Schonfeld Strategic Advisors LLC Cuts Stake in Ardelyx, Inc. (NASDAQ:ARDX)

Schonfeld Strategic Advisors LLC cut its position in Ardelyx, Inc. (NASDAQ:ARDX) by 56.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 131,200 shares of the biopharmaceutical company’s stock after selling 169,684 shares during the period. Schonfeld Strategic Advisors LLC owned approximately 0.06% of Ardelyx worth $665,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Barclays PLC raised its position in Ardelyx by 24.9% in the 3rd quarter. Barclays PLC now owns 547,325 shares of the biopharmaceutical company’s stock worth $3,770,000 after buying an additional 109,285 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Ardelyx by 1.6% during the third quarter. JPMorgan Chase & Co. now owns 387,144 shares of the biopharmaceutical company’s stock valued at $2,667,000 after purchasing an additional 6,093 shares during the period. Hennion & Walsh Asset Management Inc. boosted its holdings in Ardelyx by 25.5% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 808,392 shares of the biopharmaceutical company’s stock worth $4,099,000 after purchasing an additional 164,480 shares during the last quarter. SG Americas Securities LLC grew its position in Ardelyx by 41.8% in the 4th quarter. SG Americas Securities LLC now owns 54,886 shares of the biopharmaceutical company’s stock worth $278,000 after purchasing an additional 16,182 shares during the period. Finally, Inspire Investing LLC raised its stake in Ardelyx by 32.8% during the 4th quarter. Inspire Investing LLC now owns 79,423 shares of the biopharmaceutical company’s stock valued at $403,000 after buying an additional 19,630 shares during the last quarter. 58.92% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Ardelyx news, CEO Michael Raab sold 41,668 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $5.36, for a total transaction of $223,340.48. Following the completion of the transaction, the chief executive officer now owns 1,635,138 shares in the company, valued at $8,764,339.68. This trade represents a 2.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director David M. Mott acquired 381,377 shares of the firm’s stock in a transaction dated Friday, May 2nd. The shares were purchased at an average cost of $4.22 per share, for a total transaction of $1,609,410.94. Following the completion of the acquisition, the director now directly owns 2,396,871 shares in the company, valued at approximately $10,114,795.62. This represents a 18.92 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 158,076 shares of company stock worth $777,555. 5.90% of the stock is owned by insiders.

Ardelyx Price Performance

Shares of Ardelyx stock opened at $3.62 on Friday. The company has a market capitalization of $866.10 million, a price-to-earnings ratio of -22.63 and a beta of 0.76. The company has a quick ratio of 4.31, a current ratio of 4.58 and a debt-to-equity ratio of 0.87. The stock’s 50-day simple moving average is $4.85 and its 200-day simple moving average is $5.18. Ardelyx, Inc. has a 52 week low of $3.50 and a 52 week high of $8.14.

Ardelyx (NASDAQ:ARDX) last posted its quarterly earnings results on Thursday, May 1st. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.07). The business had revenue of $74.11 million during the quarter, compared to the consensus estimate of $79.40 million. Ardelyx had a negative return on equity of 24.87% and a negative net margin of 11.73%. The company’s revenue for the quarter was up 61.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.11) earnings per share. As a group, analysts expect that Ardelyx, Inc. will post -0.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

ARDX has been the subject of several research analyst reports. Piper Sandler raised Ardelyx to a “hold” rating in a report on Wednesday, March 12th. StockNews.com downgraded Ardelyx from a “hold” rating to a “sell” rating in a research note on Monday, May 5th. LADENBURG THALM/SH SH reiterated a “buy” rating and issued a $11.00 price objective on shares of Ardelyx in a research note on Friday, March 7th. BTIG Research assumed coverage on shares of Ardelyx in a research report on Tuesday, March 4th. They set a “buy” rating and a $14.00 target price for the company. Finally, Scotiabank assumed coverage on shares of Ardelyx in a research report on Friday, March 7th. They issued a “sector outperform” rating and a $15.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $10.39.

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.