ARDX Stock Summary and Trading Ideas (Ardelyx | NASDAQ:ARDX)

Ardelyx Inc is a biotechnology company focused on the discovery, development, and commercialization of innovative, first-in-class medicines that meet significant unmet medical needs. The company has a proprietary drug discovery and design platform. Its lead product candidate is tenapanor, which aims to reduce the absorption of dietary sodium and phosphorus for the treatment of kidney disease, irritable bowel syndrome with constipation, and hyperphosphatemia in patients with dialysis.

Ardelyx trades on the NASDAQ stock market under the symbol ARDX.

As of April 23, 2024, ARDX stock price declined to $6.39 with 3,641,997 million shares trading.

ARDX has a beta of 2.20, meaning it tends to be more sensitive to market movements. ARDX has a correlation of 0.13 to the broad based SPY ETF.

ARDX has a market cap of $1.49 billion. This is considered a Small Cap stock.

Last quarter Ardelyx reported $34 million in Revenue and -$.12 earnings per share. This beat revenue expectation by $133,000 and missed earnings estimates by -$.03.

In the last 3 years, ARDX stock traded as high as $10.13 and as low as $.49.

The top ETF exchange traded funds that ARDX belongs to (by Net Assets): XBI, VTI, IWM, VXF, IWO.

ARDX has outperformed the market in the last year with a return of +29.1%, while the SPY ETF gained +24.3%. However, in the most recent history, ARDX shares have underperformed the stock market with its stock returning -26.2% in the last 3 month period and -10.9% for the last 2 week period, while SPY has returned +4.6% and -2.6%, respectively.

ARDX support price is $6.29 and resistance is $6.73 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that ARDX stock will trade within this expected range on the day.