AIGH Capital Management LLC Purchases 951,500 Shares of Ardelyx, Inc. $ARDX

Key Points

• AIGH Capital Management raised its stake in Ardelyx by 479.3%, buying 951,500 shares to own 1,150,000 shares (worth about $6.7M), making ARDX roughly 1.6% of AIGH’s portfolio and its 19th-largest holding.
• Ardelyx reported a Q1 revenue beat driven by ~58% YoY growth in IBSRELA to $70.1M, reiterated full-year revenue guidance of $410–$430M, and holds about $238.1M in cash to support commercialization.
• Insiders have been net sellers—128,604 shares sold over the last three months (insiders now own 4.8%)—and the company remains unprofitable with a GAAP loss of $0.15 per share for the quarter.

AIGH Capital Management LLC lifted its position in Ardelyx, Inc. (NASDAQ:ARDX - Free Report) by 479.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,150,000 shares of the biopharmaceutical company's stock after buying an additional 951,500 shares during the quarter. Ardelyx comprises approximately 1.6% of AIGH Capital Management LLC's holdings, making the stock its 19th biggest position. AIGH Capital Management LLC owned approximately 0.47% of Ardelyx worth $6,704,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. UBS Group AG boosted its position in Ardelyx by 25.4% during the fourth quarter. UBS Group AG now owns 578,344 shares of the biopharmaceutical company's stock worth $3,372,000 after purchasing an additional 117,024 shares during the period. Vanguard Group Inc. boosted its position in Ardelyx by 3.3% during the fourth quarter. Vanguard Group Inc. now owns 18,979,483 shares of the biopharmaceutical company's stock worth $110,650,000 after purchasing an additional 610,162 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in Ardelyx by 0.7% during 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. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Ardelyx by 14.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 95,934 shares of the biopharmaceutical company's stock worth $559,000 after purchasing an additional 11,987 shares during the period. Finally, First Horizon Corp boosted its position in Ardelyx by 120.4% during the fourth quarter. First Horizon Corp now owns 7,906 shares of the biopharmaceutical company's stock worth $46,000 after purchasing an additional 4,319 shares during the period. 58.92% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Joseph James Reilly sold 4,991 shares of the company's stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $5.85, for a total value of $29,197.35. Following the sale, the insider directly owned 151,790 shares in the company, valued at $887,971.50. This represents a 3.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Mike Kelliher sold 9,595 shares of the business's stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $5.85, for a total value of $56,130.75. Following the completion of the transaction, the insider directly owned 364,666 shares in the company, valued at approximately $2,133,296.10. This trade represents a 2.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 128,604 shares of company stock valued at $751,917 over the last three months. Insiders own 4.80% of the company's stock.

Ardelyx Stock Performance

NASDAQ:ARDX opened at $6.88 on Friday. The stock has a market cap of $1.69 billion, a P/E ratio of -27.52 and a beta of 0.66. The company has a current ratio of 4.31, a quick ratio of 4.11 and a debt-to-equity ratio of 1.21. The stock's 50-day moving average is $6.02 and its 200-day moving average is $6.14. Ardelyx, Inc. has a 1-year low of $3.21 and a 1-year high of $8.40.

Ardelyx (NASDAQ:ARDX - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The biopharmaceutical company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The firm had revenue of $94.47 million for the quarter, compared to the consensus estimate of $92.78 million. Ardelyx had a negative return on equity of 37.80% and a negative net margin of 13.58%.The business's revenue for the quarter was up 27.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.17) earnings per share.

Ardelyx News Summary

Here are the key news stories impacting Ardelyx this week:

• Positive Sentiment: Q1 product and revenue strength: Ardelyx reported Q1 total product revenue of about $93.4M and overall revenue that beat estimates, driven by strong demand for IBSRELA which grew ~58% year‑over‑year to $70.1M — a key driver of the upside. Ardelyx Reports First-Quarter 2026 Financial Results
• Positive Sentiment: Company reiterated full‑year revenue guidance of $410–$430M and reported a solid cash balance (~$238.1M), which supports ongoing commercialization and strategic investments. Press Release
• Positive Sentiment: Unusual options activity: buyers acquired ~7,048 call options (≈+267% vs. typical), signaling speculative/structured bullish positioning into or after the print — this can amplify intraday upside. (trade report)
• Neutral Sentiment: Earnings call and management commentary emphasized continued commercial investment and pipeline progress; read the call highlights for detail on strategy and priorities. Earnings Call Highlights
• Neutral Sentiment: Full Q1 earnings call transcript is available for investors who want granular color on sales trends, patient starts, and SG&A/R&D pacing. Earnings Call Transcript
• Negative Sentiment: EPS miss: Ardelyx reported a GAAP loss of $0.15/share versus consensus loss of $0.13 (miss of $0.02); company remains unprofitable with negative net margin and return on equity metrics that could restrain some valuation upside. Zacks: Q1 loss, revenue beat

Wall Street Analysts Forecast Growth

ARDX has been the subject of a number of research reports. Wedbush reissued an "outperform" rating and set a $19.00 target price on shares of Ardelyx in a report on Monday, February 23rd. Raymond James Financial reissued a "strong-buy" rating and set a $19.00 target price on shares of Ardelyx in a report on Thursday, January 8th. HC Wainwright lifted their target price on Ardelyx from $10.00 to $18.00 and gave the stock a "buy" rating in a report on Friday, February 20th. Citigroup lifted their target price on Ardelyx from $11.00 to $14.00 and gave the stock a "buy" rating in a report on Friday, January 9th. Finally, Leerink Partners reissued an "outperform" rating on shares of Ardelyx in a report on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $15.70.

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.

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