This Is What Whales Are Betting On Ardelyx

Investors with significant funds have taken a bearish position in Ardelyx ARDX, a development that retail traders should be aware of.

This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in ARDX usually indicates foreknowledge of upcoming events.

Today, Benzinga's options scanner identified 9 options transactions for Ardelyx. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 22% being bullish and 77% bearish. Of all the options we discovered, 8 are puts, valued at $212,000, and there was a single call, worth $37,500.

What's The Price Target?

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $5.5 and $10.0 for Ardelyx, spanning the last three months.

Volume & Open Interest Trends

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Ardelyx's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Ardelyx's significant trades, within a strike price range of $5.5 to $10.0, over the past month.

Ardelyx Option Volume And Open Interest Over Last 30 Days

Significant Options Trades Detected:

About Ardelyx

Ardelyx Inc is a biotechnology company focused on the discovery, development, and commercialization of molecule and polymeric therapeutics to treat the gastrointestinal tract and cardiorenal diseases. 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.

Following our analysis of the options activities associated with Ardelyx, we pivot to a closer look at the company's own performance.

Where Is Ardelyx Standing Right Now?

• Currently trading with a volume of 1,062,495, the ARDX's price is down by -0.67%, now at $8.88.
• RSI readings suggest the stock is currently may be overbought.
• Anticipated earnings release is in 29 days.

Expert Opinions on Ardelyx

3 market experts have recently issued ratings for this stock, with a consensus target price of $14.0.

• Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for Ardelyx, targeting a price of $14.
• An analyst from Raymond James persists with their Strong Buy rating on Ardelyx, maintaining a target price of $15.
• An analyst from Wedbush has decided to maintain their Outperform rating on Ardelyx, which currently sits at a price target of $13.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Ardelyx options trades with real-time alerts from Benzinga Pro.