Nea Management Company buys $80.1 Million stake in Ardelyx Inc (ARDX)

Ardelyx Inc (ARDX) : Nea Management Company scooped up 1,498,535 additional shares in Ardelyx Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 11,792,631 shares of Ardelyx Inc which is valued at $80.1 Million.Ardelyx Inc makes up approximately 5.28% of Nea Management Company’s portfolio.

Other Hedge Funds, Including , Trexquant Investment Lp sold out all of its stake in ARDX during the most recent quarter. The investment firm sold 20,491 shares of ARDX which is valued $139,134.Blackrock Advisors boosted its stake in ARDX in the latest quarter, The investment management firm added 2,393 additional shares and now holds a total of 68,352 shares of Ardelyx Inc which is valued at $464,110. Alps Advisors Inc sold out all of its stake in ARDX during the most recent quarter. The investment firm sold 34,195 shares of ARDX which is valued $232,184.Foresite Capital Management Ii reduced its stake in ARDX by selling 10,000 shares or 2.09% in the most recent quarter. The Hedge Fund company now holds 468,297 shares of ARDX which is valued at $3.4 Million. Ardelyx Inc makes up approx 1.79% of Foresite Capital Management Ii’s portfolio.Nationwide Fund Advisors boosted its stake in ARDX in the latest quarter, The investment management firm added 3,811 additional shares and now holds a total of 14,411 shares of Ardelyx Inc which is valued at $104,768.

Ardelyx Inc opened for trading at $6.87 and hit $7.32 on the upside on Monday, eventually ending the session at $7.3, with a gain of 7.51% or 0.51 points. The heightened volatility saw the trading volume jump to 84,843 shares. Company has a market cap of $253 M.

Many Wall Street Analysts have commented on Ardelyx Inc. Ardelyx Inc was Initiated by Ladenburg Thalmann to “Buy” on Mar 31, 2016. Cantor Fitzgerald Initiated Ardelyx Inc on Mar 9, 2016 to “Buy”, Price Target of the shares are set at $19.Ardelyx Inc was Initiated by Citigroup to “Buy” on Mar 3, 2016.

Ardelyx Inc. is a clinical-stage biopharmaceutical company focused on the discovery development and commercialization of minimally-systemic small molecule therapeutics that work exclusively in the gastrointestinal (GI) tract to treat cardio-renal GI and metabolic diseases. The Company utilizing its platform discovered and designed its lead product candidate tenapanor which in clinical studies has demonstrated the ability to improve the symptoms of constipation-predominant irritable bowel syndrome (IBS-C) and to reduce the absorption of both dietary sodium and phosphorus. The Company in collaboration with AstraZeneca has completed a Phase IIb clinical trial evaluating tenapanor in patients with IBS-C. It also has other product candidates under development such as RDX002 for the treatment of Hyperphosphatemia RDX009 for the treatment of IBD Short Bowel Syndrome and non-alcoholic steatohepatitis (NASH) and RDX013 for the treatment of hyperkalemia.

Leave a Reply

Ardelyx Inc - Is it time to Sell?

Top Brokerage Firms are advising their investors on Ardelyx Inc. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.