Ardelyx

ARDX • NASDAQ

Ardelyx is a biotechnology company in the healthcare sector on NASDAQ, with a market cap of $1.5B. As of Q3 2025, 67% of shares are held by 217 institutional investors, with BlackRock, Inc. as the largest holder at 8.64%.

Market Cap$1.5B

Biotechnology

Healthcare

Employees267.0

Websiteardelyx.com

Country

United States of America

Overview

Overview of institutional ownership in ARDX as of Q3 2025 with a market cap of $1.3B

All Institutions

Institutions: 217
Value Held: $891.9M
Shares Held: 161.9M
Avg Position: $4.1M
Median Position: $374.4K

Hedge Funds

Hedge Funds: 36
Value Held: $152.1M
Shares Held: 27.6M
Avg Position: $4.2M
Median Position: $1.2M

Ownership Breakdown

Institutional (non-HF)

55.71%

$739.7M

Hedge Funds

11.46%

$152.1M

Retail & Other

32.83%

$435.9M

Based on market cap of $1.3B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in ARDX as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
B BlackRock, Inc. Institution	-	$114.7M 0.00% of portfolio	8.64% 20.8M shares	Q3 2015 Held for 10y 2m	$5.67T
VANGUARD GROUP INC Institution	Salim Ramji CEO	$101.2M 0.00% of portfolio	7.62% 18.4M shares	Q3 2014 Held for 11y 2m	$6.69T
HENDERSON GROUP PLC Institution	Ali Dibadj CEO	$76.1M 0.03% of portfolio	5.74% 13.8M shares	Q3 2022 Held for 3y 2m	$218.74B
M MACQUARIE GROUP LTD Institution	-	$57.6M 0.07% of portfolio	4.34% 10.5M shares	Q1 2024 Held for 1y 8m	$82.9B
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$53.5M 0.00% of portfolio	4.03% 9.7M shares	Q3 2014 Held for 11y 2m	$2.88T
Marshall Wace LLP Institution	Diana Lj Harrison President	$49.3M 0.05% of portfolio	3.71% 8.9M shares	Q4 2024 Held for 11 months	$90.3B
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	Dan Michael Berkovitz Chairman	$42.1M 0.03% of portfolio	3.17% 7.6M shares	Q3 2019 Held for 6y 2m	$121.98B
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$31.7M 0.00% of portfolio	2.39% 5.8M shares	Q3 2014 Held for 11y 2m	$1.57T
N Nuveen, LLC Institution	-	$28.5M 0.01% of portfolio	2.15% 5.2M shares	Q1 2025 Held for 8 months	$377.89B
D D. E. Shaw & Co., Inc. Institution	-	$18.3M 0.02% of portfolio	1.37% 3.3M shares	Q2 2024 Held for 1y 5m	$115.81B

Net Capital Flow

Institutional buying and selling activity for ARDX in Q3 2025

Traded: −$14.9M
Buyers: 115
Sellers: 89
Total Bought: +$104.8M
Total Sold: −$119.7M
Avg Position: $3.8M

Biggest Buyers

Institution	Net Bought	Current Position
VANGUARD GROUP INC Institution	+$12.9M +2.3M shares	$101.2M 18.4M shares
N Nuveen, LLC Institution	+$9.3M +1.7M shares	$28.5M 5.2M shares
Eversept Partners, LLC Hedge Fund•Long/Short	+$7.9M +1.4M shares	$7.9M 1.4M shares
J JANE STREET GROUP, LLC Institution	+$7.9M +1.4M shares	$12.1M 2.2M shares
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	+$6.6M +1.2M shares	$6.7M 1.2M shares
D D. E. Shaw & Co., Inc. Institution	+$4.7M +854.4K shares	$18.3M 3.3M shares
R ROYAL BANK OF CANADA Institution	+$4.7M +848.4K shares	$5.0M 914.3K shares
B BNP PARIBAS ARBITRAGE, SA Institution	+$4.5M +823.8K shares	$4.8M 865.3K shares
JPMORGAN CHASE & CO Institution	+$4.2M +754.4K shares	$5.5M 1.0M shares
H HRT FINANCIAL LLC Institution	+$3.7M +667.1K shares	$3.7M 667.1K shares

Biggest Sellers

Institution	Net Sold	Current Position
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$22.2M −4.0M shares	$42.1M 7.6M shares
BANK OF AMERICA CORP /DE/ Institution	−$15.8M −2.9M shares	$14.6M 2.7M shares
Marshall Wace LLP Institution	−$12.7M −2.3M shares	$49.3M 8.9M shares
GOLDMAN SACHS GROUP INC Institution	−$7.8M −1.4M shares	$14.2M 2.6M shares
HENDERSON GROUP PLC Institution	−$6.8M −1.2M shares	$76.1M 13.8M shares
T Two Seas Capital LP Hedge Fund•Event Driven	−$6.0M −1.5M shares	Sold Off 0 shares
M MACQUARIE GROUP LTD Institution	−$5.5M −1.0M shares	$57.6M 10.5M shares
BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$4.1M −751.4K shares	$1.8M 318.4K shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	−$3.8M −682.7K shares	$8.4M 1.5M shares
A ADAR1 Capital Management, LLC Hedge Fund•Long/Short	−$3.6M −915.1K shares	Sold Off 0 shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited ARDX in Q3 2025

