129,863 Shares in Ardelyx, Inc. (NASDAQ:ARDX) Purchased by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. purchased a new stake in Ardelyx, Inc. (NASDAQ:ARDX) during the first quarter, according to its most recent filing with the SEC. The firm purchased 129,863 shares of the biopharmaceutical company’s stock, valued at approximately $638,000. Harbor Capital Advisors Inc. owned 0.05% of Ardelyx at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ARDX. Janus Henderson Group PLC lifted its position in shares of Ardelyx by 13.3% during the fourth quarter. Janus Henderson Group PLC now owns 24,387,941 shares of the biopharmaceutical company’s stock valued at $123,587,000 after buying an additional 2,858,061 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Ardelyx by 5.6% during the fourth quarter. Vanguard Group Inc. now owns 14,362,659 shares of the biopharmaceutical company’s stock valued at $72,819,000 after buying an additional 767,111 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Ardelyx by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 5,509,730 shares of the biopharmaceutical company’s stock valued at $27,941,000 after acquiring an additional 21,988 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Ardelyx by 2.4% during the fourth quarter. Northern Trust Corp now owns 2,150,974 shares of the biopharmaceutical company’s stock valued at $10,905,000 after acquiring an additional 50,441 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Ardelyx by 5.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,035,135 shares of the biopharmaceutical company’s stock valued at $10,318,000 after acquiring an additional 96,357 shares in the last quarter. 58.92% of the stock is currently owned by hedge funds and other institutional investors.

Ardelyx Stock Down 3.2%

NASDAQ ARDX opened at $3.60 on Friday. Ardelyx, Inc. has a 52 week low of $3.21 and a 52 week high of $8.06. 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 business’s fifty day simple moving average is $4.18 and its 200-day simple moving average is $4.90. The firm has a market cap of $861.32 million, a PE ratio of -22.50 and a beta of 0.59.

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

Insider Buying and Selling

In other Ardelyx news, insider Laura A. Williams sold 6,421 shares of Ardelyx stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $4.08, for a total value of $26,197.68. Following the completion of the transaction, the insider now directly owns 402,583 shares of the company’s stock, valued at $1,642,538.64. The trade was a 1.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mike Kelliher sold 14,522 shares of the business’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $4.08, for a total value of $59,249.76. Following the transaction, the insider now directly owns 282,158 shares of the company’s stock, valued at approximately $1,151,204.64. This represents a 4.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 681,377 shares of company stock valued at $2,676,411 and sold 166,809 shares valued at $708,914. Corporate insiders own 4.80% of the company’s stock.

Wall Street Analyst Weigh In

ARDX has been the topic of several recent analyst reports. HC Wainwright restated a “neutral” rating and set a $5.50 price objective on shares of Ardelyx in a report on Friday, February 21st. Citigroup cut their price target on shares of Ardelyx from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Cantor Fitzgerald upgraded shares of Ardelyx to a “strong-buy” rating in a report on Tuesday, March 4th. Scotiabank initiated coverage on shares of Ardelyx in a report on Friday, March 7th. They issued a “sector outperform” rating and a $15.00 price target on the stock. Finally, LADENBURG THALM/SH SH reiterated a “buy” rating and issued a $11.00 price target on shares of Ardelyx in a report on Friday, March 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.