Ardelyx, Inc. $ARDX Shares Sold by Janus Henderson Group PLC

Key Points

• Janus Henderson Group cut its Ardelyx stake by 42.3% in the first quarter, selling 6.14 million shares and retaining 8.37 million shares worth about $50.1 million. Institutional investors and hedge funds collectively own 58.92% of ARDX.
• Ardelyx shares opened at $4.95, down 1.8%, with the stock trading well below its 52-week high of $8.40. The company reported quarterly revenue of $94.47 million, up 27.5% year over year, but missed earnings estimates with a loss of $0.15 per share.
• Analyst sentiment remains mixed but leans positive, with a consensus rating of “Moderate Buy” and an average price target of $15.73. Recent ratings included a Zacks downgrade to “Strong Sell” and a Ladenburg Thalmann “Buy” rating with a $16 target.

Janus Henderson Group PLC cut its stake in Ardelyx, Inc. (NASDAQ:ARDX - Free Report) by 42.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,371,234 shares of the biopharmaceutical company's stock after selling 6,143,458 shares during the quarter. Janus Henderson Group PLC owned approximately 3.39% of Ardelyx worth $50,144,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ARDX. First Horizon Corp raised its holdings in shares of Ardelyx by 120.4% during the fourth quarter. First Horizon Corp now owns 7,906 shares of the biopharmaceutical company's stock valued at $46,000 after acquiring an additional 4,319 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of Ardelyx in the fourth quarter worth approximately $60,000. State of Wyoming acquired a new stake in shares of Ardelyx in the second quarter worth approximately $61,000. Osaic Holdings Inc. boosted its stake in shares of Ardelyx by 28.2% in the second quarter. Osaic Holdings Inc. now owns 16,854 shares of the biopharmaceutical company's stock worth $66,000 after acquiring an additional 3,709 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Ardelyx by 26.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,807 shares of the biopharmaceutical company's stock worth $69,000 after purchasing an additional 2,491 shares in the last quarter. 58.92% of the stock is currently owned by institutional investors and hedge funds.

Ardelyx Trading Down 1.8%

Shares of Ardelyx stock opened at $4.95 on Friday. The company has a debt-to-equity ratio of 1.37, a current ratio of 3.49 and a quick ratio of 3.28. The stock's 50 day simple moving average is $5.51 and its 200-day simple moving average is $6.15. The stock has a market cap of $1.22 billion, a P/E ratio of -21.52 and a beta of 0.61. Ardelyx, Inc. has a 1-year low of $4.07 and a 1-year high of $8.40.

Ardelyx (NASDAQ:ARDX - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The biopharmaceutical company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.02). Ardelyx had a negative net margin of 13.58% and a negative return on equity of 38.11%. The company had revenue of $94.47 million during the quarter, compared to analyst estimates of $92.78 million. During the same period in the prior year, the business posted ($0.17) EPS. Ardelyx's revenue for the quarter was up 27.5% compared to the same quarter last year. Analysts predict that Ardelyx, Inc. will post -0.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Zacks Research downgraded Ardelyx from a "hold" rating to a "strong sell" rating in a research note on Wednesday, July 22nd. Weiss Ratings cut shares of Ardelyx from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Monday, June 29th. Finally, LADENBURG THALM/SH SH initiated coverage on shares of Ardelyx in a report on Tuesday, June 16th. They set a "buy" rating and a $16.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $15.73.

Insider Buying and Selling at Ardelyx

In other Ardelyx news, insider Eric Duane Foster sold 7,998 shares of the company's stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $6.27, for a total value of $50,147.46. Following the completion of the sale, the insider directly owned 417,972 shares in the company, valued at $2,620,684.44. This represents a 1.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mike Kelliher sold 7,248 shares of the business's stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $6.27, for a total transaction of $45,444.96. Following the transaction, the insider directly owned 357,418 shares in the company, valued at approximately $2,241,010.86. The trade was a 1.99% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 24,572 shares of company stock valued at $154,066. 5.30% of the stock is owned by company insiders.

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.

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