Janus Henderson Group PLC Sells 4,419,443 Shares of Ardelyx, Inc. (NASDAQ:ARDX)

Janus Henderson Group PLC lowered its stake in shares of Ardelyx, Inc. (NASDAQ:ARDX) by 17.0% during the third quarter, HoldingsChannel reports. The fund owned 21,529,880 shares of the biopharmaceutical company’s stock after selling 4,419,443 shares during the quarter. Janus Henderson Group PLC owned approximately 0.09% of Ardelyx worth $148,299,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Clay Northam Wealth Management LLC increased its position in Ardelyx by 154.7% during the second quarter. Clay Northam Wealth Management LLC now owns 232,377 shares of the biopharmaceutical company’s stock worth $1,722,000 after acquiring an additional 141,145 shares during the period. Rubric Capital Management LP increased its position in Ardelyx by 68.5% during the third quarter. Rubric Capital Management LP now owns 3,060,191 shares of the biopharmaceutical company’s stock worth $21,085,000 after acquiring an additional 1,243,606 shares during the period. Vestal Point Capital LP bought a new position in Ardelyx during the third quarter worth $3,445,000. SG Americas Securities LLC increased its position in Ardelyx by 283.2% during the second quarter. SG Americas Securities LLC now owns 91,672 shares of the biopharmaceutical company’s stock worth $679,000 after acquiring an additional 67,750 shares during the period. Finally, Millennium Management LLC increased its position in Ardelyx by 142.8% during the second quarter. Millennium Management LLC now owns 3,203,090 shares of the biopharmaceutical company’s stock worth $23,735,000 after acquiring an additional 1,883,995 shares during the period. Institutional investors own 58.92% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Activity at Ardelyx

In related news, CEO Michael Raab sold 25,000 shares of Ardelyx stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $5.38, for a total value of $134,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,150,385 shares of the company’s stock, valued at $6,189,071.30. The trade was a 2.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Laura A. Williams sold 7,366 shares of Ardelyx stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $4.79, for a total value of $35,283.14. Following the completion of the transaction, the insider now directly owns 308,745 shares of the company’s stock, valued at $1,478,888.55. This represents a 2.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 252,068 shares of company stock valued at $1,472,641 over the last ninety days. 5.90% of the stock is owned by insiders.

Ardelyx Stock Performance

Ardelyx stock opened at $5.58 on Thursday. The stock has a 50-day simple moving average of $5.76 and a 200 day simple moving average of $6.00. The company has a quick ratio of 3.87, a current ratio of 4.03 and a debt-to-equity ratio of 0.64. Ardelyx, Inc. has a 12-month low of $4.34 and a 12-month high of $10.13. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of -18.60 and a beta of 0.83.

About Ardelyx

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.