Relypsa (NASDAQ:RLYP) reported a rise of 20.1% or 3,223,382 shares in its short interest. The short figure came in at 48.6% of the total floats. The average daily volume of 3,397,484 shares suggests that the days to cover 19,262,132 short positions, as on June 15,2016, will be 6. On May 31,2016, the short interest was 16,038,750 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Relypsa (NASDAQ:RLYP): The stock opened at $16.88 on Friday but the bulls could not build on the opening and the stock topped out at $17.85 for the day. The stock traded down to $16.81 during the day, due to lack of any buying support eventually closed down at $17.43 with a loss of -3.65% for the day. The stock had closed at $18.09 on the previous day. The total traded volume was 2,769,781 shares.
The company shares have dropped -45.85% from its 1 Year high price. On Jul 23, 2015, the shares registered one year high at $35.97 and the one year low was seen on Oct 22, 2015. The 50-Day Moving Average price is $17.06 and the 200 Day Moving Average price is recorded at $18.60.
Relypsa (NASDAQ:RLYP) has tumbled 2.63% during the past week and has dropped 3.49% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 1.01%. Relypsa (NASDAQ:RLYP) has underperformed the index by 0.57% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Relypsa, Inc. is a biopharmaceutical company focused on the development and commercialization of non-absorbed polymeric drugs to treat disorders in the areas of renal, cardiovascular and metabolic diseases. The Companys lead product candidate, Patiromer for Oral Suspension (Patiromer FOS) is for the treatment of hyperkalemia, a life-threatening condition defined as abnormally elevated levels of potassium in the blood. Its New Drug Application (NDA) for Patiromer FOS was accepted for filing by the United States Food and Drug Administration, or FDA. The Companys NDA is supported by a clinical development program consisting of eight clinical trials: three Phase I trials, four Phase II trials and one two-part Phase III trial conducted under a Special Protocol Assessment, or SPA. The active ingredient is a cross-linked polymeric bead with a calcium containing counterion. The Company has the global royalty-free commercialization rights to Patiromer FOS.