SG Americas Securities LLC Buys 110,459 Shares of Ardelyx, Inc. $ARDX

SG Americas Securities LLC lifted its stake in Ardelyx, Inc. (NASDAQ:ARDX) by 514.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 131,925 shares of the biopharmaceutical company’s stock after buying an additional 110,459 shares during the period. SG Americas Securities LLC owned about 0.05% of Ardelyx worth $727,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. boosted its holdings in Ardelyx by 1.3% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 780,348 shares of the biopharmaceutical company’s stock valued at $4,300,000 after purchasing an additional 9,991 shares in the last quarter. Merit Financial Group LLC increased its holdings in shares of Ardelyx by 12.0% in the third quarter. Merit Financial Group LLC now owns 23,680 shares of the biopharmaceutical company’s stock valued at $130,000 after purchasing an additional 2,537 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Ardelyx during the third quarter worth $139,000. V. M. Manning & CO. Inc. acquired a new position in Ardelyx during the 3rd quarter valued at about $229,000. Finally, CWM LLC boosted its stake in Ardelyx by 42.3% in the third quarter. CWM LLC now owns 114,231 shares of the biopharmaceutical company’s stock valued at $629,000 after acquiring an additional 33,973 shares during the last quarter. Institutional investors and hedge funds own 58.92% of the company’s stock.

Insider Activity at Ardelyx

In related news, CEO Michael Raab sold 46,887 shares of Ardelyx stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $5.54, for a total transaction of $259,753.98. Following the sale, the chief executive officer directly owned 1,455,363 shares of the company’s stock, valued at approximately $8,062,711.02. The trade was a 3.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Laura A. Williams sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $6.98, for a total transaction of $349,000.00. Following the completion of the sale, the insider owned 361,563 shares in the company, valued at $2,523,709.74. This represents a 12.15% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 114,868 shares of company stock valued at $708,369. 4.80% of the stock is currently owned by company insiders.

Ardelyx Stock Up 3.0%

ARDX stock opened at $7.99 on Thursday. The business has a 50-day simple moving average of $6.11 and a 200 day simple moving average of $5.68. The company has a market cap of $1.94 billion, a PE ratio of -34.74 and a beta of 0.56. The company has a quick ratio of 4.11, a current ratio of 4.41 and a debt-to-equity ratio of 1.31. Ardelyx, Inc. has a 52 week low of $3.21 and a 52 week high of $8.17.

Ardelyx (NASDAQ:ARDX) last released 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 firm had revenue of $110.33 million during the quarter, compared to analysts’ expectations of $100.44 million. Ardelyx’s revenue was up 14.6% compared to the same quarter last year. Sell-side analysts anticipate that Ardelyx, Inc. will post -0.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ARDX shares. TD Cowen restated a “buy” rating on shares of Ardelyx in a research report on Friday, October 31st. BTIG Research boosted their target price on Ardelyx from $14.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, January 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Ardelyx in a research note on Wednesday, October 8th. Piper Sandler raised shares of Ardelyx from a “neutral” rating to an “overweight” rating and raised their target price for the company from $10.00 to $16.00 in a research note on Thursday, January 8th. Finally, Wedbush boosted their price target on Ardelyx from $16.00 to $19.00 and gave the stock an “outperform” rating in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $14.30.

Ardelyx Company 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.