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

Ieq Capital LLC acquired a new stake in Ardelyx, Inc. (NASDAQ:ARDX) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 240,798 shares of the biopharmaceutical company’s stock, valued at approximately $1,228,000. Ieq Capital LLC owned 0.10% of Ardelyx at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ARDX. SCS Capital Management LLC acquired a new stake in Ardelyx during the second quarter worth approximately $52,000. Krilogy Financial LLC bought a new position in shares of Ardelyx during the 1st quarter worth approximately $70,000. PVG Asset Management Corp bought a new position in shares of Ardelyx during the 1st quarter worth approximately $65,000. Richmond Investment Services LLC acquired a new stake in shares of Ardelyx during the 1st quarter worth approximately $72,000. Finally, Chicago Partners Investment Group LLC acquired a new stake in shares of Ardelyx during the 1st quarter worth approximately $76,000. Institutional investors own 58.92% of the company’s stock.

Ardelyx Stock Performance

NASDAQ ARDX opened at $3.83 on Thursday. The company’s 50 day simple moving average is $4.93 and its two-hundred day simple moving average is $5.72. The company has a debt-to-equity ratio of 1.69, a current ratio of 3.34 and a quick ratio of 3.15. Ardelyx, Inc. has a 1 year low of $3.72 and a 1 year high of $8.40. The stock has a market capitalization of $954.40 million, a PE ratio of -17.41 and a beta of 0.70.

Ardelyx (NASDAQ:ARDX) last announced its 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). The company had revenue of $120.88 million for the quarter, compared to the consensus estimate 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 for the quarter was up 34.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.08) earnings per share. Analysts predict that Ardelyx, Inc. will post -0.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on ARDX shares. TD Cowen lowered their target price on Ardelyx from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, August 7th. LADENBURG THALM/SH SH assumed coverage on Ardelyx in a research note on Tuesday, June 16th. They issued a “buy” rating and a $16.00 price objective for the company. Zacks Research cut Ardelyx from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 22nd. Weiss Ratings downgraded Ardelyx from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, June 29th. Finally, BTIG Research lowered their price target on Ardelyx from $17.00 to $14.00 and set a “buy” rating for the company in a research report on Friday, August 7th. One equities research 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 company’s stock. According to MarketBeat, Ardelyx currently has a consensus rating of “Moderate Buy” and an average price target 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

Insider Buying and Selling

In related news, insider Eric Duane Foster sold 8,562 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 $33,049.32. Following the transaction, the insider directly owned 409,410 shares in the company, valued at $1,580,322.60. This trade represents a 2.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 transaction of $58,424.96. Following the completion of the transaction, the insider owned 245,930 shares in the company, valued at $949,289.80. This represents a 5.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 126,059 shares of company stock worth $486,588 over the last 90 days. Insiders own 5.30% of the company’s stock.

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.