Dimensional Fund Advisors LP Purchases 191,121 Shares of Ardelyx, Inc. (NASDAQ:ARDX)

Dimensional Fund Advisors LP boosted its stake in Ardelyx, Inc. (NASDAQ:ARDX) by 280.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 259,202 shares of the biopharmaceutical company’s stock after purchasing 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 filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Teachers Advisors LLC grew its holdings in shares of Ardelyx by 549.9% in the first quarter. Teachers Advisors LLC now owns 306,935 shares of the biopharmaceutical company’s stock worth $3,883,000 after purchasing an additional 259,705 shares during the last quarter. Kennedy Capital Management Inc. bought a new position in shares of Ardelyx in the second quarter worth approximately $1,274,000. Trexquant Investment LP bought a new position in shares of Ardelyx in the second quarter worth approximately $262,000. Citadel Advisors LLC bought a new position in shares of Ardelyx in the second quarter worth approximately $248,000. Finally, Vanguard Group Inc. grew its holdings in shares of Ardelyx by 3.9% in the second quarter. Vanguard Group Inc. now owns 1,277,634 shares of the biopharmaceutical company’s stock worth $6,516,000 after purchasing an additional 48,077 shares during the last quarter. 76.15% of the stock is currently owned by hedge funds and other institutional investors.

In related 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 transaction of $52,041.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 15.47% of the company’s stock.

Shares of Ardelyx, Inc. (NASDAQ:ARDX) traded up $0.05 during trading hours on Friday, reaching $5.90. The company’s stock had a trading volume of 466,043 shares, compared to its average volume of 359,653. Ardelyx, Inc. has a fifty-two week low of $4.05 and a fifty-two week high of $15.40.

Ardelyx (NASDAQ:ARDX) last released its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.44) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.54) by $0.10. During the same quarter in the previous year, the business posted ($0.65) EPS. equities analysts forecast that Ardelyx, Inc. will post -2.01 earnings per share for the current year.

ARDX has been the topic of several recent analyst reports. Citigroup raised their target price on shares of Ardelyx from $14.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, October 12th. Cantor Fitzgerald set a $12.00 price target on shares of Ardelyx and gave the company a “buy” rating in a report on Tuesday, November 28th. Ladenburg Thalmann Financial Services cut their price target on shares of Ardelyx from $19.00 to $16.00 and set a “buy” rating on the stock in a report on Wednesday, November 22nd. Zacks Investment Research upgraded shares of Ardelyx from a “sell” rating to a “buy” rating and set a $6.50 target price on the stock in a report on Friday, November 10th. Finally, BidaskClub upgraded shares of Ardelyx from a “sell” rating to a “hold” rating in a report on Wednesday, August 23rd. 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. The stock presently has a consensus rating of “Buy” and an average price target of $12.64.

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Ardelyx Company Profile

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.

Institutional Ownership by Quarter for Ardelyx (NASDAQ:ARDX)

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