Assenagon Asset Management S.A. Has $4.46 Million Position in Ardelyx, Inc. (NASDAQ:ARDX)

Assenagon Asset Management S.A. boosted its position in shares of Ardelyx, Inc. (NASDAQ:ARDX) by 0.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 672,905 shares of the biopharmaceutical company’s stock after purchasing an additional 4,053 shares during the quarter. Assenagon Asset Management S.A. owned 0.68% of Ardelyx worth $4,455,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ARDX. Pacer Advisors Inc. grew its holdings in Ardelyx by 66.9% during the first quarter. Pacer Advisors Inc. now owns 3,896 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 1,562 shares during the period. Sargent Investment Group LLC bought a new position in Ardelyx in the fourth quarter valued at approximately $66,000. SG Americas Securities LLC bought a new position in Ardelyx in the fourth quarter valued at approximately $71,000. Aperio Group LLC bought a new position in Ardelyx in the fourth quarter valued at approximately $74,000. Finally, Truist Financial Corp bought a new position in Ardelyx in the fourth quarter valued at approximately $86,000. Hedge funds and other institutional investors own 85.92% of the company’s stock.

Shares of ARDX stock opened at $6.75 on Tuesday. The company’s fifty day simple moving average is $7.42 and its 200-day simple moving average is $6.70. The company has a quick ratio of 11.72, a current ratio of 11.72 and a debt-to-equity ratio of 0.39. The firm has a market cap of $666.09 million, a PE ratio of -6.68 and a beta of 2.02. Ardelyx, Inc. has a 12 month low of $4.96 and a 12 month high of $9.23.

Ardelyx (NASDAQ:ARDX) last announced its quarterly earnings data on Sunday, March 7th. The biopharmaceutical company reported ($0.32) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.26) by ($0.06). The business had revenue of $1.81 million during the quarter, compared to the consensus estimate of $1.87 million. Ardelyx had a negative return on equity of 53.93% and a negative net margin of 1,063.74%. On average, equities analysts predict that Ardelyx, Inc. will post -1 earnings per share for the current fiscal year.

In other Ardelyx news, insider David P. Rosenbaum sold 5,000 shares of the company’s stock in a transaction on Tuesday, April 6th. The shares were sold at an average price of $8.00, for a total transaction of $40,000.00. Following the sale, the insider now directly owns 160,047 shares of the company’s stock, valued at $1,280,376. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.96% of the company’s stock.

ARDX has been the topic of a number of research reports. Zacks Investment Research raised shares of Ardelyx from a “sell” rating to a “hold” rating in a research note on Wednesday, March 10th. Wedbush initiated coverage on shares of Ardelyx in a research note on Monday, March 29th. They issued an “outperform” rating and a $14.00 price target on the stock. Finally, Cantor Fitzgerald started coverage on shares of Ardelyx in a research note on Tuesday, January 5th. They issued an “overweight” rating and a $14.00 price target on the stock. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $12.44.

Ardelyx Profile

Ardelyx, Inc, a biopharmaceutical company, develops and sells medicines for the treatment of kidney and cardiorenal diseases in the United States and internationally. The company's lead product candidate is tenapanor, which has completed Phase 3 clinical trial for the treatment of patients with irritable bowel syndrome with constipation, as well as in Phase 3 clinical trial for the treatment of hyperphosphatemia in end-stage renal disease patients on dialysis.

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Institutional Ownership by Quarter for Ardelyx (NASDAQ:ARDX)

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