Geode Capital Management LLC raised its stake in shares of Ardelyx, Inc. (NASDAQ:ARDX) by 5.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 184,664 shares of the biopharmaceutical company’s stock after buying an additional 8,855 shares during the period. Geode Capital Management LLC’s holdings in Ardelyx were worth $2,335,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. raised its position in Ardelyx by 4.0% in the first quarter. Vanguard Group Inc. now owns 1,229,557 shares of the biopharmaceutical company’s stock valued at $15,554,000 after buying an additional 47,853 shares during the period. Marshall Wace North America L.P. acquired a new position in Ardelyx during the first quarter valued at approximately $10,276,000. MARSHALL WACE ASIA Ltd acquired a new position in Ardelyx during the first quarter valued at approximately $10,276,000. TIAA CREF Investment Management LLC raised its position in Ardelyx by 9.6% in the first quarter. TIAA CREF Investment Management LLC now owns 99,143 shares of the biopharmaceutical company’s stock valued at $1,254,000 after buying an additional 8,659 shares during the period. Finally, Teachers Advisors LLC raised its position in Ardelyx by 549.9% in the first quarter. Teachers Advisors LLC now owns 306,935 shares of the biopharmaceutical company’s stock valued at $3,883,000 after buying an additional 259,705 shares during the period. 80.95% of the stock is owned by institutional investors and hedge funds.
Ardelyx, Inc. (NASDAQ ARDX) traded down 4.72% on Friday, reaching $5.05. 116,575 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $5.21 and a 200-day moving average of $8.86. Ardelyx, Inc. has a 12 month low of $4.05 and a 12 month high of $16.30. The firm’s market capitalization is $239.60 million.
Ardelyx (NASDAQ:ARDX) last announced its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.54) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.63) by $0.09. On average, equities analysts expect that Ardelyx, Inc. will post ($2.19) earnings per share for the current year.
ILLEGAL ACTIVITY WARNING: This article was first published by StockNewsTimes and is owned by of StockNewsTimes. If you are reading this article on another website, it was illegally stolen and reposted in violation of international trademark & copyright laws. The legal version of this article can be accessed at https://stocknewstimes.com/2017/08/26/geode-capital-management-llc-raises-position-in-ardelyx-inc-ardx.html.
Several research analysts have recently commented on the stock. BidaskClub raised shares of Ardelyx from a “sell” rating to a “hold” rating in a report on Wednesday. Cantor Fitzgerald set a $12.00 target price on shares of Ardelyx and gave the company a “buy” rating in a research note on Wednesday, August 9th. Zacks Investment Research lowered shares of Ardelyx from a “buy” rating to a “hold” rating in a research note on Tuesday, July 18th. ValuEngine raised shares of Ardelyx from a “strong sell” rating to a “sell” rating in a research note on Thursday, July 6th. Finally, BTIG Research reduced their target price on shares of Ardelyx from $18.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, May 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $14.13.
About Ardelyx
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.
Want to see what other hedge funds are holding ARDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ardelyx, Inc. (NASDAQ:ARDX).
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.
