Ardelyx, Inc. (NASDAQ:ARDX) Short Interest Update

Ardelyx, Inc. is a biopharmaceutical company that specializes in developing and commercializing innovative treatments for rare diseases. The company's lead product candidate is tenatoxigenin (TGN), an oral therapy for the treatment of celiac disease.

As of March 31, 2023, Ardelyx had approximately 4.5 million shares outstanding and a market capitalization of $678 million. The company's short interest as of March 31, 2023 was 1.9 million shares, which represents approximately 42% of the company's outstanding shares.

Short interest is an indicator of the number of shares that have been borrowed by investors who believe that the stock will decline in price. A high level of short interest can indicate market skepticism about a company's prospects or potential risks, while low levels of short interest may suggest investor confidence in the company's future performance.

It is important to note that short interest does not necessarily reflect the actual number of shares that will be sold on the market. Additionally, changes in short interest can be influenced by a variety of factors, including news events, earnings reports, and regulatory developments. As such, investors should carefully consider the underlying reasons for any significant changes in short interest when making investment decisions.