XTX Topco Ltd Sells 30,170 Shares of Ardelyx, Inc. (NASDAQ:ARDX)

XTX Topco Ltd decreased its position in shares of Ardelyx, Inc. (NASDAQ:ARDX) by 50.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,953 shares of the biopharmaceutical company’s stock after selling 30,170 shares during the quarter. XTX Topco Ltd’s holdings in Ardelyx were worth $206,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ARDX. State Street Corp boosted its stake in shares of Ardelyx by 1.5% during the third quarter. State Street Corp now owns 12,141,850 shares of the biopharmaceutical company’s stock valued at $83,657,000 after purchasing an additional 176,789 shares in the last quarter. Eventide Asset Management LLC raised its holdings in Ardelyx by 11.2% in the 3rd quarter. Eventide Asset Management LLC now owns 7,413,049 shares of the biopharmaceutical company’s stock valued at $51,076,000 after buying an additional 746,067 shares during the last quarter. Millennium Management LLC raised its holdings in Ardelyx by 142.8% in the 2nd quarter. Millennium Management LLC now owns 3,203,090 shares of the biopharmaceutical company’s stock valued at $23,735,000 after buying an additional 1,883,995 shares during the last quarter. Rubric Capital Management LP boosted its position in Ardelyx by 68.5% during the 3rd quarter. Rubric Capital Management LP now owns 3,060,191 shares of the biopharmaceutical company’s stock worth $21,085,000 after buying an additional 1,243,606 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Ardelyx by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,938,778 shares of the biopharmaceutical company’s stock worth $13,358,000 after acquiring an additional 40,702 shares during the last quarter. Institutional investors own 58.92% of the company’s stock.

Insider Activity at Ardelyx

In other Ardelyx news, CEO Michael Raab sold 7,500 shares of the business’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $6.01, for a total transaction of $45,075.00. Following the completion of the sale, the chief executive officer now owns 1,210,108 shares in the company, valued at approximately $7,272,749.08. The trade was a 0.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider David P. Rosenbaum sold 49,564 shares of Ardelyx stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $6.92, for a total transaction of $342,982.88. Following the transaction, the insider now owns 301,946 shares of the company’s stock, valued at $2,089,466.32. This represents a 14.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 236,756 shares of company stock valued at $1,374,538 in the last three months. Corporate insiders own 5.90% of the company’s stock.

Ardelyx Price Performance

Shares of NASDAQ ARDX opened at $4.69 on Friday. The firm has a market capitalization of $1.11 billion, a P/E ratio of -15.63 and a beta of 0.83. The firm’s 50-day moving average price is $5.47 and its 200-day moving average price is $5.86. The company has a current ratio of 4.03, a quick ratio of 3.87 and a debt-to-equity ratio of 0.64. Ardelyx, Inc. has a 1-year low of $4.32 and a 1-year high of $10.13.

Wall Street Analyst Weigh In

ARDX has been the subject of several analyst reports. Citigroup dropped their price target on shares of Ardelyx from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, November 4th. HC Wainwright lowered Ardelyx from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $11.00 to $5.50 in a research report on Monday, November 11th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $10.42.

Ardelyx Profile

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.