Charles Schwab Investment Management Inc. Sells 6,865 Shares of Ardelyx, Inc. (NASDAQ:ARDX)

Charles Schwab Investment Management Inc. lessened its stake in shares of Ardelyx, Inc. (NASDAQ:ARDX) by 2.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 233,483 shares of the biopharmaceutical company’s stock after selling 6,865 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.26% of Ardelyx worth $1,226,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Candriam Luxembourg S.C.A. acquired a new stake in shares of Ardelyx during the third quarter worth $3,347,000. Morgan Stanley raised its holdings in Ardelyx by 460.7% during the first quarter. Morgan Stanley now owns 681,148 shares of the biopharmaceutical company’s stock worth $3,872,000 after acquiring an additional 559,666 shares in the last quarter. Vanguard Group Inc. raised its stake in Ardelyx by 14.3% in the second quarter. Vanguard Group Inc. now owns 3,607,003 shares of the biopharmaceutical company’s stock valued at $24,961,000 after buying an additional 451,958 shares during the period. Assenagon Asset Management S.A. bought a new stake in Ardelyx in the third quarter valued at approximately $3,522,000. Finally, Amalgamated Bank bought a new stake in Ardelyx in the second quarter valued at approximately $81,000. Hedge funds and other institutional investors own 84.59% of the company’s stock.

In related news, insider Elizabeth A. Grammer sold 42,000 shares of the stock in a transaction dated Monday, December 14th. The shares were sold at an average price of $7.30, for a total value of $306,600.00. Also, Director David M. Mott purchased 170,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 10th. The stock was bought at an average cost of $5.89 per share, with a total value of $1,001,300.00. The disclosure for this purchase can be found here. 3.96% of the stock is currently owned by insiders.

Ardelyx stock opened at $6.47 on Friday. 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 stock has a market cap of $583.90 million, a P/E ratio of -6.41 and a beta of 2.03. The company’s 50 day moving average price is $6.35 and its two-hundred day moving average price is $6.04. Ardelyx, Inc. has a 52 week low of $4.22 and a 52 week high of $8.81.

Ardelyx (NASDAQ:ARDX) last issued its earnings results on Tuesday, November 10th. The biopharmaceutical company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.08. The business had revenue of $2.71 million for the quarter, compared to analysts’ expectations of $1.31 million. Ardelyx had a negative net margin of 1,063.74% and a negative return on equity of 53.93%. On average, equities analysts anticipate that Ardelyx, Inc. will post -1 EPS for the current year.

Several equities analysts have recently commented on the company. ValuEngine raised Ardelyx from a “hold” rating to a “buy” rating in a research report on Tuesday, November 17th. BidaskClub raised Ardelyx from a “sell” rating to a “hold” rating in a report on Thursday, November 5th. SVB Leerink increased their price target on Ardelyx from $11.00 to $14.00 and gave the company an “outperform” rating in a research note on Friday, December 11th. Finally, Zacks Investment Research cut Ardelyx from a “hold” rating to a “sell” rating in a research note on Tuesday, October 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $11.44.

Ardelyx Profile

Ardelyx, Inc, a biopharmaceutical company, develops and sells medicines for the treatment of 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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