Foresite Capital Management Iii Lowers stake in Ardelyx Inc (ARDX)

Ardelyx Inc (ARDX) : Foresite Capital Management Iii reduced its stake in Ardelyx Inc by 7.23% during the most recent quarter end. The investment management company now holds a total of 601,485 shares of Ardelyx Inc which is valued at $6,062,969 after selling 46,855 shares in Ardelyx Inc , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Ardelyx Inc makes up approximately 3.88% of Foresite Capital Management Iii’s portfolio.

Other Hedge Funds, Including , Proshare Advisors boosted its stake in ARDX in the latest quarter, The investment management firm added 262 additional shares and now holds a total of 28,575 shares of Ardelyx Inc which is valued at $288,036.Blackrock Advisors boosted its stake in ARDX in the latest quarter, The investment management firm added 305 additional shares and now holds a total of 68,657 shares of Ardelyx Inc which is valued at $692,063.Clarivest Asset Management boosted its stake in ARDX in the latest quarter, The investment management firm added 1,800 additional shares and now holds a total of 34,100 shares of Ardelyx Inc which is valued at $364,188. Ardelyx Inc makes up approx 0.01% of Clarivest Asset Management’s portfolio.

Ardelyx Inc closed down -0.04 points or -0.39% at $10.31 with 1,81,121 shares getting traded on Monday. Post opening the session at $10.35, the shares hit an intraday low of $10.0701 and an intraday high of $10.4 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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.

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