Ardelyx Inc (NASDAQ:ARDX) Stake Lifted by Acadian Asset Management LLC

Acadian Asset Management LLC lifted its position in shares of Ardelyx Inc (NASDAQ:ARDX) by 81.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 100,564 shares of the biopharmaceutical company’s stock after acquiring an additional 45,280 shares during the quarter. Acadian Asset Management LLC’s holdings in Ardelyx were worth $282,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Pekin Singer Strauss Asset Management IL increased its stake in shares of Ardelyx by 164.3% during the fourth quarter. Pekin Singer Strauss Asset Management IL now owns 2,639,952 shares of the biopharmaceutical company’s stock worth $4,726,000 after acquiring an additional 1,641,037 shares during the period. Vanguard Group Inc. boosted its holdings in Ardelyx by 3.1% during the third quarter. Vanguard Group Inc. now owns 1,984,621 shares of the biopharmaceutical company’s stock worth $8,633,000 after buying an additional 60,171 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Ardelyx by 4.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,644,481 shares of the biopharmaceutical company’s stock worth $2,944,000 after buying an additional 73,030 shares in the last quarter. 683 Capital Management LLC boosted its holdings in Ardelyx by 39.6% during the fourth quarter. 683 Capital Management LLC now owns 907,114 shares of the biopharmaceutical company’s stock worth $1,624,000 after buying an additional 257,114 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Ardelyx by 7.0% during the fourth quarter. Geode Capital Management LLC now owns 680,329 shares of the biopharmaceutical company’s stock worth $1,217,000 after buying an additional 44,444 shares in the last quarter. Institutional investors and hedge funds own 73.54% of the company’s stock.

In related news, CEO Michael Raab sold 10,054 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $2.54, for a total transaction of $25,537.16. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last three months, insiders have sold 18,787 shares of company stock worth $47,753. 15.31% of the stock is owned by insiders.

A number of analysts recently commented on the stock. Piper Jaffray Companies assumed coverage on shares of Ardelyx in a report on Monday, April 8th. They set an “overweight” rating and a $15.00 price objective on the stock. Zacks Investment Research downgraded shares of Ardelyx from a “buy” rating to a “hold” rating in a report on Wednesday, March 20th. Finally, ValuEngine downgraded shares of Ardelyx from a “hold” rating to a “sell” rating in a report on Monday, May 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $8.81.

ARDX stock opened at $2.66 on Friday. The stock has a market cap of $171.52 million, a P/E ratio of -1.64 and a beta of 2.01. Ardelyx Inc has a 52 week low of $1.60 and a 52 week high of $4.70. The company has a current ratio of 7.41, a quick ratio of 7.41 and a debt-to-equity ratio of 0.58.

Ardelyx (NASDAQ:ARDX) last released its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.03). On average, equities analysts predict that Ardelyx Inc will post -1.52 earnings per share for the current year.

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Ardelyx Company Profile

Ardelyx, Inc, a specialized biopharmaceutical company, develops and sells medicines for the treatment of cardio renal diseases in the United States and internationally. 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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