Dimensional Fund Advisors LP grew its stake in Ardelyx, Inc. (NASDAQ:ARDX) by 280.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 259,202 shares of the biopharmaceutical company’s stock after acquiring an additional 191,121 shares during the quarter. Dimensional Fund Advisors LP owned about 0.55% of Ardelyx worth $1,322,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. KCG Holdings Inc. purchased a new position in Ardelyx during the 1st quarter valued at about $127,000. State of Wisconsin Investment Board purchased a new position in shares of Ardelyx in the 2nd quarter valued at about $128,000. Bank of America Corp DE boosted its stake in shares of Ardelyx by 52.6% in the 1st quarter. Bank of America Corp DE now owns 10,612 shares of the biopharmaceutical company’s stock valued at $134,000 after buying an additional 3,659 shares during the period. Willingdon Wealth Management purchased a new position in shares of Ardelyx in the 2nd quarter valued at about $134,000. Finally, Parametric Portfolio Associates LLC boosted its stake in shares of Ardelyx by 8.9% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 27,581 shares of the biopharmaceutical company’s stock valued at $141,000 after buying an additional 2,252 shares during the period. Institutional investors and hedge funds own 76.15% of the company’s stock.
Ardelyx, Inc. (NASDAQ ARDX) opened at $6.10 on Friday. Ardelyx, Inc. has a twelve month low of $4.05 and a twelve month high of $16.30.
Ardelyx (NASDAQ:ARDX) last released its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.44) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.54) by $0.10. During the same period last year, the business posted ($0.65) earnings per share. sell-side analysts expect that Ardelyx, Inc. will post -2.01 EPS for the current fiscal year.
In other news, COO Reginald Seeto sold 10,008 shares of the business’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $5.20, for a total value of $52,041.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 15.47% of the company’s stock.
ARDX has been the subject of several recent research reports. ValuEngine cut Ardelyx from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Ladenburg Thalmann Financial Services cut their target price on Ardelyx from $19.00 to $16.00 and set a “buy” rating on the stock in a research report on Wednesday, November 22nd. Leerink Swann reissued an “outperform” rating and set a $13.00 target price on shares of Ardelyx in a research report on Tuesday, October 17th. Zacks Investment Research lowered Ardelyx from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Finally, Cantor Fitzgerald set a $12.00 target price on Ardelyx and gave the stock a “buy” rating in a research report on Tuesday, November 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company’s stock. Ardelyx has an average rating of “Buy” and an average price target of $12.64.
ILLEGAL ACTIVITY NOTICE: “Ardelyx, Inc. (NASDAQ:ARDX) Shares Bought by Dimensional Fund Advisors LP” was first reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this piece of content on another domain, it was illegally copied and republished in violation of United States and international copyright and trademark legislation. The correct version of this piece of content can be accessed at https://www.dispatchtribunal.com/2017/12/10/ardelyx-inc-ardx-position-boosted-by-dimensional-fund-advisors-lp-2.html.
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.
Receive News & Ratings for Ardelyx Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ardelyx Inc. and related companies with MarketBeat.com's FREE daily email newsletter.