ClariVest Asset Management LLC increased its position in shares of Ardelyx Inc. (NASDAQ:ARDX) by 5.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,100 shares of the biopharmaceutical company’s stock after buying an additional 1,800 shares during the period. ClariVest Asset Management LLC’s holdings in Ardelyx were worth $298,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of ARDX. Deerfield Management Co. bought a new stake in shares of Ardelyx during the first quarter worth $2,137,000. JPMorgan Chase & Co. increased its stake in shares of Ardelyx by 1.1% in the first quarter. JPMorgan Chase & Co. now owns 98,242 shares of the biopharmaceutical company’s stock worth $763,000 after buying an additional 1,063 shares during the period. State Street Corp increased its stake in shares of Ardelyx by 29.2% in the first quarter. State Street Corp now owns 271,831 shares of the biopharmaceutical company’s stock worth $2,111,000 after buying an additional 61,386 shares during the period. Sabby Management LLC bought a new stake in shares of Ardelyx during the first quarter worth $173,000. Finally, Geode Capital Management LLC increased its stake in shares of Ardelyx by 206.8% in the first quarter. Geode Capital Management LLC now owns 144,821 shares of the biopharmaceutical company’s stock worth $1,125,000 after buying an additional 97,621 shares during the period. 62.85% of the stock is owned by hedge funds and other institutional investors.
Shares of Ardelyx Inc. (NASDAQ:ARDX) traded up 4.74% during midday trading on Tuesday, hitting $13.25. 196,502 shares of the company were exchanged. The company’s market capitalization is $626.06 million. Ardelyx Inc. has a one year low of $6.36 and a one year high of $20.98. The company has a 50-day moving average of $12.12 and a 200 day moving average of $9.70.
Ardelyx (NASDAQ:ARDX) last released its quarterly earnings data on Monday, August 8th. The biopharmaceutical company reported ($0.83) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.75) by $0.08. On average, equities research analysts expect that Ardelyx Inc. will post ($3.03) earnings per share for the current fiscal year.
A number of analysts have weighed in on ARDX shares. Zacks Investment Research raised shares of Ardelyx from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a report on Tuesday, October 11th. Cantor Fitzgerald reissued a “buy” rating on shares of Ardelyx in a report on Wednesday, June 22nd. Leerink Swann reissued a “buy” rating on shares of Ardelyx in a report on Thursday, June 23rd. Wedbush reaffirmed an “outperform” rating and set a $24.00 price objective on shares of Ardelyx in a report on Thursday, June 23rd. Finally, Citigroup Inc. reduced their price objective on shares of Ardelyx from $14.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, August 10th. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $20.67.
In other news, SVP Jeffrey W. Jacobs sold 6,000 shares of the business’s stock in a transaction dated Tuesday, October 11th. The shares were sold at an average price of $15.00, for a total value of $90,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Elizabeth A. Grammer sold 5,000 shares of the business’s stock in a transaction dated Friday, September 23rd. The shares were sold at an average price of $12.00, for a total transaction of $60,000.00. Following the completion of the sale, the senior vice president now directly owns 1,440 shares of the company’s stock, valued at approximately $17,280. The disclosure for this sale can be found here. 15.46% of the stock is currently owned by company insiders.
Ardelyx Company Profile
Ardelyx, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of minimally systemic therapeutic drugs that work in the gastrointestinal (GI) tract to treat GI and cardio-renal diseases. The Company operates through research, development and commercialization of biopharmaceutical products segment.
Want to see what other hedge funds are holding ARDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ardelyx Inc. (NASDAQ:ARDX).
Receive News & Ratings for Ardelyx Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ardelyx Inc. and related companies with MarketBeat.com's FREE daily email newsletter.