What is the 13F Pro Quality Score for ARDX?

13F Pro ranks ARDELYX, INC. (ARDX) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View ARDX's current score at https://13fpro.ai/research/ARDX (free sign-up required for the full ranking).

Which hedge funds own the most ARDX stock?

Based on the most recent Form 13F-HR filings on SEC EDGAR, the largest reported institutional holders of ARDX include BlackRock,, MILLENNIUM MANAGEMENT, STATE STREET. Holdings are reported quarterly within 45 days of quarter-end and updated on https://13fpro.ai/research/ARDX as soon as new 13F filings post.

Where does 13F Pro source ARDX data?

All ARDELYX, INC. fundamentals and ownership data come directly from SEC EDGAR. ARDELYX, INC. files with the SEC under CIK 1437402. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is ARDX in?

ARDELYX, INC. (ARDX) is classified in the Healthcare sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/healthcare.

How often is ARDX research updated on 13F Pro?

ARDX's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

ARDELYX, INC.(ARDX)Stock Analysis

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13F Pro Quality Score

35.3/100

Rank #2,153 of 2,879 stocks

View Healthcare peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.

Revenue Growth

94.1/100

Profitability

13.3/100

Balance Sheet

11.7/100

Earnings Quality

30.0/100

Free Cash Flow

12.5/100

Institutional Flow

61.2/100

Revenue Scale

32.8/100

Dilution Risk

14.9/100

ARDX Stock Analysis & AI Quality Score

AI stock analysis and institutional research for ARDELYX, INC. (ARDX), a Healthcare sector company. 13F Pro's AI-powered ranking engine scores ARDX at 35.3/100 on a 32-signal composite quality model, placing it at rank #2,153 of 2,879 stocks — the bottom half of the AI-ranked universe. ARDX scores in the top quartile across revenue growth (94.1). Areas of concern include balance sheet strength (11.7) and free cash flow (12.5), which score below median versus the broader universe. Shareholder dilution risk is elevated at 14.9/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q1 2026), ARDELYX, INC. reports quarterly revenue of $94.5M, net income of $-37.6M, free cash flow of $-32.3M. Top institutional holders of ARDX by reported 13-F value include BlackRock,, MILLENNIUM MANAGEMENT, STATE STREET, based on the most recent SEC filings. ARDX trades on the Nasdaq exchange and files with the SEC under CIK 1437402. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate ARDX daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for ARDELYX, INC. directly from SEC EDGAR. ARDELYX, INC.'s 13F Pro composite quality score has ranged between 8 and 81 since 2021, currently 35.3 — an improving long-term trajectory across 56 quarterly and live scoring snapshots.

✦

Fun facts about ARDELYX, INC.

Quirks, history, and lore behind ARDX — the kind of stuff that makes a stock memorable.

1
The Basics
A small-cap biopharmaceutical company · listed on Nasdaq · headquartered in Massachusetts · focused on gastrointestinal and cardiorenal diseases.
2
The Numbers
Revenue in the range of tens of millions of dollars annually — classic early-commercial-stage biotech — with a market cap that has swung wildly on FDA decisions.
3
The History
Founded in the early 2000s, the company spent over a decade developing drugs that work right inside the gut lining, targeting ion transporters rather than the usual molecular suspects.
4
The Secret
Its science centers on blocking a specific sodium-hydrogen exchanger in the intestine — a mechanism most pharma companies completely ignored — to manage chronic kidney disease complications.
5
The Lore
Its lead approved drug, tenapanor, treats hyperphosphatemia in dialysis patients — a mouthful of a condition that affects millions and had very few good options.
6
The Giveaway
Ticker ARDX, drug named XPHOZAH — if you know that tenapanor finally won FDA approval after a bumpy road, you've been watching this kidney-focused biotech very closely.

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Revenue

Q1 2026

$94.5M

Net Income

Q1 2026

$-37.6M

Free Cash Flow

Q1 2026

$-32.3M

D/E Ratio

Q1 2026

1.37

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro+

Revenue

+227.3% YoY

$407.3MFY 2025

FY21 $10.1MFY22 $52.2MFY23 $124.5MFY25 $407.3M

Net Income

+6.7% YoY

$-61.6MFY 2025

FY21 $-158.0MFY22 $-67.2MFY23 $-66.0MFY25 $-61.6M

Operating Income

+35.2% YoY

$-41.0MFY 2025

FY21 $-154.3MFY22 $-63.8MFY23 $-63.3MFY25 $-41.0M

EPS (Diluted)

