(ARDX) - Analyzing Ardelyx's Short Interest
Portfolio Pulse from Benzinga Insights
Ardelyx (NYSE:ARDX) has seen a decrease in short interest, now at 15.3% of its float, down 3.53% since the last report. With 35.02 million shares sold short, it would take about 6.86 days to cover all short positions. This change in short interest could indicate shifting market sentiment towards ARDX, as it has more short interest compared to its peer average of 12.95%.
May 06, 2024 | 8:15 pm
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Ardelyx's short interest has decreased, now representing 15.3% of its float, which could signal a change in market sentiment towards the stock.
A decrease in short interest often suggests that investors are becoming less bearish on a stock, which could lead to an increase in its price in the short term. Given that Ardelyx's short interest is higher than its peers but has decreased, this might attract positive attention from investors analyzing short interest as a bullish indicator.
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