Ardelyx, Inc. (NASDAQ:ARDX) Shares Bought by EntryPoint Capital LLC

EntryPoint Capital LLC grew its holdings in Ardelyx, Inc. (NASDAQ:ARDX) by 103.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 33,323 shares of the biopharmaceutical company’s stock after buying an additional 16,924 shares during the quarter. EntryPoint Capital LLC’s holdings in Ardelyx were worth $169,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Sheets Smith Investment Management purchased a new position in Ardelyx in the fourth quarter worth $58,000. Vanguard Group Inc. increased its holdings in shares of Ardelyx by 5.6% in the 4th quarter. Vanguard Group Inc. now owns 14,362,659 shares of the biopharmaceutical company’s stock valued at $72,819,000 after purchasing an additional 767,111 shares in the last quarter. Fox Run Management L.L.C. lifted its stake in shares of Ardelyx by 214.5% in the fourth quarter. Fox Run Management L.L.C. now owns 41,531 shares of the biopharmaceutical company’s stock valued at $211,000 after purchasing an additional 28,324 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in Ardelyx during the fourth quarter worth about $254,000. Finally, Teacher Retirement System of Texas grew its position in Ardelyx by 19.1% during the fourth quarter. Teacher Retirement System of Texas now owns 69,867 shares of the biopharmaceutical company’s stock worth $354,000 after buying an additional 11,191 shares during the period. 58.92% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Ardelyx news, insider Laura A. Williams sold 4,941 shares of Ardelyx stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $5.62, for a total value of $27,768.42. Following the completion of the sale, the insider now owns 303,804 shares in the company, valued at $1,707,378.48. The trade was a 1.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael Raab sold 41,668 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $5.36, for a total transaction of $223,340.48. Following the transaction, the chief executive officer now owns 1,635,138 shares in the company, valued at approximately $8,764,339.68. The trade was a 2.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 158,076 shares of company stock valued at $853,804 over the last quarter. Company insiders own 5.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ARDX. Piper Sandler upgraded shares of Ardelyx to a “hold” rating in a research report on Wednesday, March 12th. HC Wainwright reiterated a “neutral” rating and set a $5.50 target price on shares of Ardelyx in a research report on Friday, February 21st. BTIG Research initiated coverage on Ardelyx in a research report on Tuesday, March 4th. They issued a “buy” rating and a $14.00 price target for the company. Scotiabank initiated coverage on shares of Ardelyx in a research report on Friday, March 7th. They issued a “sector outperform” rating and a $15.00 price objective on the stock. Finally, Cantor Fitzgerald upgraded shares of Ardelyx to a “strong-buy” rating in a report on Tuesday, March 4th. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $10.95.

Ardelyx Stock Performance

Shares of NASDAQ ARDX opened at $4.93 on Friday. The company has a 50-day simple moving average of $5.40 and a 200-day simple moving average of $5.52. The company has a debt-to-equity ratio of 0.87, a current ratio of 4.58 and a quick ratio of 4.31. The company has a market cap of $1.18 billion, a PE ratio of -30.81 and a beta of 0.87. Ardelyx, Inc. has a 12 month low of $4.32 and a 12 month high of $9.33.

Ardelyx (NASDAQ:ARDX) last released its earnings results on Thursday, February 20th. The biopharmaceutical company reported $0.02 EPS for the quarter, hitting the consensus estimate of $0.02. Ardelyx had a negative net margin of 11.73% and a negative return on equity of 24.87%. The firm had revenue of $116.13 million during the quarter, compared to analysts’ expectations of $111.16 million. On average, equities analysts anticipate that Ardelyx, Inc. will post -0.18 earnings per share for the current 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.