770,910 Shares in Ardelyx, Inc. $ARDX Acquired by Deutsche Bank AG

Key Points

• Deutsche Bank acquired 770,910 Ardelyx shares during the second quarter, valued at approximately $3.93 million and representing about 0.31% of the company. Institutional investors collectively own 58.92% of ARDX.
• Ardelyx reported a quarterly loss of $0.07 per share, missing estimates by $0.02, while revenue rose 34.3% year over year to $120.88 million. Shares opened at $3.78, near their 52-week low of $3.72.
• Insiders sold 126,059 shares worth approximately $486,588 over the past three months, including significant sales by CEO Michael Raab. Despite the selling, analysts maintain a consensus “Moderate Buy” rating with an average price target of $13.90.

Deutsche Bank AG acquired a new position in shares of Ardelyx, Inc. (NASDAQ:ARDX - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 770,910 shares of the biopharmaceutical company's stock, valued at approximately $3,932,000. Deutsche Bank AG owned approximately 0.31% of Ardelyx as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of ARDX. Vanguard Group Inc. increased its stake in shares of Ardelyx by 3.3% in the 4th quarter. Vanguard Group Inc. now owns 18,979,483 shares of the biopharmaceutical company's stock valued at $110,650,000 after buying an additional 610,162 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Ardelyx by 5.0% during the fourth quarter. Janus Henderson Group PLC now owns 14,514,692 shares of the biopharmaceutical company's stock valued at $84,583,000 after acquiring an additional 690,599 shares during the period. State Street Corp boosted its holdings in Ardelyx by 22.6% in the fourth quarter. State Street Corp now owns 11,912,339 shares of the biopharmaceutical company's stock valued at $69,449,000 after acquiring an additional 2,193,649 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Ardelyx by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 5,827,618 shares of the biopharmaceutical company's stock valued at $33,981,000 after acquiring an additional 70,832 shares during the last quarter. Finally, Bank of America Corp DE increased its position in Ardelyx by 88.8% in the second quarter. Bank of America Corp DE now owns 5,527,988 shares of the biopharmaceutical company's stock worth $21,670,000 after purchasing an additional 2,600,080 shares during the period. 58.92% of the stock is currently owned by institutional investors.

Ardelyx Stock Up 1.1%

Shares of NASDAQ:ARDX opened at $3.78 on Wednesday. The company has a 50 day moving average price of $4.97 and a two-hundred day moving average price of $5.75. The company has a debt-to-equity ratio of 1.69, a quick ratio of 3.15 and a current ratio of 3.34. The company has a market capitalization of $941.94 million, a PE ratio of -17.18 and a beta of 0.70. Ardelyx, Inc. has a 52 week low of $3.72 and a 52 week high of $8.40.

Ardelyx (NASDAQ:ARDX - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.02). Ardelyx had a negative return on equity of 36.00% and a negative net margin of 12.35%.The firm had revenue of $120.88 million for the quarter, compared to the consensus estimate of $121.03 million. During the same period in the prior year, the business earned ($0.08) earnings per share. The company's revenue for the quarter was up 34.3% compared to the same quarter last year. Analysts forecast that Ardelyx, Inc. will post -0.2 earnings per share for the current year.

Insider Buying and Selling at Ardelyx

In other Ardelyx news, insider Eric Duane Foster sold 8,562 shares of the business's stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $3.86, for a total value of $33,049.32. Following the completion of the transaction, the insider directly owned 409,410 shares of the company's stock, valued at approximately $1,580,322.60. The trade was a 2.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 completion of the sale, the chief executive officer owned 1,619,792 shares of the company's stock, valued at $6,252,397.12. This trade represents a 3.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 126,059 shares of company stock worth $486,588 in the last three months. 5.30% of the stock is owned by insiders.

More Ardelyx News

Here are the key news stories impacting Ardelyx this week:

• Positive Sentiment: Despite the negative signals below, the stock has increased modestly, suggesting buyers have so far absorbed the recent selling pressure.
• Neutral Sentiment: Reported short-interest data showed zero shares short and a zero-day days-to-cover ratio, while also describing the change as a “large increase.” Because the figures are internally inconsistent, they provide no reliable signal for ARDX.
• 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 sales included CEO Michael Raab, who sold 58,574 shares, and CFO Susan Hohenleitner, who sold 1,558 shares. The transactions reduced each insider’s holdings, though all retained substantial positions. CEO insider sale filing
• Negative Sentiment: Options traders purchased 11,731 put contracts on Tuesday, roughly 328% above the average volume of 2,743 contracts. The surge indicates increased hedging or bearish speculation around Ardelyx, although options activity alone does not confirm a fundamental deterioration.

Analyst Ratings Changes

Several brokerages have recently commented on ARDX. Weiss Ratings cut shares of Ardelyx from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Monday, June 29th. LADENBURG THALM/SH SH started coverage on shares of Ardelyx in a report on Tuesday, June 16th. They issued a "buy" rating and a $16.00 price objective on the stock. BTIG Research reduced their price objective on shares of Ardelyx from $17.00 to $14.00 and set a "buy" rating on the stock in a research note on Friday, August 7th. Wedbush reaffirmed an "outperform" rating and set a $9.00 target price on shares of Ardelyx in a report on Tuesday, August 18th. Finally, Citigroup dropped their target price on shares of Ardelyx from $14.00 to $11.00 and set a "buy" rating for the company in a research report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $13.90.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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