Ardelyx, Inc. (NASDAQ:ARDX - Get Free Report) insider Joseph James Reilly sold 3,982 shares of the stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $3.86, for a total transaction of $15,370.52. Following the transaction, the insider directly owned 145,854 shares of the company's stock, valued at $562,996.44. This represents a 2.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Ardelyx Price Performance
Shares of ARDX opened at $3.78 on Wednesday. Ardelyx, Inc. has a twelve month low of $3.72 and a twelve month high of $8.40. The stock's 50 day moving average is $4.97 and its two-hundred day moving average is $5.75. The firm has a market capitalization of $941.94 million, a PE ratio of -17.18 and a beta of 0.70. The company has a current ratio of 3.34, a quick ratio of 3.15 and a debt-to-equity ratio of 1.69.
Ardelyx (NASDAQ:ARDX - Get Free Report) last issued its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.02). The business had revenue of $120.88 million for the quarter, compared to analysts' expectations of $121.03 million. Ardelyx had a negative return on equity of 36.00% and a negative net margin of 12.35%.The business's quarterly revenue was up 34.3% on a year-over-year basis. During the same period last year, the company posted ($0.08) earnings per share. Research analysts anticipate that Ardelyx, Inc. will post -0.2 earnings per share for the current year.
Hedge Funds Weigh In On Ardelyx
Several hedge funds and other institutional investors have recently bought and sold shares of ARDX. BlackRock Inc. purchased a new stake in Ardelyx during the second quarter worth $119,874,000. Jupiter Topco LLC purchased a new position in shares of Ardelyx in the second quarter valued at $27,043,000. AIGH Capital Management LLC acquired a new position in shares of Ardelyx during the 2nd quarter worth $16,320,000. Bank of America Corp DE raised its stake in shares of Ardelyx by 88.8% during the 2nd quarter. Bank of America Corp DE now owns 5,527,988 shares of the biopharmaceutical company's stock worth $21,670,000 after buying an additional 2,600,080 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Ardelyx by 22.6% during the 4th quarter. State Street Corp now owns 11,912,339 shares of the biopharmaceutical company's stock worth $69,449,000 after buying an additional 2,193,649 shares during the last quarter. 58.92% of the stock is owned by institutional investors and hedge funds.
Key Stories Impacting Ardelyx
Here are the key news stories impacting Ardelyx this week:
- Positive Sentiment: Despite the negative signals below, the stock has increased modestly, suggesting buyers have so far absorbed the recent selling pressure.
- Neutral Sentiment: Reported short-interest data showed zero shares short and a zero-day days-to-cover ratio, while also describing the change as a “large increase.” Because the figures are internally inconsistent, they provide no reliable signal for ARDX.
- Negative Sentiment: Eight Ardelyx insiders sold a combined 126,059 shares for approximately $486,588 at an average price of $3.86 on August 21. The sales included CEO Michael Raab, who sold 58,574 shares, and CFO Susan Hohenleitner, who sold 1,558 shares. The transactions reduced each insider’s holdings, though all retained substantial positions. CEO insider sale filing
- Negative Sentiment: Options traders purchased 11,731 put contracts on Tuesday, roughly 328% above the average volume of 2,743 contracts. The surge indicates increased hedging or bearish speculation around Ardelyx, although options activity alone does not confirm a fundamental deterioration.
Analysts Set New Price Targets
ARDX has been the subject of a number of recent analyst reports. Piper Sandler reduced their target price on Ardelyx from $16.00 to $15.00 and set an "overweight" rating for the company in a report on Monday, August 17th. HC Wainwright reaffirmed a "buy" rating and set a $13.00 price target on shares of Ardelyx in a research note on Friday, August 7th. Citigroup cut their price target on shares of Ardelyx from $14.00 to $11.00 and set a "buy" rating for the company in a report on Monday, August 10th. Zacks Research cut shares of Ardelyx from a "hold" rating to a "strong sell" rating in a research note on Wednesday, July 22nd. Finally, TD Cowen decreased their price objective on shares of Ardelyx from $13.00 to $10.00 and set a "buy" rating on the stock in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, Ardelyx has an average rating of "Moderate Buy" and a consensus target price of $13.90.
Check Out Our Latest Stock Analysis on Ardelyx
About Ardelyx
(
Get Free Report)
Ardelyx, Inc (NASDAQ: ARDX) is a clinical‐stage biopharmaceutical company focused on discovering, developing and commercializing targeted small molecule drugs for cardio‐renal and gastrointestinal diseases. The company's lead marketed product, tenapanor (sold under the brand name XPHOZAH in the United States), is approved for the treatment of hyperphosphatemia in patients with chronic kidney disease on dialysis. Ardelyx's proprietary approach targets epithelial transporters in the gastrointestinal tract, offering localized activity with limited systemic exposure.
Beyond tenapanor, Ardelyx's development pipeline includes treatments designed to address other complications in kidney disease and related metabolic disorders.
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