Barclays PLC Has $3.77 Million Position in Ardelyx, Inc. (NASDAQ:ARDX)

Barclays PLC raised its stake in Ardelyx, Inc. (NASDAQ:ARDX) by 24.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 547,325 shares of the biopharmaceutical company’s stock after buying an additional 109,285 shares during the quarter. Barclays PLC owned 0.23% of Ardelyx worth $3,770,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ARDX. Nisa Investment Advisors LLC raised its holdings in shares of Ardelyx by 1,026.3% during 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 position in Ardelyx in the 2nd quarter worth about $62,000. Coastal Bridge Advisors LLC purchased a new stake in shares of Ardelyx during the 2nd quarter worth about $74,000. Helen Stephens Group LLC acquired a new stake in shares of Ardelyx during the 3rd quarter valued at about $76,000. Finally, CWM LLC grew its stake in shares of Ardelyx by 328.1% in the 3rd quarter. CWM LLC now owns 12,814 shares of the biopharmaceutical company’s stock valued at $88,000 after buying an additional 9,821 shares in the last quarter. Hedge funds and other institutional investors own 58.92% of the company’s stock.

Insider Buying and Selling

In related news, CFO Justin A. Renz sold 5,260 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $4.79, for a total transaction of $25,195.40. Following the completion of the transaction, the chief financial officer now owns 291,139 shares of the company’s stock, valued at approximately $1,394,555.81. The trade was a 1.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David P. Rosenbaum sold 49,564 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $6.92, for a total value of $342,982.88. Following the completion of the sale, the insider now directly owns 301,946 shares in the company, valued at $2,089,466.32. This trade represents a 14.10 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 236,756 shares of company stock valued at $1,374,538. Company insiders own 5.90% of the company’s stock.

Ardelyx Trading Up 2.8 %

Shares of ARDX stock opened at $4.82 on Monday. Ardelyx, Inc. has a 12 month low of $4.32 and a 12 month high of $10.13. The company has a market cap of $1.14 billion, a PE ratio of -16.07 and a beta of 0.83. The company has a quick ratio of 3.87, a current ratio of 4.03 and a debt-to-equity ratio of 0.64. The business’s 50 day moving average is $5.45 and its two-hundred day moving average is $5.83.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Citigroup cut their price objective on shares of Ardelyx from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. HC Wainwright downgraded shares of Ardelyx from a “buy” rating to a “neutral” rating and cut their price target for the company from $11.00 to $5.50 in a report on Monday, November 11th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $10.42.

Ardelyx 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.