J. Goldman & Co LP Acquires New Shares in Ardelyx, Inc. $ARDX

J. Goldman & Co LP bought a new position in Ardelyx, Inc. (NASDAQ:ARDX) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,579,828 shares of the biopharmaceutical company’s stock, valued at approximately $8,057,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Ardelyx in the 2nd quarter worth about $35,000. SCS Capital Management LLC acquired a new position in shares of Ardelyx during the second quarter worth approximately $52,000. ADAR1 Capital Management LLC acquired a new stake in Ardelyx in the 2nd quarter valued at approximately $56,000. State of Wyoming bought a new stake in Ardelyx during the 2nd quarter valued at $61,000. Finally, PVG Asset Management Corp acquired a new position in Ardelyx during the 1st quarter worth $65,000. Institutional investors and hedge funds own 58.92% of the company’s stock.

Ardelyx Trading Up 1.1%

Shares of ARDX opened at $3.78 on Wednesday. The business’s 50-day moving average price is $4.97 and its 200 day moving average price is $5.75. The company has a current ratio of 3.34, a quick ratio of 3.15 and a debt-to-equity ratio of 1.69. The stock has a market capitalization of $941.94 million, a P/E ratio of -17.18 and a beta of 0.70. Ardelyx, Inc. has a 1-year low of $3.72 and a 1-year high of $8.40.

Ardelyx (NASDAQ:ARDX) last released its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.02). Ardelyx had a negative return on equity of 36.00% and a negative net margin of 12.35%.The firm had revenue of $120.88 million during the quarter, compared to analysts’ expectations of $121.03 million. During the same period last year, the business earned ($0.08) earnings per share. The business’s revenue was up 34.3% on a year-over-year basis. Analysts expect that Ardelyx, Inc. will post -0.2 earnings per share for the current year.

Insider Transactions at Ardelyx

In other news, insider James Parker Brady sold 15,136 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $3.86, for a total value of $58,424.96. Following the completion of the sale, the insider owned 245,930 shares of the company’s stock, valued at $949,289.80. This trade represents a 5.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Eric Duane Foster sold 8,562 shares of Ardelyx stock in a transaction on Friday, August 21st. The shares were sold at an average price of $3.86, for a total value of $33,049.32. Following the transaction, the insider owned 409,410 shares in the company, valued at $1,580,322.60. This represents a 2.05% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 126,059 shares of company stock worth $486,588. 5.30% of the stock is currently owned by insiders.

Ardelyx News Summary

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.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ARDX shares. Wedbush reaffirmed an “outperform” rating and issued a $9.00 price objective on shares of Ardelyx in a report on Tuesday, August 18th. Citigroup lowered their price objective on shares of Ardelyx from $14.00 to $11.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. Zacks Research lowered Ardelyx from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 22nd. TD Cowen dropped their price target on shares of Ardelyx from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, August 7th. Finally, Weiss Ratings downgraded shares of Ardelyx from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $13.90.

About Ardelyx

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.