Redwood Wealth Management Group LLC acquired a new position in shares of Ardelyx, Inc. (NASDAQ:ARDX – Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 8,350 shares of the biopharmaceutical company’s stock, valued at approximately $62,000.
Several other institutional investors have also recently made changes to their positions in ARDX. Nisa Investment Advisors LLC grew its position in Ardelyx by 1,026.3% during the second quarter. Nisa Investment Advisors LLC now owns 3,548 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 3,233 shares during the period. HighMark Wealth Management LLC acquired a new stake in shares of Ardelyx during the 1st quarter valued at about $36,000. Jump Financial LLC acquired a new stake in shares of Ardelyx during the 4th quarter valued at about $63,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Ardelyx in the 1st quarter valued at about $64,000. Finally, Paloma Partners Management Co acquired a new position in Ardelyx in the 1st quarter worth about $86,000. 58.92% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Ardelyx news, insider Robert Blanks sold 38,000 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $5.96, for a total value of $226,480.00. Following the completion of the sale, the insider now directly owns 324,331 shares of the company’s stock, valued at approximately $1,933,012.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Ardelyx news, insider Robert Blanks sold 38,000 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $5.96, for a total value of $226,480.00. Following the transaction, the insider now directly owns 324,331 shares in the company, valued at approximately $1,933,012.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David P. Rosenbaum sold 20,507 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $6.00, for a total transaction of $123,042.00. Following the sale, the insider now owns 158,502 shares of the company’s stock, valued at approximately $951,012. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 199,560 shares of company stock valued at $1,167,370. Insiders own 5.50% of the company’s stock.
Analyst Ratings Changes
Check Out Our Latest Research Report on ARDX
Ardelyx Stock Performance
NASDAQ:ARDX opened at $6.31 on Monday. Ardelyx, Inc. has a twelve month low of $3.16 and a twelve month high of $10.13. The company has a market cap of $1.49 billion, a P/E ratio of -22.54 and a beta of 0.90. The company has a current ratio of 4.21, a quick ratio of 3.99 and a debt-to-equity ratio of 0.68. The company’s 50-day moving average price is $5.84 and its 200-day moving average price is $6.75.
Ardelyx (NASDAQ:ARDX – Get Free Report) last released its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.04. The business had revenue of $73.20 million for the quarter, compared to analyst estimates of $55.03 million. Ardelyx had a negative net margin of 31.02% and a negative return on equity of 39.73%. The business’s revenue was up 228.3% on a year-over-year basis. During the same period last year, the company posted ($0.08) EPS. On average, sell-side analysts forecast that Ardelyx, Inc. will post -0.26 earnings per share for the current fiscal year.
About Ardelyx
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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