Ra Capital Management buys $23,188,848 stake in Ardelyx Inc (ARDX)

Ardelyx Inc (ARDX) : Ra Capital Management scooped up 1,729,037 additional shares in Ardelyx Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 2,300,481 shares of Ardelyx Inc which is valued at $23,188,848.Ardelyx Inc makes up approximately 2.69% of Ra Capital Management’s portfolio.

Other Hedge Funds, Including , Spark Investment Management sold out all of its stake in ARDX during the most recent quarter. The investment firm sold 54,500 shares of ARDX which is valued $549,360.Tiaa Cref Investment Management boosted its stake in ARDX in the latest quarter, The investment management firm added 12,916 additional shares and now holds a total of 71,759 shares of Ardelyx Inc which is valued at $723,331.Blackrock Fund Advisors boosted its stake in ARDX in the latest quarter, The investment management firm added 9,282 additional shares and now holds a total of 1,033,233 shares of Ardelyx Inc which is valued at $10,414,989.California State Teachers Retirement System boosted its stake in ARDX in the latest quarter, The investment management firm added 992 additional shares and now holds a total of 47,997 shares of Ardelyx Inc which is valued at $501,089.

Ardelyx Inc opened for trading at $9.93 and hit $10.41 on the upside on Thursday, eventually ending the session at $10.32, with a gain of 3.51% or 0.35 points. The heightened volatility saw the trading volume jump to 2,50,534 shares. Company has a market cap of $488 M.

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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