Fox Run Management L.L.C. Purchases 28,324 Shares of Ardelyx, Inc. (NASDAQ:ARDX)

Fox Run Management L.L.C. lifted its position in shares of Ardelyx, Inc. (NASDAQ:ARDX) by 214.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,531 shares of the biopharmaceutical company’s stock after acquiring an additional 28,324 shares during the period. Fox Run Management L.L.C.’s holdings in Ardelyx were worth $211,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Intech Investment Management LLC bought a new stake in shares of Ardelyx in the 3rd quarter worth $423,000. Charles Schwab Investment Management Inc. increased its holdings in Ardelyx by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,938,778 shares of the biopharmaceutical company’s stock worth $13,358,000 after buying an additional 40,702 shares in the last quarter. BNP Paribas Financial Markets raised its position in Ardelyx by 274.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 181,387 shares of the biopharmaceutical company’s stock worth $1,250,000 after buying an additional 132,928 shares during the last quarter. Vestal Point Capital LP purchased a new position in Ardelyx in the 3rd quarter worth about $3,445,000. Finally, Eventide Asset Management LLC lifted its stake in Ardelyx by 11.2% during the 3rd quarter. Eventide Asset Management LLC now owns 7,413,049 shares of the biopharmaceutical company’s stock valued at $51,076,000 after acquiring an additional 746,067 shares during the period. 58.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ARDX has been the subject of several research reports. HC Wainwright reissued a “neutral” rating and set a $5.50 price objective on shares of Ardelyx in a report on Friday, February 21st. 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. BTIG Research assumed coverage on Ardelyx in a research note on Tuesday, March 4th. They issued a “buy” rating and a $14.00 price target on the stock. Piper Sandler raised Ardelyx to a “hold” rating in a report on Wednesday, March 12th. Finally, Cantor Fitzgerald raised Ardelyx to a “strong-buy” rating in a report on Tuesday, March 4th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.95.

Insider Buying and Selling

In other Ardelyx news, Director David M. Mott acquired 199,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was purchased at an average price of $4.99 per share, with a total value of $993,010.00. Following the completion of the purchase, the director now directly owns 1,937,765 shares in the company, valued at approximately $9,669,447.35. The trade was a 11.44 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Raab sold 41,666 shares of Ardelyx stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $5.36, for a total value of $223,329.76. Following the sale, the chief executive officer now directly owns 1,108,719 shares in the company, valued at $5,942,733.84. This trade represents a 3.62 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 158,076 shares of company stock valued at $853,804. Company insiders own 5.90% of the company’s stock.

Ardelyx Stock Down 4.1 %

ARDX stock opened at $4.93 on Friday. The business’s 50-day moving average price is $5.40 and its 200-day moving average price is $5.52. The stock has a market cap of $1.18 billion, a P/E ratio of -30.81 and a beta of 0.87. The company has a quick ratio of 4.31, a current ratio of 4.58 and a debt-to-equity ratio of 0.87. Ardelyx, Inc. has a twelve month low of $4.32 and a twelve month high of $9.33.

Ardelyx (NASDAQ:ARDX) last issued its quarterly earnings results on Thursday, February 20th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, meeting the consensus estimate of $0.02. The business had revenue of $116.13 million for the quarter, compared to the consensus estimate of $111.16 million. Ardelyx had a negative net margin of 11.73% and a negative return on equity of 24.87%. On average, equities research analysts forecast that Ardelyx, Inc. will post -0.18 EPS for the current 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.