+13.3% YoY

$-0.26FY 2025

FY21 $-1.52FY22 $-0.42FY23 $-0.30FY25 $-0.26

Total Assets

+68.6% YoY

$501.6MFY 2025

FY21 $149.9MFY22 $190.1MFY23 $297.6MFY25 $501.6M

Total Debt

+307.1% YoY

$202.8MFY 2025

FY21 $64.5MFY22 $26.7MFY23 $49.8MFY25 $202.8M

Op. Cash Flow

+52.6% YoY

$-42.5MFY 2025

FY21 $-152.6MFY22 $-70.0MFY23 $-89.7MFY25 $-42.5M

Metric	FY 2025	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Revenue	$407.3M +227.3%	$124.5M +138.6%	$52.2M +416.6%	$10.1M +33.4%	$7.6M +43.4%	$5.3M
Net Income	$-61.6M +6.7%	$-66.0M +1.8%	$-67.2M +57.5%	$-158.0M -67.5%	$-94.3M +0.7%	$-94.9M
Operating Income	$-41.0M +35.2%	$-63.3M +0.8%	$-63.8M +58.7%	$-154.3M -70.0%	$-90.8M +0.5%	$-91.3M
EPS (Diluted)	$-0.26 +13.3%	$-0.30 +28.6%	$-0.42 +72.4%	$-1.52 -44.8%	$-1.05 +28.6%	$-1.47
Total Assets	$501.6M +68.6%	$297.6M +56.6%	$190.1M +26.8%	$149.9M -25.6%	$201.6M -22.4%	$259.8M
Total Debt	$202.8M +307.1%	$49.8M +86.5%	$26.7M -58.6%	$64.5M +27.1%	$50.8M +1.5%	$50.0M
Operating Cash Flow	$-42.5M +52.6%	$-89.7M -28.1%	$-70.0M +54.1%	$-152.6M -87.3%	$-81.4M -6.5%	$-76.5M

AI Insight: ARDX Financial Trends

Ardelyx shows volatile quarterly performance with debt doubling from $100M to $204M over two years despite revenue growth.

• Revenue grew from $73M in Q2 2024 to $125M in Q4 2025, though Q1 quarters consistently weaker.

• Operating income turned positive in Q3-Q4 2024 and Q3-Q4 2025, reaching $5M in both Q4 periods.

• Total debt doubled from $100M in Q2 2024 to $204M in Q1 2026.

⚠ Q1 quarters show consistent weakness with operating losses of $36M and $33M in 2025-2026.

⚠ Operating cash flow swung from $21M positive in Q4 2025 to $32M negative in Q1 2026.

AI Insight: ARDX Ratio Trends

Ardelyx shows extreme quarterly volatility with operating margins swinging from +7.0% in Q4 2024 to -49.0% in Q1 2025 and back to positive territory.

• Operating margin improved from -49.0% in Q1 2025 to 4.1% in Q4 2025, showing operational recovery.

• ROIC turned positive at 5.5% in Q4 2025 after severe negative -49.0% in Q1 2025.

• Debt-to-equity ratio doubled from 0.68 in Q2 2024 to 1.37 in Q1 2026.

⚠ Q1 2026 operating margin plunged to -34.7% from 4.1% in Q4 2025, suggesting potential seasonal headwinds.

⚠ Consistent pattern of Q1 margin deterioration across both 2025 and 2026 indicates possible seasonal weakness.

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Available Research

13F Pro tracks comprehensive data for ARDELYX, INC. including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of ARDX

BlackRock, Inc.
$126.8M21,164,132 sh
MILLENNIUM MANAGEMENT LLC
$106.9M17,842,370 sh
STATE STREET CORP
$81.5M13,604,307 sh
VANGUARD CAPITAL MANAGEMENT LLC
$62.1M10,365,512 sh
JANUS HENDERSON GROUP PLC
$50.1M8,371,234 sh
NOMURA ASSET MANAGEMENT INTERNATIONAL INC.
$48.9M8,169,369 sh
VANGUARD PORTFOLIO MANAGEMENT LLC
$39.9M6,661,693 sh
GEODE CAPITAL MANAGEMENT, LLC
$36.0M6,007,455 sh
Nuveen, LLC
$31.4M5,234,683 sh
TWO SIGMA INVESTMENTS, LP
$25.6M4,274,043 sh

Fund	Value	Shares
BlackRock, Inc.	$126.8M	21,164,132
MILLENNIUM MANAGEMENT LLC	$106.9M	17,842,370
STATE STREET CORP	$81.5M	13,604,307
VANGUARD CAPITAL MANAGEMENT LLC	$62.1M	10,365,512
JANUS HENDERSON GROUP PLC	$50.1M	8,371,234
NOMURA ASSET MANAGEMENT INTERNATIONAL INC.	$48.9M	8,169,369
VANGUARD PORTFOLIO MANAGEMENT LLC	$39.9M	6,661,693
GEODE CAPITAL MANAGEMENT, LLC	$36.0M	6,007,455
Nuveen, LLC	$31.4M	5,234,683
TWO SIGMA INVESTMENTS, LP	$25.6M	4,274,043

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Is ARDX a good stock to buy?

13F Pro's AI-powered analysis of ARDELYX, INC. (ARDX) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Healthcare sector (listed on Nasdaq). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for ARDX are available on the ARDX stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.

Which hedge funds own ARDX?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling ARDX. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of ARDELYX, INC.'s investment landscape.