Relypsa (NASDAQ:RLYP) has tumbled 7.45% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 19.65% in the last four weeks. The stocks have underperformed the S&P 500 by 6.34% during the past week but Relypsa (NASDAQ:RLYP) it has outperformed the index in 4 weeks by 18.56%.
Relypsa (NASDAQ:RLYP): The stock opened at $18.95 on Friday but the bulls could not build on the opening and the stock topped out at $19.10 for the day. The stock traded down to $17.42 during the day, due to lack of any buying support eventually closed down at $17.90 with a loss of -4.33% for the day. The stock had closed at $18.71 on the previous day. The total traded volume was 4,874,789 shares.
The company shares have dropped -47.83% 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 $16.89 and the 200 Day Moving Average price is recorded at $18.90.
On the companys insider trading activities, The Securities and Exchange Commission has divulged that Torley Helen, director of Relypsa Inc, had unloaded 1,013 shares at an average price of $19.32 in a transaction dated on June 7, 2016. The total value of the transaction was worth $19,571.
Many analysts have stated their opinion on the company shares. In the latest statement by the brokerage house, Wedbush maintains its outlook on Relypsa (NASDAQ:RLYP). The current rating of the shares is Outperform, according to the research report released by the firm. Previously, the company had a rating of Outperform. The brokerage firm maintains the price target from $51 per share to $51 per share. The rating by the firm was issued on June 16, 2016. Currently the company Insiders own 4.2% of Relypsa shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -34.03% . Institutional Investors own 81.43% of Relypsa shares. During last six month period, the net percent change held by insiders has seen a change of 71.72%.
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.