Ardelyx, Inc. (NASDAQ:ARDX) Shares Sold by Sargent Investment Group LLC

Sargent Investment Group LLC cut its stake in Ardelyx, Inc. (NASDAQ:ARDX) by 44.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,819 shares of the biopharmaceutical company’s stock after selling 16,118 shares during the period. Sargent Investment Group LLC’s holdings in Ardelyx were worth $123,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Willis Johnson & Associates Inc. bought a new stake in Ardelyx during the third quarter worth approximately $41,000. SJS Investment Consulting Inc. purchased a new stake in shares of Ardelyx in the 4th quarter valued at approximately $62,000. Vontobel Holding Ltd. purchased a new stake in shares of Ardelyx in the 4th quarter valued at approximately $74,000. Xponance Inc. lifted its position in shares of Ardelyx by 12.6% in the 4th quarter. Xponance Inc. now owns 14,112 shares of the biopharmaceutical company’s stock valued at $87,000 after acquiring an additional 1,575 shares in the last quarter. Finally, Values First Advisors Inc. purchased a new stake in shares of Ardelyx in the 4th quarter valued at approximately $93,000. 58.92% of the stock is currently owned by institutional investors.

Insider Activity

In other Ardelyx news, insider David P. Rosenbaum sold 15,344 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $9.18, for a total value of $140,857.92. Following the transaction, the insider now directly owns 384,002 shares in the company, valued at $3,525,138.36. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Ardelyx news, insider Robert Blanks sold 5,017 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $8.75, for a total value of $43,898.75. Following the transaction, the insider now directly owns 368,186 shares in the company, valued at $3,221,627.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider David P. Rosenbaum sold 15,344 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $9.18, for a total transaction of $140,857.92. Following the transaction, the insider now owns 384,002 shares in the company, valued at $3,525,138.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 148,820 shares of company stock worth $1,208,524. Corporate insiders own 5.50% of the company’s stock.

Analysts Set New Price Targets

ARDX has been the subject of several research analyst reports. Piper Sandler upped their price target on shares of Ardelyx from $12.00 to $15.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. SVB Leerink initiated coverage on shares of Ardelyx in a research report on Friday, April 5th. They issued an “outperform” rating and a $14.00 price target for the company. Raymond James upped their price target on shares of Ardelyx from $12.00 to $15.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 9th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Ardelyx in a research report on Friday, January 12th. Finally, StockNews.com downgraded shares of Ardelyx from a “hold” rating to a “sell” rating in a research report on Monday, February 26th. One research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $12.69.

Ardelyx Stock Performance

Shares of ARDX opened at $6.42 on Monday. The company’s fifty day moving average is $7.85 and its 200-day moving average is $6.71. Ardelyx, Inc. has a 12 month low of $3.16 and a 12 month high of $10.13. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of -21.40 and a beta of 0.85. The company has a quick ratio of 4.64, a current ratio of 4.88 and a debt-to-equity ratio of 0.30.

Ardelyx (NASDAQ:ARDX) last posted its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). Ardelyx had a negative net margin of 53.08% and a negative return on equity of 43.57%. The firm had revenue of $34.36 million during the quarter, compared to analyst estimates of $34.26 million. During the same quarter in the previous year, the business posted $0.06 earnings per share. The business’s quarterly revenue was down 22.2% compared to the same quarter last year. Equities analysts expect that Ardelyx, Inc. will post -0.44 EPS for the current fiscal year.

About Ardelyx

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.