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

Ardelyx, Inc. (NASDAQ:ARDX) insider Mike Kelliher sold 7,758 shares of Ardelyx stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $3.86, for a total transaction of $29,945.88. Following the completion of the sale, the insider directly owned 349,660 shares in the company, valued at approximately $1,349,687.60. The trade was a 2.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Ardelyx Trading Up 1.3%

NASDAQ ARDX opened at $3.83 on Thursday. The stock has a market capitalization of $954.40 million, a P/E ratio of -17.41 and a beta of 0.70. Ardelyx, Inc. has a 52-week low of $3.72 and a 52-week high of $8.40. The firm has a 50-day moving average price of $4.93 and a 200 day moving average price of $5.72. The company has a quick ratio of 3.15, a current ratio of 3.34 and a debt-to-equity ratio of 1.69.

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

Institutional Investors Weigh In On Ardelyx

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

Analysts Set New Price Targets

A number of research firms have recently issued reports on ARDX. LADENBURG THALM/SH SH began coverage on shares of Ardelyx in a research report on Tuesday, June 16th. They set a “buy” rating and a $16.00 price target for the company. Weiss Ratings cut Ardelyx from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, June 29th. Citigroup decreased their target price on Ardelyx from $14.00 to $11.00 and set a “buy” rating on the stock in a research report on Monday, August 10th. Zacks Research lowered Ardelyx from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 22nd. Finally, BTIG Research cut their price target on Ardelyx from $17.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $13.90.

More Ardelyx News

Here are the key news stories impacting Ardelyx this week:

• Positive Sentiment: Institutional interest provides a supportive signal. BlackRock, Jupiter Topco and AIGH Capital Management reportedly initiated positions, while Bank of America and State Street increased their holdings. Institutions and hedge funds own approximately 58.9% of Ardelyx.
• Positive Sentiment: Analyst sentiment remains broadly favorable, with a consensus rating of “Moderate Buy” and a consensus price target of $13.90. Piper Sandler, HC Wainwright, Citigroup and TD Cowen continue to maintain positive ratings, although several have reduced their targets.
• Neutral Sentiment: Reported short-interest data showed zero shares short and a zero-day days-to-cover ratio, but the report also described the figure as a “large increase.” The internally inconsistent data makes this an unreliable trading signal.
• 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 transactions included CEO Michael Raab, CFO Susan Hohenleitner and other company insiders; each seller retained a substantial position, but the broad-based selling may weigh on sentiment. Ardelyx insider selling report
• Negative Sentiment: Investors purchased 11,731 put options on Ardelyx, about 328% above the average daily volume of 2,743 contracts. The activity suggests increased hedging or bearish speculation, though it does not necessarily indicate a change in the company’s fundamentals. Ardelyx put options report

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.