Janus Henderson Investors US LLC recently announced the acquisition of new stake in Ardelyx Inc (NASDAQ:ARDX). The institutional investor has increased its shareholding in the Healthcare company by 25.08% to 27.17 million shares with purchase of 5.45 million shares. This fresh investment now brings its stake to 11.71% valued currently at $168.47 million. In addition, BlackRock Fund Advisors raised its holdings by 0.33 million to 13.0 million shares. And The Vanguard Group, Inc. has lifted its position by 0.81% or 88508.0 shares – to 11.06 million shares.
Currently, there are 232.14M common shares owned by the public and among those 222.25M shares have been available to trade.
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Insiders at the company have transacted a total of 39 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 6 of these insider trades were purchases, accounting for 119,428 shares. Insider sales of the common stock occurred on 33 occasions, with total insider shares sold totaling 193,819 shares.
The top 3 mutual fund holders in Ardelyx Inc are SPDR S&P Biotech ETF, Vanguard Total Stock Market ETF, and iShares Russell 2000 ETF. SPDR S&P Biotech ETF owns 12.2 million shares of the company’s stock, all valued at over $75.66 million. The company sold -0.12 million shares recently to bring their total holdings to about 5.26% of the shares outstanding. iShares Russell 2000 ETF sold 16416.0 shares to bring its total holdings to over 6.2 million shares at a value of $38.45 million. iShares Russell 2000 ETF now owns shares totaling to 2.67% of the shares outstanding.
However, the script later moved the day high at 8.82, up 6.52%. The company’s stock has a 5-day price change of -2.33% and 142.64% over the past three months. ARDX shares are trading 42.26% year to date (YTD), with the 12-month market performance up to 220.73% higher. It has a 12-month low price of $2.76 and touched a high of $9.38 over the same period. ARDX has an average intraday trading volume of 6.31 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 20.52%, 53.67%, and 100.46% respectively.
Institutional ownership of Ardelyx Inc (NASDAQ: ARDX) shares accounts for 54.29% of the company’s 232.14M shares outstanding. Mutual fund holders own 22.89%, while other institutional holders and individual stakeholders account for 31.44% and 12.10% respectively.
It has a market capitalization of $2.05B and a beta (3y monthly) value of 0.91. The earnings-per-share (ttm) stands at -$0.12. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.22% over the week and 6.94% over the month.
Analysts forecast that Ardelyx Inc (ARDX) will achieve an EPS of -$0.09 for the current quarter, -$0.11 for the next quarter and -$0.23 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.13 while analysts give the company a high EPS estimate of -$0.04. Comparatively, EPS for the current quarter was $0.06 a year ago. Earnings per share for the fiscal year are expected to increase by 35.89%, and 12.72% over the next financial year. EPS should grow at an annualized rate of 30.00% over the next five years, compared to 20.81% over the past 5-year period.
Looking at the support for the ARDX, a number of firms have released research notes about the stock. Raymond James stated their Strong Buy rating for the stock in a research note on December 18, 2023, with the firm’s price target at $12.
