Tudor Investment Corp ET AL Invests $688,000 in Ardelyx, Inc. $ARDX

Tudor Investment Corp ET AL acquired a new stake in Ardelyx, Inc. (NASDAQ:ARDX) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 124,939 shares of the biopharmaceutical company’s stock, valued at approximately $688,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Merit Financial Group LLC grew its position in Ardelyx by 12.0% in the 3rd quarter. Merit Financial Group LLC now owns 23,680 shares of the biopharmaceutical company’s stock worth $130,000 after purchasing an additional 2,537 shares during the last quarter. Brighton Jones LLC lifted its stake in shares of Ardelyx by 25.1% in the third quarter. Brighton Jones LLC now owns 12,701 shares of the biopharmaceutical company’s stock valued at $70,000 after buying an additional 2,550 shares during the period. Integrated Wealth Concepts LLC grew its position in Ardelyx by 24.2% during the third quarter. Integrated Wealth Concepts LLC now owns 15,263 shares of the biopharmaceutical company’s stock worth $84,000 after buying an additional 2,975 shares in the last quarter. E Fund Management Co. Ltd. grew its position in Ardelyx by 8.9% during the second quarter. E Fund Management Co. Ltd. now owns 40,023 shares of the biopharmaceutical company’s stock worth $157,000 after buying an additional 3,255 shares in the last quarter. Finally, Alliancebernstein L.P. increased its stake in Ardelyx by 1.3% during the third quarter. Alliancebernstein L.P. now owns 267,340 shares of the biopharmaceutical company’s stock valued at $1,473,000 after acquiring an additional 3,500 shares during the period. Institutional investors and hedge funds own 58.92% of the company’s stock.

Wall Street Analysts Forecast Growth

ARDX has been the subject of a number of research reports. Wedbush reiterated an “outperform” rating and issued a $19.00 price objective on shares of Ardelyx in a research report on Monday, February 23rd. Citigroup upped their target price on Ardelyx from $11.00 to $14.00 and gave the company a “buy” rating in a research note on Friday, January 9th. TD Cowen reiterated a “buy” rating on shares of Ardelyx in a research note on Thursday, January 29th. BTIG Research reissued a “buy” rating and issued a $17.00 price target on shares of Ardelyx in a report on Friday, February 20th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $15.00 price objective on shares of Ardelyx in a research note on Tuesday, January 27th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $15.70.

Ardelyx Trading Up 7.9%

ARDX stock opened at $5.99 on Wednesday. Ardelyx, Inc. has a 1-year low of $3.21 and a 1-year high of $8.40. The company has a current ratio of 4.31, a quick ratio of 4.11 and a debt-to-equity ratio of 1.21. The business’s 50 day moving average is $6.58 and its 200-day moving average is $6.09. The firm has a market cap of $1.47 billion, a P/E ratio of -23.96 and a beta of 0.61.

Ardelyx (NASDAQ:ARDX) last posted its earnings results on Thursday, February 19th. The biopharmaceutical company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.03). The company had revenue of $125.22 million for the quarter, compared to the consensus estimate of $118.04 million. Ardelyx had a negative return on equity of 40.63% and a negative net margin of 15.12%.Ardelyx’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.02 EPS. Equities analysts anticipate that Ardelyx, Inc. will post -0.18 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Laura A. Williams sold 50,000 shares of the company’s stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $6.98, for a total value of $349,000.00. Following the sale, the insider owned 361,563 shares of the company’s stock, valued at approximately $2,523,709.74. This represents a 12.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mike Kelliher sold 9,595 shares of the stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $5.85, for a total transaction of $56,130.75. Following the sale, the insider owned 364,666 shares of the company’s stock, valued at $2,133,296.10. This trade represents a 2.56% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 178,604 shares of company stock valued at $1,100,917. 4.80% of the stock is owned by company insiders.

Ardelyx Company Profile

Ardelyx, Inc (NASDAQ: ARDX) is a clinical‐stage biopharmaceutical company focused on discovering, developing and commercializing targeted small molecule drugs for cardio‐renal and gastrointestinal diseases. The company’s lead marketed product, tenapanor (sold under the brand name XPHOZAH in the United States), is approved for the treatment of hyperphosphatemia in patients with chronic kidney disease on dialysis. Ardelyx’s proprietary approach targets epithelial transporters in the gastrointestinal tract, offering localized activity with limited systemic exposure.

Beyond tenapanor, Ardelyx’s development pipeline includes treatments designed to address other complications in kidney disease and related metabolic disorders.