Ardelyx, Inc. (NASDAQ:ARDX) Shares Purchased by Clay Northam Wealth Management LLC

Clay Northam Wealth Management LLC increased its stake in shares of Ardelyx, Inc. (NASDAQ:ARDX) by 9.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 307,680 shares of the biopharmaceutical company’s stock after purchasing an additional 26,208 shares during the period. Ardelyx makes up approximately 1.0% of Clay Northam Wealth Management LLC’s investment portfolio, making the stock its 19th largest position. Clay Northam Wealth Management LLC owned 0.13% of Ardelyx worth $1,560,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. raised its holdings in Ardelyx by 10.9% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 50,222 shares of the biopharmaceutical company’s stock valued at $255,000 after acquiring an additional 4,942 shares in the last quarter. Heck Capital Advisors LLC acquired a new stake in shares of Ardelyx in the 4th quarter valued at $121,000. KBC Group NV lifted its position in shares of Ardelyx by 101.8% during the 4th quarter. KBC Group NV now owns 13,706 shares of the biopharmaceutical company’s stock worth $69,000 after purchasing an additional 6,915 shares during the last quarter. Inspire Investing LLC lifted its position in shares of Ardelyx by 32.8% during the 4th quarter. Inspire Investing LLC now owns 79,423 shares of the biopharmaceutical company’s stock worth $403,000 after purchasing an additional 19,630 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of Ardelyx by 41.8% during the fourth quarter. SG Americas Securities LLC now owns 54,886 shares of the biopharmaceutical company’s stock worth $278,000 after purchasing an additional 16,182 shares in the last quarter. Institutional investors and hedge funds own 58.92% of the company’s stock.

Insider Buying and Selling at Ardelyx

In other Ardelyx news, CEO Michael Raab sold 31,980 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $4.79, for a total transaction of $153,184.20. Following the transaction, the chief executive officer now owns 1,175,385 shares of the company’s stock, valued at $5,630,094.15. This trade represents a 2.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David P. Rosenbaum sold 27,171 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $6.10, for a total value of $165,743.10. Following the completion of the transaction, the insider now directly owns 153,616 shares in the company, valued at $937,057.60. This trade represents a 15.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 207,852 shares of company stock worth $1,103,423. 5.90% of the stock is owned by corporate insiders.

Ardelyx Stock Down 1.3 %

ARDX stock opened at $5.29 on Tuesday. Ardelyx, Inc. has a 52 week low of $4.32 and a 52 week high of $10.13. The company has a current ratio of 4.03, a quick ratio of 3.87 and a debt-to-equity ratio of 0.64. The company has a market cap of $1.25 billion, a P/E ratio of -17.63 and a beta of 0.85. The company’s 50-day moving average price is $5.23 and its 200 day moving average price is $5.63.

Analyst Ratings Changes

Several brokerages have recently weighed in on ARDX. Citigroup cut their target price on Ardelyx from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Piper Sandler raised their price objective on shares of Ardelyx from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. HC Wainwright restated a “neutral” rating and issued a $5.50 target price on shares of Ardelyx in a report on Thursday, January 16th. Cantor Fitzgerald raised shares of Ardelyx to a “strong-buy” rating in a research report on Thursday, January 30th. Finally, Jefferies Financial Group reduced their price target on shares of Ardelyx from $11.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $9.42.

About Ardelyx

Ardelyx, Inc, a biopharmaceutical company, discovers, develops, and commercializes medicines to treat gastrointestinal and cardiorenal therapeutic areas in the United States and internationally. The company’s lead product candidate is tenapanor for the treatment of patients with irritable bowel syndrome with constipation.