Ardelyx (NASDAQ:ARDX) Insider Sells $29,945.88 in Stock

Ardelyx, Inc. (NASDAQ:ARDX) insider Mike Kelliher sold 7,758 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $3.86, for a total transaction of $29,945.88. Following the transaction, the insider directly owned 349,660 shares in the company, valued at approximately $1,349,687.60. This represents a 2.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Ardelyx Stock Performance

Ardelyx stock opened at $3.82 on Friday. The company has a quick ratio of 3.15, a current ratio of 3.34 and a debt-to-equity ratio of 1.69. The company has a market capitalization of $951.91 million, a PE ratio of -17.36 and a beta of 0.70. The firm has a fifty day simple moving average of $4.89 and a two-hundred day simple moving average of $5.70. Ardelyx, Inc. has a twelve month low of $3.72 and a twelve month high of $8.40.

Ardelyx (NASDAQ:ARDX) last posted its quarterly earnings results 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). 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 for the quarter, compared to analysts’ expectations of $121.03 million. During the same quarter in the previous year, the company earned ($0.08) earnings per share. The business’s quarterly revenue was up 34.3% on a year-over-year basis. Research analysts expect that Ardelyx, Inc. will post -0.2 EPS for the current year.

Institutional Inflows and Outflows

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

Wall Street Analysts Forecast Growth

ARDX has been the topic of several recent research reports. Weiss Ratings lowered Ardelyx from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, June 29th. Piper Sandler decreased their price target on Ardelyx from $16.00 to $15.00 and set an “overweight” rating on the stock in a research note on Monday, August 17th. HC Wainwright reiterated a “buy” rating and issued a $13.00 price objective on shares of Ardelyx in a research report on Friday, August 7th. Citigroup dropped their price objective on Ardelyx from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Monday, August 10th. Finally, Zacks Research cut shares of Ardelyx from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $13.90.

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.