Laura Williams Sells 10,739 Shares of Ardelyx (NASDAQ:ARDX) Stock

Ardelyx, Inc. (NASDAQ:ARDX) insider Laura Williams sold 10,739 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $3.86, for a total value of $41,452.54. Following the completion of the sale, the insider owned 367,456 shares of the company’s stock, valued at $1,418,380.16. The trade was a 2.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Ardelyx Stock Performance

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

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

Ardelyx News Roundup

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

Institutional Investors Weigh In On Ardelyx

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Mercer Global Advisors Inc. ADV raised its position in shares of Ardelyx by 4.7% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 38,512 shares of the biopharmaceutical company’s stock valued at $225,000 after buying an additional 1,722 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Ardelyx by 26.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,807 shares of the biopharmaceutical company’s stock valued at $69,000 after acquiring an additional 2,491 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its position in Ardelyx by 0.7% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 347,609 shares of the biopharmaceutical company’s stock worth $2,027,000 after acquiring an additional 2,532 shares in the last quarter. Cerity Partners LLC grew its position in Ardelyx by 5.3% in the fourth quarter. Cerity Partners LLC now owns 59,359 shares of the biopharmaceutical company’s stock worth $346,000 after acquiring an additional 2,972 shares in the last quarter. Finally, Integrated Wealth Concepts LLC increased its stake in Ardelyx by 24.2% during the third quarter. Integrated Wealth Concepts LLC now owns 15,263 shares of the biopharmaceutical company’s stock worth $84,000 after acquiring an additional 2,975 shares during the last quarter. Hedge funds and other institutional investors own 58.92% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ARDX. Weiss Ratings cut Ardelyx from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, June 29th. HC Wainwright reissued a “buy” rating and set a $13.00 price objective on shares of Ardelyx in a research report on Friday, August 7th. LADENBURG THALM/SH SH assumed coverage on shares of Ardelyx in a report on Tuesday, June 16th. They issued a “buy” rating and a $16.00 price objective for the company. TD Cowen dropped their target price on shares of Ardelyx from $13.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, August 7th. Finally, Citigroup cut their target price 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. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $13.90.

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.