UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $3 Million Stock Position in Ardelyx, Inc. (NASDAQ:ARDX)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its holdings in shares of Ardelyx, Inc. (NASDAQ:ARDX) by 9.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 435,962 shares of the biopharmaceutical company’s stock after selling 43,444 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.18% of Ardelyx worth $3,004,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ARDX. Rubric Capital Management LP lifted its holdings in shares of Ardelyx by 68.5% during the 3rd quarter. Rubric Capital Management LP now owns 3,060,191 shares of the biopharmaceutical company’s stock valued at $21,085,000 after purchasing an additional 1,243,606 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Ardelyx by 274.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 181,387 shares of the biopharmaceutical company’s stock worth $1,250,000 after buying an additional 132,928 shares during the period. Propel Bio Management LLC raised its holdings in Ardelyx by 15.8% during the 3rd quarter. Propel Bio Management LLC now owns 1,070,947 shares of the biopharmaceutical company’s stock worth $7,379,000 after buying an additional 146,364 shares during the period. Pekin Hardy Strauss Inc. lifted its stake in Ardelyx by 2.8% in the third quarter. Pekin Hardy Strauss Inc. now owns 546,410 shares of the biopharmaceutical company’s stock valued at $3,765,000 after buying an additional 14,750 shares in the last quarter. Finally, Alpha DNA Investment Management LLC boosted its holdings in shares of Ardelyx by 20.5% in the third quarter. Alpha DNA Investment Management LLC now owns 74,137 shares of the biopharmaceutical company’s stock valued at $511,000 after buying an additional 12,601 shares during the period. 58.92% of the stock is currently owned by institutional investors.

Ardelyx Stock Performance

Shares of Ardelyx stock opened at $5.22 on Friday. The company’s 50 day moving average price is $5.60 and its two-hundred day moving average price is $5.92. The firm has a market capitalization of $1.24 billion, a P/E ratio of -17.63 and a beta of 0.83. The company has a debt-to-equity ratio of 0.64, a current ratio of 4.03 and a quick ratio of 3.87. Ardelyx, Inc. has a fifty-two week low of $4.34 and a fifty-two week high of $10.13.

Insider Activity at Ardelyx

In other news, insider Laura A. Williams sold 7,366 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $4.79, for a total transaction of $35,283.14. Following the transaction, the insider now owns 308,745 shares in the company, valued at approximately $1,478,888.55. This represents a 2.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider David P. Rosenbaum sold 49,564 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $6.92, for a total value of $342,982.88. Following the completion of the transaction, the insider now owns 301,946 shares in the company, valued at approximately $2,089,466.32. The trade was a 14.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 236,756 shares of company stock worth $1,374,538 over the last three months. Company insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. HC Wainwright downgraded Ardelyx from a “buy” rating to a “neutral” rating and dropped their price target for the company from $11.00 to $5.50 in a research note on Monday, November 11th. Citigroup decreased their price objective on Ardelyx from $12.00 to $10.00 and set a “buy” rating for the company in a report on Monday, November 4th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $10.42.

Ardelyx Company 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.