33,500 Shares in Ardelyx, Inc. (ARDX) Acquired by Spark Investment Management LLC

Spark Investment Management LLC acquired a new stake in shares of Ardelyx, Inc. (NASDAQ:ARDX) during the second quarter, Holdings Channel reports. The firm acquired 33,500 shares of the biopharmaceutical company’s stock, valued at approximately $170,000.

Other institutional investors also recently made changes to their positions in the company. MARSHALL WACE ASIA Ltd bought a new position in shares of Ardelyx during the first quarter valued at $10,276,000. Marshall Wace North America L.P. bought a new position in shares of Ardelyx during the first quarter valued at $10,276,000. Teachers Advisors LLC raised its position in shares of Ardelyx by 549.9% in the first quarter. Teachers Advisors LLC now owns 306,935 shares of the biopharmaceutical company’s stock valued at $3,883,000 after buying an additional 259,705 shares in the last quarter. Sphera Funds Management LTD. raised its position in shares of Ardelyx by 127.3% in the first quarter. Sphera Funds Management LTD. now owns 345,000 shares of the biopharmaceutical company’s stock valued at $4,364,000 after buying an additional 193,187 shares in the last quarter. Finally, Driehaus Capital Management LLC raised its position in shares of Ardelyx by 800.5% in the first quarter. Driehaus Capital Management LLC now owns 171,461 shares of the biopharmaceutical company’s stock valued at $2,169,000 after buying an additional 152,421 shares in the last quarter. Hedge funds and other institutional investors own 80.95% of the company’s stock.

Shares of Ardelyx, Inc. (NASDAQ:ARDX) opened at 4.45 on Friday. The company’s market capitalization is $211.13 million. The stock’s 50 day moving average is $5.22 and its 200 day moving average is $9.13. Ardelyx, Inc. has a 52-week low of $4.05 and a 52-week high of $16.30.

Ardelyx (NASDAQ:ARDX) last posted its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.54) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.63) by $0.09. Equities analysts expect that Ardelyx, Inc. will post ($2.19) EPS for the current year.

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ARDX has been the topic of several research reports. Zacks Investment Research lowered shares of Ardelyx from a “buy” rating to a “hold” rating in a report on Tuesday, July 18th. Cantor Fitzgerald reiterated an “overweight” rating and set a $12.00 price objective (down previously from $19.00) on shares of Ardelyx in a report on Friday, May 19th. Citigroup Inc. reiterated a “buy” rating and set a $12.00 price objective (down previously from $17.00) on shares of Ardelyx in a report on Monday, May 15th. ValuEngine lowered shares of Ardelyx from a “sell” rating to a “strong sell” rating in a report on Friday, June 2nd. Finally, BidaskClub upgraded shares of Ardelyx from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $14.13.

About Ardelyx

Ardelyx, Inc is a clinical-stage biopharmaceutical company. The Company’s therapeutics focuses on addressing cardiorenal and gastrointestinal (GI) diseases. It operates through the research, development and commercialization of biopharmaceutical products segment. The Company’s products line includes cardiorenal portfolio and gastrointestinal portfolio.

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Institutional Ownership by Quarter for Ardelyx (NASDAQ:ARDX)

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