Ardelyx, Inc. (NASDAQ:ARDX) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its stake in Ardelyx, Inc. (NASDAQ:ARDX) by 36.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,983 shares of the biopharmaceutical company’s stock after selling 49,084 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Ardelyx were worth $521,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of ARDX. SG Americas Securities LLC acquired a new stake in Ardelyx in the 3rd quarter worth approximately $848,000. Raymond James Financial Services Advisors Inc. boosted its stake in Ardelyx by 37.1% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 57,425 shares of the biopharmaceutical company’s stock worth $234,000 after purchasing an additional 15,554 shares in the last quarter. Willis Johnson & Associates Inc. acquired a new stake in Ardelyx in the 3rd quarter worth approximately $41,000. Inspire Investing LLC acquired a new stake in Ardelyx in the 3rd quarter worth approximately $307,000. Finally, TD Asset Management Inc raised its position in Ardelyx by 100.0% during the 3rd quarter. TD Asset Management Inc now owns 273,600 shares of the biopharmaceutical company’s stock worth $1,116,000 after buying an additional 136,800 shares during the last quarter. 58.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Ardelyx

In related news, insider Robert Blanks sold 5,017 shares of Ardelyx stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $8.75, for a total value of $43,898.75. Following the sale, the insider now owns 368,186 shares of the company’s stock, valued at approximately $3,221,627.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Robert Blanks sold 5,017 shares of Ardelyx stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $8.75, for a total value of $43,898.75. Following the sale, the insider now owns 368,186 shares of the company’s stock, valued at approximately $3,221,627.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Raab sold 7,500 shares of Ardelyx stock in a transaction on Monday, April 15th. The shares were sold at an average price of $7.06, for a total transaction of $52,950.00. Following the completion of the sale, the chief executive officer now directly owns 1,310,933 shares in the company, valued at approximately $9,255,186.98. The disclosure for this sale can be found here. In the last quarter, insiders have sold 148,820 shares of company stock valued at $1,208,524. 5.50% of the stock is owned by company insiders.

Ardelyx Price Performance

NASDAQ:ARDX opened at $6.31 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 4.88 and a quick ratio of 4.64. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of -21.03 and a beta of 0.85. The company has a 50 day moving average price of $7.90 and a 200-day moving average price of $6.65. Ardelyx, Inc. has a 1-year low of $3.16 and a 1-year high of $10.13.

Ardelyx (NASDAQ:ARDX) last released its quarterly 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 company had revenue of $34.36 million during the quarter, compared to analyst estimates of $34.26 million. During the same period in the prior year, the business posted $0.06 EPS. Ardelyx’s revenue was down 22.2% compared to the same quarter last year. Equities research analysts forecast that Ardelyx, Inc. will post -0.44 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on ARDX. SVB Leerink began coverage on shares of Ardelyx in a research report on Friday, April 5th. They set an “outperform” rating and a $14.00 price target for the company. StockNews.com lowered shares of Ardelyx from a “hold” rating to a “sell” rating in a research report on Monday, February 26th. Cantor Fitzgerald reissued an “overweight” rating on shares of Ardelyx in a research report on Friday, January 12th. Leerink Partnrs reissued an “outperform” rating on shares of Ardelyx in a research report on Friday, April 5th. Finally, Raymond James raised their price target on shares of Ardelyx from $12.00 to $15.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 9th. One analyst has rated the stock with a sell rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Ardelyx has an average rating of “Moderate Buy” and a consensus price target of $12.69.

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.