Ieq Capital LLC Invests $1.23 Million in Ardelyx, Inc. $ARDX

Ieq Capital LLC bought a new stake in shares of Ardelyx, Inc. (NASDAQ:ARDX) during the 2nd quarter, Holdings Channel reports. The firm bought 240,798 shares of the biopharmaceutical company’s stock, valued at approximately $1,228,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of ARDX. SCS Capital Management LLC bought a new position in Ardelyx in the second quarter valued at about $52,000. State of Wyoming bought a new stake in shares of Ardelyx during the 2nd quarter valued at $61,000. PVG Asset Management Corp purchased a new position in shares of Ardelyx in the first quarter valued at about $65,000. Osaic Holdings Inc. boosted its stake in Ardelyx by 28.2% in the 2nd quarter. Osaic Holdings Inc. now owns 16,854 shares of the biopharmaceutical company’s stock worth $66,000 after purchasing an additional 3,709 shares during the period. Finally, Krilogy Financial LLC bought a new position in shares of Ardelyx during the first quarter worth $70,000. 58.92% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ARDX has been the subject of several research reports. Weiss Ratings downgraded shares of Ardelyx from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, June 29th. HC Wainwright reiterated a “buy” rating and issued a $13.00 target price on shares of Ardelyx in a research report on Friday, August 7th. Citigroup dropped their price target on Ardelyx from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Monday, August 10th. Wedbush restated an “outperform” rating and set a $9.00 price target on shares of Ardelyx in a report on Tuesday, August 18th. Finally, Zacks Research cut Ardelyx from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Ardelyx currently has a consensus rating of “Moderate Buy” and an average target price of $13.90.

Insiders Place Their Bets

In related news, insider Laura A. Williams sold 10,739 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $3.86, for a total transaction of $41,452.54. Following the completion of the sale, the insider directly owned 367,456 shares of the company’s stock, valued at approximately $1,418,380.16. This trade represents a 2.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James Parker Brady sold 15,136 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $3.86, for a total value of $58,424.96. Following the sale, the insider directly owned 245,930 shares of the company’s stock, valued at $949,289.80. This represents a 5.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 126,059 shares of company stock valued at $486,588 over the last quarter. Corporate insiders own 5.30% of the company’s stock.

Ardelyx Stock Up 1.3%

NASDAQ ARDX opened at $3.83 on Thursday. 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 52 week low of $3.72 and a 52 week high of $8.40. The firm 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 fifty day moving average of $4.93 and a two-hundred day moving average of $5.72.

Ardelyx (NASDAQ:ARDX) last announced its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.02). The firm had revenue of $120.88 million during the quarter, compared to analysts’ expectations 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 revenue was up 34.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.08) EPS. On average, analysts predict that Ardelyx, Inc. will post -0.2 earnings per share for the current year.

Ardelyx News Summary

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 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.