical company’s stock valued at $99,000 after purchasing an additional 35,982 shares during the period. Finally, Rhumbline Advisers increased its position in Ardelyx by 61.6% during the 4th quarter. Rhumbline Advisers now owns 59,522 shares of the biopharmaceutical company’s stock valued at $107,000 after purchasing an additional 22,686 shares during the period. 75.12% of the stock is owned by institutional investors and hedge funds.

A number of research firms have weighed in on ARDX. Piper Jaffray Companies began coverage on shares of Ardelyx in a research report on Monday, April 8th. They set an “overweight” rating and a $15.00 target price for the company. Zacks Investment Research downgraded shares of Ardelyx from a “buy” rating to a “hold” rating in a research report on Wednesday, March 20th. Finally, ValuEngine raised shares of Ardelyx from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $8.81.

NASDAQ:ARDX traded down $0.19 on Monday, reaching $3.54. 208,700 shares of the stock traded hands, compared to its average volume of 216,740. The company has a market capitalization of $221.60 million, a PE ratio of -2.19 and a beta of 1.87. Ardelyx Inc has a 1-year low of $1.60 and a 1-year high of $5.90. The company has a debt-to-equity ratio of 0.42, a quick ratio of 9.95 and a current ratio of 9.95.

Ardelyx (NASDAQ:ARDX) last announced its quarterly earnings data on Wednesday, March 6th. The biopharmaceutical company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.04). The firm had revenue of $0.09 million for the quarter, compared to the consensus estimate of $0.18 million. Research analysts predict that Ardelyx Inc will post -1.46 EPS for the current year.

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Ardelyx Company Profile

Ardelyx, Inc, a specialized biopharmaceutical company, develops and sells disruptive medicines for the treatment of cardio renal and gastrointestinal diseases in the United States and Asia Pacific. The company's lead product candidate is tenapanor, which has completed Phase III clinical trial for the treatment of patients with irritable bowel syndrome with constipation, as well as in Phase III clinical trial for the treatment of hyperphosphatemia in end-stage renal disease patients on dialysis.

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Institutional Ownership by Quarter for Ardelyx (NASDAQ:ARDX)

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