Michael Raab Sells 58,574 Shares of Ardelyx (NASDAQ:ARDX) Stock

Ardelyx, Inc. (NASDAQ:ARDX) CEO Michael Raab sold 58,574 shares of the stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $3.86, for a total value of $226,095.64. Following the transaction, the chief executive officer directly owned 1,619,792 shares in the company, valued at approximately $6,252,397.12. The trade was a 3.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Ardelyx Stock Performance

Shares of Ardelyx stock opened at $3.83 on Thursday. The stock has a market capitalization of $954.40 million, a price-to-earnings ratio of -17.41 and a beta of 0.70. The company has a debt-to-equity ratio of 1.69, a current ratio of 3.34 and a quick ratio of 3.15. The business has a 50-day moving average of $4.93 and a 200 day moving average of $5.72. Ardelyx, Inc. has a 12 month low of $3.72 and a 12 month high of $8.40.

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

Wall Street Analysts Forecast Growth

ARDX has been the topic of a number of research reports. Zacks Research lowered shares of Ardelyx from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 22nd. Piper Sandler dropped their price target on shares of Ardelyx from $16.00 to $15.00 and set an “overweight” rating for the company in a research note on Monday, August 17th. Wedbush reaffirmed an “outperform” rating and set a $9.00 price objective on shares of Ardelyx in a research report on Tuesday, August 18th. HC Wainwright reiterated a “buy” rating and issued a $13.00 price objective on shares of Ardelyx in a research note on Friday, August 7th. Finally, TD Cowen decreased their target price on Ardelyx from $13.00 to $10.00 and set a “buy” rating for the company in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.90.

Key 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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Ardelyx in the 2nd quarter valued at approximately $35,000. SCS Capital Management LLC purchased a new stake in shares of Ardelyx during the 2nd quarter worth $52,000. ADAR1 Capital Management LLC purchased a new stake in shares of Ardelyx during the 2nd quarter worth $56,000. State of Wyoming acquired a new position in shares of Ardelyx during the second quarter worth $61,000. Finally, PVG Asset Management Corp purchased a new position in Ardelyx in the first quarter valued at $65,000. Hedge funds and other institutional investors own 58.92% of the company’s stock.

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.