Ardelyx (NASDAQ:ARDX) Insider Sells $15,370.52 in Stock

Ardelyx, Inc. (NASDAQ:ARDX) insider Joseph James Reilly sold 3,982 shares of the 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 $15,370.52. Following the transaction, the insider directly owned 145,854 shares of the company’s stock, valued at approximately $562,996.44. The trade was a 2.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Ardelyx Price Performance

NASDAQ ARDX traded up $0.04 during trading on Tuesday, hitting $3.78. 3,418,138 shares of the stock traded hands, compared to its average volume of 5,069,888. 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, Inc. has a 12-month low of $3.72 and a 12-month high of $8.40. The firm has a 50-day simple moving average of $4.97 and a 200-day simple moving average of $5.75. The company has a market capitalization of $941.94 million, a P/E ratio of -17.18 and a beta of 0.70.

Ardelyx (NASDAQ:ARDX) last issued its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.02). The firm 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 firm’s revenue was up 34.3% on a year-over-year basis. During the same period last year, the company earned ($0.08) earnings per share. As a group, analysts predict that Ardelyx, Inc. will post -0.2 EPS for the current year.

Institutional Trading of Ardelyx

Several institutional investors and hedge funds have recently bought and sold shares of the business. California State Teachers Retirement System boosted its holdings in shares of Ardelyx by 397.4% in the 2nd quarter. California State Teachers Retirement System now owns 1,507,739 shares of the biopharmaceutical company’s stock valued at $7,689,000 after acquiring an additional 1,204,602 shares during the last quarter. Headlands Technologies LLC raised its stake in shares of Ardelyx by 8.2% during the 2nd quarter. Headlands Technologies LLC now owns 240,796 shares of the biopharmaceutical company’s stock valued at $1,228,000 after buying an additional 18,264 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Ardelyx by 10.4% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 486,412 shares of the biopharmaceutical company’s stock valued at $2,481,000 after buying an additional 45,738 shares during the period. Hsbc Holdings PLC grew its holdings in Ardelyx by 7.0% during the second quarter. Hsbc Holdings PLC now owns 100,550 shares of the biopharmaceutical company’s stock worth $509,000 after acquiring an additional 6,619 shares during the period. Finally, Bank of America Corp DE purchased a new position in Ardelyx during the second quarter valued at approximately $11,034,000. 58.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on ARDX. Wedbush reissued an “outperform” rating and issued a $9.00 price objective on shares of Ardelyx in a research note on Tuesday, August 18th. Weiss Ratings downgraded shares of Ardelyx from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, June 29th. Citigroup lowered their target price on shares of Ardelyx from $14.00 to $11.00 and set a “buy” rating for the company 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. Finally, Piper Sandler reduced 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. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Ardelyx presently has a consensus rating of “Moderate Buy” and a consensus 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.