Harbor Capital Advisors Inc. Sells 133,140 Shares of Ardelyx, Inc. $ARDX

Harbor Capital Advisors Inc. trimmed its stake in shares of Ardelyx, Inc. (NASDAQ:ARDX) by 57.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 100,108 shares of the biopharmaceutical company’s stock after selling 133,140 shares during the period. Harbor Capital Advisors Inc.’s holdings in Ardelyx were worth $552,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ARDX. DCF Advisers LLC purchased a new position in Ardelyx during the 2nd quarter valued at approximately $39,000. Brighton Jones LLC bought a new position in shares of Ardelyx during the 2nd quarter valued at approximately $40,000. Focus Partners Advisor Solutions LLC purchased a new position in shares of Ardelyx in the first quarter valued at $56,000. Vontobel Holding Ltd. purchased a new position in shares of Ardelyx in the third quarter valued at $63,000. Finally, CHICAGO TRUST Co NA bought a new stake in Ardelyx in the third quarter worth $73,000. Hedge funds and other institutional investors own 58.92% of the company’s stock.

Insider Buying and Selling

In other Ardelyx news, CEO Michael Raab sold 46,887 shares of the stock in a transaction on Friday, November 21st. The stock was sold at an average price of $5.54, for a total transaction of $259,753.98. Following the sale, the chief executive officer owned 1,455,363 shares of the company’s stock, valued at approximately $8,062,711.02. This trade represents a 3.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Elizabeth A. Grammer sold 5,995 shares of Ardelyx stock in a transaction on Friday, November 21st. The shares were sold at an average price of $5.54, for a total value of $33,212.30. Following the completion of the transaction, the insider owned 299,895 shares in the company, valued at $1,661,418.30. This represents a 1.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 64,868 shares of company stock worth $359,369 in the last three months. Corporate insiders own 4.80% of the company’s stock.

Wall Street Analyst Weigh In

ARDX has been the subject of a number of recent research reports. TD Cowen lifted their price objective on shares of Ardelyx from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Wedbush lowered Ardelyx from an “outperform” rating to a “hold” rating in a research report on Tuesday, November 25th. Citigroup boosted their price objective on Ardelyx from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. Cowen restated a “buy” rating on shares of Ardelyx in a research report on Friday, October 31st. Finally, Raymond James Financial reaffirmed a “strong-buy” rating on shares of Ardelyx in a research note on Tuesday, November 25th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Ardelyx currently has a consensus rating of “Moderate Buy” and an average price target of $11.73.

Ardelyx Price Performance

Ardelyx stock opened at $5.74 on Monday. The company has a debt-to-equity ratio of 1.31, a current ratio of 4.41 and a quick ratio of 4.11. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of -24.96 and a beta of 0.55. The firm has a 50-day moving average of $5.69 and a two-hundred day moving average of $5.33. Ardelyx, Inc. has a 1 year low of $3.21 and a 1 year high of $6.78.

Ardelyx (NASDAQ:ARDX) last issued its earnings results on Thursday, October 30th. The biopharmaceutical company reported $0.00 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.06. Ardelyx had a negative return on equity of 36.91% and a negative net margin of 14.20%.The business had revenue of $110.33 million during the quarter, compared to analysts’ expectations of $100.44 million. The firm’s quarterly revenue was up 14.6% compared to the same quarter last year. On average, research analysts forecast that Ardelyx, Inc. will post -0.18 earnings per share for the current year.

Ardelyx Profile

Ardelyx, Inc (NASDAQ: ARDX) is a clinical‐stage biopharmaceutical company focused on discovering, developing and commercializing targeted small molecule drugs for cardio‐renal and gastrointestinal diseases. The company’s lead marketed product, tenapanor (sold under the brand name XPHOZAH in the United States), is approved for the treatment of hyperphosphatemia in patients with chronic kidney disease on dialysis. Ardelyx’s proprietary approach targets epithelial transporters in the gastrointestinal tract, offering localized activity with limited systemic exposure.

Beyond tenapanor, Ardelyx’s development pipeline includes treatments designed to address other complications in kidney disease and related metabolic disorders.