Ardelyx, Inc. (NASDAQ:ARDX) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lowered its holdings in Ardelyx, Inc. (NASDAQ:ARDX) by 57.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,704 shares of the biopharmaceutical company’s stock after selling 52,968 shares during the period. SG Americas Securities LLC’s holdings in Ardelyx were worth $267,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in ARDX. Nisa Investment Advisors LLC increased its position in shares of Ardelyx by 1,026.3% in the second quarter. Nisa Investment Advisors LLC now owns 3,548 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 3,233 shares in the last quarter. Redwood Wealth Management Group LLC acquired a new stake in shares of Ardelyx in the second quarter worth $62,000. Coastal Bridge Advisors LLC acquired a new stake in shares of Ardelyx in the second quarter worth $74,000. Paloma Partners Management Co acquired a new stake in shares of Ardelyx in the first quarter worth $86,000. Finally, World Equity Group Inc. increased its position in shares of Ardelyx by 15.4% in the second quarter. World Equity Group Inc. now owns 18,402 shares of the biopharmaceutical company’s stock worth $136,000 after acquiring an additional 2,453 shares in the last quarter. Institutional investors and hedge funds own 58.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ARDX shares. HC Wainwright raised their price target on shares of Ardelyx from $10.00 to $11.00 and gave the company a “buy” rating in a report on Monday, August 5th. StockNews.com raised shares of Ardelyx from a “sell” rating to a “hold” rating in a report on Wednesday, July 31st. Wedbush reaffirmed an “outperform” rating and set a $11.00 price target on shares of Ardelyx in a report on Friday, August 2nd. Piper Sandler lowered shares of Ardelyx from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $15.00 to $7.00 in a report on Tuesday, July 2nd. Finally, Citigroup raised their price target on shares of Ardelyx from $10.00 to $12.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.67.

Insider Transactions at Ardelyx

In other news, CEO Michael Raab sold 7,500 shares of the firm’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $6.01, for a total value of $45,075.00. Following the transaction, the chief executive officer now directly owns 1,210,108 shares in the company, valued at approximately $7,272,749.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Justin A. Renz sold 5,289 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $5.86, for a total value of $30,993.54. Following the transaction, the chief financial officer now directly owns 295,257 shares in the company, valued at approximately $1,730,206.02. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael Raab sold 7,500 shares of the firm’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $6.01, for a total transaction of $45,075.00. Following the completion of the transaction, the chief executive officer now owns 1,210,108 shares in the company, valued at approximately $7,272,749.08. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 217,126 shares of company stock worth $1,320,413. 5.50% of the stock is currently owned by insiders.

Ardelyx Price Performance

Shares of ARDX stock opened at $5.84 on Monday. The firm has a market cap of $1.36 billion, a P/E ratio of -20.86 and a beta of 0.90. The company has a debt-to-equity ratio of 0.68, a current ratio of 4.21 and a quick ratio of 3.99. Ardelyx, Inc. has a 1-year low of $3.40 and a 1-year high of $10.13. The firm has a fifty day moving average of $6.09 and a two-hundred day moving average of $6.40.

Ardelyx (NASDAQ:ARDX) last announced its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.04. The company had revenue of $73.20 million during the quarter, compared to analyst estimates of $55.03 million. Ardelyx had a negative net margin of 31.02% and a negative return on equity of 39.73%. The firm’s revenue for the quarter was up 228.3% compared to the same quarter last year. During the same period last year, the business earned ($0.08) EPS. As a group, research analysts anticipate that Ardelyx, Inc. will post -0.25 earnings per share for the current fiscal year.

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.