California State Teachers Retirement System Raises Position in Relypsa Inc. (RLYP)
California State Teachers Retirement System increased its stake in shares of Relypsa Inc. (NASDAQ:RLYP) by 14.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,143 shares of the company’s stock after buying an additional 10,092 shares during the period. California State Teachers Retirement System owned approximately 0.18% of Relypsa worth $1,464,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its position in shares of Relypsa by 16.9% in the second quarter. Bank of New York Mellon Corp now owns 182,237 shares of the company’s stock valued at $3,370,000 after buying an additional 26,394 shares in the last quarter. Rice Hall James & Associates LLC raised its stake in Relypsa by 1.3% in the second quarter. Rice Hall James & Associates LLC now owns 132,850 shares of the company’s stock worth $2,458,000 after buying an additional 1,676 shares in the last quarter. Capital Fund Management S.A. acquired a new stake in Relypsa during the second quarter worth $371,000. Scopia Capital Management LP acquired a new stake in Relypsa during the first quarter worth $4,930,000. Finally, Deerfield Management Co. raised its stake in Relypsa by 108.1% in the first quarter. Deerfield Management Co. now owns 1,873,471 shares of the company’s stock worth $25,386,000 after buying an additional 973,190 shares in the last quarter.
Shares of Relypsa Inc. (NASDAQ:RLYP) remained flat at $31.99 during midday trading on Tuesday. Relypsa Inc. has a 52-week low of $10.26 and a 52-week high of $32.12. The stock has a 50-day moving average price of $30.31 and a 200-day moving average price of $20.28.
Relypsa (NASDAQ:RLYP) last announced its quarterly earnings results on Thursday, August 4th. The company reported ($1.87) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.56) by $0.31. The business had revenue of $5.22 million for the quarter, compared to analyst estimates of $5.45 million. On average, analysts predict that Relypsa Inc. will post ($6.33) earnings per share for the current fiscal year.
A number of equities research analysts recently weighed in on RLYP shares. Wedbush restated a “buy” rating and issued a $51.00 target price on shares of Relypsa in a report on Friday, June 10th. Cantor Fitzgerald restated a “buy” rating on shares of Relypsa in a report on Sunday, May 29th. Cowen and Company restated a “buy” rating on shares of Relypsa in a report on Sunday, May 29th. BTIG Research restated a “buy” rating and issued a $35.00 target price on shares of Relypsa in a report on Sunday, May 29th. Finally, HC Wainwright restated a “buy” rating and issued a $32.00 target price on shares of Relypsa in a report on Wednesday, June 1st. Twelve analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $35.87.
In other news, major shareholder Orbimed Advisors Llc sold 4,043,600 shares of Relypsa stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $32.00, for a total transaction of $129,395,200.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder James D. Dondero sold 37,000 shares of Relypsa stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $31.96, for a total transaction of $1,182,520.00. The disclosure for this sale can be found here.
Relypsa, Inc is a biopharmaceutical company. The Company is focused on the discovery, development and commercialization of polymer-based drugs to treat conditions that are often overlooked and undertreated, but that can have a serious impact on patients’ lives and even be life-threatening. The Company’s first drug candidate is Veltassa (patiromer) for oral suspension, or Veltassa, for the treatment of hyperkalemia.
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