New Positions: 14
New Value: $12.3M
Exited Positions: 19
Exited Value: $13.2M

New Positions

Institution	Position Value
Eversept Partners, LLC Hedge Fund•Long/Short	$7.9M 1.4M shares
DIADEMA PARTNERS LP Hedge Fund•Long/Short	$2.2M 400.0K shares
N NOMURA HOLDINGS INC Institution	$914.6K 166.0K shares
P Persistent Asset Partners Ltd Institution	$507.2K 92.0K shares
IMC-Chicago, LLC RIA/Wealth	$323.8K 58.8K shares
Voleon Capital Management LP Hedge Fund•Quant	$232.8K 42.3K shares
Jain Global LLC Hedge Fund•Multi-Strategy	$74.4K 13.5K shares
C CHICAGO TRUST Co NA Institution	$72.7K 13.2K shares
R Squared Ltd Private Equity	$62.5K 11.3K shares
FIRST HORIZON NATIONAL CORP RIA/Wealth	$19.8K 3.6K shares

Exited Positions

Institution	Previous Position
T Two Seas Capital LP Hedge Fund•Event Driven	$6.0M 1.5M shares
A ADAR1 Capital Management, LLC Hedge Fund•Long/Short	$3.6M 915.1K shares
Parkman Healthcare Partners LLC Hedge Fund•Long/Short	$1.2M 301.1K shares
PDT Partners, LLC Hedge Fund•Quant	$609.1K 155.4K shares
Caption Management, LLC Hedge Fund•Long/Short	$511.6K 130.5K shares
JACOBS LEVY EQUITY MANAGEMENT, INC Hedge Fund•Quant	$345.7K 88.2K shares
Graham Capital Management, L.P. Hedge Fund•Multi-Strategy	$216.7K 55.3K shares
D DRW Securities, LLC Institution	$165.0K 42.1K shares
Verition Fund Management LLC Hedge Fund•Multi-Strategy	$118.4K 30.2K shares
WEST MICHIGAN ADVISORS, LLC RIA/Wealth	$109.8K 28.0K shares

Options Activity

Institutions with the largest Call and Put options positions in ARDX as of Q3 2025

Call Positions: 6
Call Value: $3.8M
Put Positions: 5
Put Value: $8.9M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$1.6M 3.0K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$1.0M 1.9K contracts
J JANE STREET GROUP, LLC Institution	$541.1K 982.0 contracts
J J. Goldman & Co LP Hedge Fund•Multi-Strategy	$289.3K 525.0 contracts
W WOLVERINE TRADING, LLC Institution	$171.7K 305.0 contracts
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$165.3K 300.0 contracts

Put Positions

Institution	Position Value
J JANE STREET GROUP, LLC Institution	$4.9M 9.0K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$2.1M 3.8K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$1.3M 2.4K contracts
W WOLVERINE TRADING, LLC Institution	$297.8K 529.0 contracts
S SIG BROKERAGE, LP Institution	$213.8K 388.0 contracts

Most Committed Institutions

Institutions with ARDX as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
O ORACLE INVESTMENT MANAGEMENT INC Institution	-	5.81% $8.3M	0.62% 1.5M shares	Q4 2022 Held for 2y 11m	$142.6M
L Lion Point Capital, LP Hedge Fund•Event Driven	Carl Didric Marcus Cederholm CIO	5.09% $896.8K	0.07% 162.8K shares	Q3 2022 Held for 3y 2m	$17.6M
DIADEMA PARTNERS LP Hedge Fund•Long/Short	Timothy Beau Bassett CIO	1.54% $2.2M	0.17% 400.0K shares	Q3 2025 Held for 2 months	$143.3M
Clay Northam Wealth Management, LLC RIA/Wealth	Brian Matthew Clay CCO	1.02% $1.8M	0.13% 323.5K shares	Q4 2023 Held for 1y 11m	$175.1M
S Stonepine Capital Management, LLC Institution	-	0.90% $1.1M	0.08% 200.0K shares	Q2 2025 Held for 5 months	$123.0M
M MONIMUS CAPITAL MANAGEMENT, LP Hedge Fund•Long/Short	Brian Jeffrey Bellinger Managing Partner	0.85% $1.1M	0.08% 202.3K shares	Q1 2025 Held for 8 months	$130.6M
Rock Springs Capital Management LP Hedge Fund•Sector	Nnamdi C Etoh CFO	0.74% $12.6M	0.95% 2.3M shares	Q4 2024 Held for 11 months	$1.7B
Eversept Partners, LLC Hedge Fund•Long/Short	Rishi Rasesh Shah President	0.60% $7.9M	0.59% 1.4M shares	Q3 2025 Held for 2 months	$1.3B
P Persistent Asset Partners Ltd Institution	-	0.37% $507.2K	0.04% 92.0K shares	Q3 2025 Held for 2 months	$137.1M
A AIGH Capital Management LLC Hedge Fund•Long/Short	Orin Zvi Hirschman Managing Partner	0.35% $1.1M	0.08% 198.5K shares	Q3 2025 Held for 2 months	$317.0M

Hedge Fund Spotlight

Discover hedge funds investing in ARDX

Engineers Gate Manager LP

Hedge Fund • Quant

Portfolio ManagerRobert Gregory Eisner

Portfolio Value: $8.8B
Positions: 2,112
Last Reported: Q3 2025

Sector Allocation

Position in Ardelyx

Market Value: $1.3M
Shares Held: 240.4K
Portfolio Weight: 0.02%
Owned Since: 2024-Q4

Top Holding	Sector	Market Value	Weight
1 Invesco QQQ Trust QQQ	ETF ETF	$155.2M	1.77%
2 SPDR S&P 500 ETF Trust SPY	ETF ETF	$115.3M	1.32%
3 Sabra Healthcare SBRA	REIT - Healthcare Facilities Real Estate	$112.9M	1.29%