Ardelyx Inc. (NASDAQ: ARDX) said Chief Business Officer Mike Kelliher sold 7,758 common shares on August 21 under an automatic sell-to-cover arrangement linked to a Restricted Stock Unit grant. The disposal was executed to cover tax withholding obligations, according to a filing reported on Tuesday.
The shares were sold at individual prices ranging from $3.648 to $3.984, generating total proceeds of approximately $29,921. The weighted average sale price was $3.8569 per share. Ardelyx’s stock was trading at $3.78 at the time of the report, about 1% above its 52-week low of $3.73.
Kelliher retained 349,660 common shares of Ardelyx following the transaction. The sale follows a year-to-date decline of 35% in the company’s share price.
The transaction coincides with Ardelyx’s recent financial updates. In the second quarter of 2026, the company reported a 31% year-over-year increase in revenue, reaching a record $118 million. However, Ardelyx revised its full-year guidance downward, specifically lowering expectations for its product IBSRELA and withdrawing revenue targets for XPHOZAH.
Options market activity reflected bearish sentiment, with 11,147 contracts traded, of which 10,676 were put options, indicating a preference for downside protection among traders.
