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Delta Air Lines Inc. (DAL), Ardelyx Inc. (ARDX) & Exa Corp (EXA) Witnessing Insider Buying Activity

We can turn our focus on Ardelyx Inc. (NASDAQ:ARDX), which had an insider purchase stock last week. Director William C. Bertrand Jr. acquired a new stake of 5,000 shares on Thursday for $20 apiece. The clinical-stage biopharmaceutical company that focuses on the development of minimally-systemic therapeutic drugs for the treatment of cardio-renal and gastrointestinal diseases has seen its shares gain 5% thus far in 2015. The company has not generated any revenues from product sales yet, while most of its revenue has been derived from license payments and reimbursements for research and development expenses under certain license agreements, which were terminated earlier this year. Ardelyx initiated its first Phase 3 clinical trial on its lead candidate tenapanor for the treatment of constipation-predominant irritable bowel syndrome (IBS-C) this October, and was anticipated to initiate the second Phase 3 trial in IBS-C and a Phase 2b trial for the treatment of hyperphosphatemia this month. A total of seven funds tracked by Insider Monkey were invested in the company at the end of the third quarter, as compared with ten a quarter earlier. Hedge funds monitored by our team amassed 16% of the company’s outstanding common stock on September 30. Peter Kolchinsky’s RA Capital Management reported owning 1.06 million shares in Ardelyx Inc. (NASDAQ:ARDX) through its latest 13F filing.

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Exa Corp (NASDAQ:EXA) has witnessed a high volume of insider buying in the past several days. To begin with, Chief Financial Officer Richard F. Gilbody bought 3,010 shares on Monday and 16,990 shares last week at prices that ranged from $10.34 to $11.00 per share, and currently holds 20,000 shares. Director Wayne D. Mackie snapped up 21,985 shares last week through multiple transactions at prices between $10.00 and $10.69 per share, boosting his overall stake to 60,148 shares. This company develops and sells simulation software used by vehicle manufacturers to improve the performance of their products and enhance the efficiency of their design. The company’s PowerFLOW, which is a software solution for simulating fluid flow problems (e.g. aerodynamics, thermal management, and aeroacoustics), enables vehicle manufacturers to reduce aerodynamic drag. On the surface, it seems that the company does not have too many growth opportunities, considering that 125 manufacturers already use its products and services (including 14 of the top 15 passenger vehicle manufacturer groups). Nonetheless, Exa is currently investigating and considering other markets that could use its software solutions, including the aerospace industry, oil and gas production industry, to name just a few. Meanwhile, the company reported net revenues of $47.19 million for the nine months ended September 30, up from $44.57 million reported a year ago. This increase was mainly attributable to new license customers and higher utilization of simulation capacity by existing clients. George Soros’ Soros Fund Management holds a 1.26 million-share position in Exa Corp (NASDAQ:EXA) as of September 30.

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Disclosure: None

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