Ardelyx, Inc. (NASDAQ:ARDX) Short Interest Update

Ardelyx, Inc. (NASDAQ:ARDX) saw a large decrease in short interest in January. As of January 30th, there was short interest totaling 18,557,299 shares, a decrease of 15.0% from the January 15th total of 21,833,586 shares. Based on an average daily volume of 4,965,903 shares, the short-interest ratio is currently 3.7 days. Approximately 8.0% of the company’s stock are short sold. Approximately 8.0% of the company’s stock are short sold. Based on an average daily volume of 4,965,903 shares, the short-interest ratio is currently 3.7 days.

Ardelyx Stock Performance

ARDX opened at $6.87 on Tuesday. The company has a current ratio of 4.41, a quick ratio of 4.11 and a debt-to-equity ratio of 1.31. The business’s 50 day moving average is $6.73 and its 200-day moving average is $6.07. The stock has a market cap of $1.67 billion, a PE ratio of -29.87 and a beta of 0.57. Ardelyx has a twelve month low of $3.21 and a twelve month high of $8.40.

Insiders Place Their Bets

In other Ardelyx news, CEO Michael Raab sold 46,887 shares of the stock in a transaction on Friday, November 21st. The shares were sold at an average price of $5.54, for a total transaction of $259,753.98. Following the transaction, the chief executive officer directly owned 1,455,363 shares in the company, valued at $8,062,711.02. This represents a 3.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mike Kelliher sold 5,560 shares of the firm’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $5.54, for a total transaction of $30,802.40. Following the transaction, the insider directly owned 271,181 shares of the company’s stock, valued at approximately $1,502,342.74. This represents a 2.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 114,868 shares of company stock valued at $708,369. Corporate insiders own 4.80% of the company’s stock.

Institutional Trading of Ardelyx

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Ardelyx by 26.7% in the fourth 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 in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted 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 purchasing an additional 2,532 shares during the period. Merit Financial Group LLC boosted its stake in Ardelyx by 12.0% during the 3rd quarter. Merit Financial Group LLC now owns 23,680 shares of the biopharmaceutical company’s stock valued at $130,000 after purchasing an additional 2,537 shares in the last quarter. Brighton Jones LLC increased its position in shares of Ardelyx by 25.1% during the 3rd quarter. Brighton Jones LLC now owns 12,701 shares of the biopharmaceutical company’s stock valued at $70,000 after purchasing an additional 2,550 shares during the period. Finally, Savant Capital LLC raised its stake in shares of Ardelyx by 7.1% in the 2nd quarter. Savant Capital LLC now owns 39,386 shares of the biopharmaceutical company’s stock worth $154,000 after buying an additional 2,610 shares in the last quarter. 58.92% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on ARDX shares. TD Cowen reiterated a “buy” rating on shares of Ardelyx in a research note on Thursday, January 29th. Raymond James Financial reiterated a “strong-buy” rating and issued a $19.00 target price on shares of Ardelyx in a research report on Thursday, January 8th. Piper Sandler upgraded Ardelyx from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $10.00 to $16.00 in a report on Thursday, January 8th. Citigroup raised their price objective on Ardelyx from $11.00 to $14.00 and gave the stock a “buy” rating in a research note on Friday, January 9th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Ardelyx in a research note on Wednesday, January 21st. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $14.36.

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.