JPMorgan Chase & Co. Raises Stake in Ardelyx, Inc. (NASDAQ:ARDX)

JPMorgan Chase & Co. boosted its holdings in shares of Ardelyx, Inc. (NASDAQ:ARDXFree Report) by 1.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 387,144 shares of the biopharmaceutical company’s stock after buying an additional 6,093 shares during the quarter. JPMorgan Chase & Co.’s holdings in Ardelyx were worth $2,667,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ARDX. XTX Topco Ltd acquired a new stake in shares of Ardelyx in the second quarter worth $446,000. Public Employees Retirement Association of Colorado acquired a new stake in Ardelyx during the 2nd quarter worth about $182,000. Squarepoint Ops LLC grew its position in Ardelyx by 375.9% during the 2nd quarter. Squarepoint Ops LLC now owns 460,689 shares of the biopharmaceutical company’s stock worth $3,414,000 after purchasing an additional 363,894 shares during the period. Caxton Associates LP purchased a new position in shares of Ardelyx during the 2nd quarter valued at about $259,000. Finally, Alpha DNA Investment Management LLC acquired a new position in shares of Ardelyx in the 2nd quarter valued at about $456,000. 58.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Ardelyx

In other news, Director David M. Mott bought 213,300 shares of Ardelyx stock in a transaction on Thursday, December 19th. The stock was acquired at an average price of $4.67 per share, with a total value of $996,111.00. Following the completion of the acquisition, the director now directly owns 1,638,765 shares of the company’s stock, valued at $7,653,032.55. The trade was a 14.96 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael Raab sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $5.91, for a total value of $147,750.00. Following the completion of the transaction, the chief executive officer now owns 1,210,108 shares in the company, valued at approximately $7,151,738.28. This trade represents a 2.02 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 218,358 shares of company stock valued at $1,189,516. 5.90% of the stock is owned by company insiders.

Ardelyx Stock Down 2.9 %

Ardelyx stock opened at $5.01 on Tuesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 4.03 and a quick ratio of 3.87. The stock has a market capitalization of $1.19 billion, a PE ratio of -16.70 and a beta of 0.85. The business has a 50 day simple moving average of $5.15 and a 200-day simple moving average of $5.65. Ardelyx, Inc. has a 12 month low of $4.32 and a 12 month high of $10.13.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Citigroup dropped their target price on Ardelyx from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, November 4th. HC Wainwright reaffirmed a “neutral” rating and set a $5.50 price objective on shares of Ardelyx in a research note on Thursday, January 16th. Finally, Jefferies Financial Group decreased their target price on shares of Ardelyx from $11.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $9.25.

Read Our Latest Report on ARDX

Ardelyx Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Ardelyx (NASDAQ:ARDX)

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