Ardelyx (NASDAQ:ARDX) Insider Mike Kelliher Sells 7,758 Shares of Stock

Ardelyx, Inc. (NASDAQ:ARDX) insider Mike Kelliher sold 7,758 shares of Ardelyx stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $3.86, for a total value of $29,945.88. Following the transaction, the insider owned 349,660 shares of the company’s stock, valued at $1,349,687.60. This represents a 2.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Ardelyx Stock Up 1.1%

ARDX opened at $3.78 on Wednesday. Ardelyx, Inc. has a 1-year low of $3.72 and a 1-year high of $8.40. The stock’s fifty day simple moving average is $4.97 and its 200 day simple moving average 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 cap of $941.94 million, a PE ratio of -17.18 and a beta of 0.70.

Ardelyx (NASDAQ:ARDX) last released its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $120.88 million for the quarter, compared to the consensus estimate of $121.03 million. During the same period last year, the firm earned ($0.08) earnings per share. The company’s revenue for the quarter was up 34.3% compared to the same quarter last year. As a group, research analysts expect that Ardelyx, Inc. will post -0.2 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on ARDX shares. LADENBURG THALM/SH SH started coverage on shares of Ardelyx in a report on Tuesday, June 16th. They set a “buy” rating and a $16.00 target price for the company. Citigroup lowered their price target on shares of Ardelyx from $14.00 to $11.00 and set a “buy” rating on the stock in a report on Monday, August 10th. TD Cowen reduced their price objective on Ardelyx from $13.00 to $10.00 and set a “buy” rating for the company in a report on Friday, August 7th. Piper Sandler decreased their target price on Ardelyx from $16.00 to $15.00 and set an “overweight” rating on the stock in a research report on Monday, August 17th. Finally, Wedbush reiterated an “outperform” rating and set a $9.00 target price on shares of Ardelyx in a research note on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $13.90.

Trending Headlines about 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.

Hedge Funds Weigh In On Ardelyx

Hedge funds have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in Ardelyx in the 2nd quarter valued at $119,874,000. Vanguard Group Inc. grew its holdings in shares of Ardelyx by 3.3% during the 4th quarter. Vanguard Group Inc. now owns 18,979,483 shares of the biopharmaceutical company’s stock worth $110,650,000 after purchasing an additional 610,162 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Ardelyx by 5.0% in the fourth quarter. Janus Henderson Group PLC now owns 14,514,692 shares of the biopharmaceutical company’s stock worth $84,583,000 after purchasing an additional 690,599 shares during the period. State Street Corp raised its stake in Ardelyx by 22.6% in the fourth quarter. State Street Corp now owns 11,912,339 shares of the biopharmaceutical company’s stock valued at $69,449,000 after purchasing an additional 2,193,649 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Ardelyx by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 5,827,618 shares of the biopharmaceutical company’s stock worth $33,981,000 after purchasing an additional 70,832 shares during the period. 58.92% of the stock is owned by institutional investors.

Ardelyx Company Profile

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.