Traders Sell Relypsa Inc. (RLYP) on Strength (RLYP)
Investors sold shares of Relypsa Inc. (NASDAQ:RLYP) on strength during trading on Tuesday. $10.00 million flowed into the stock on the tick-up and $29.68 million flowed out of the stock on the tick-down, for a money net flow of $19.68 million out of the stock. Of all stocks tracked, Relypsa had the 0th highest net out-flow for the day. Relypsa traded up $0.11 for the day and closed at $31.94
RLYP has been the topic of a number of recent analyst reports. Morgan Stanley upgraded shares of Relypsa from an “underweight” rating to an “equal weight” rating and set a $9.00 price target on the stock in a report on Monday, May 23rd. Stifel Nicolaus restated a “buy” rating on shares of Relypsa in a report on Tuesday, June 28th. HC Wainwright restated a “buy” rating and set a $32.00 price target (down previously from $36.00) on shares of Relypsa in a report on Monday, May 9th. Zacks Investment Research upgraded shares of Relypsa from a “sell” rating to a “hold” rating in a report on Tuesday, May 10th. Finally, Brean Capital restated a “buy” rating and set a $26.00 price target on shares of Relypsa in a report on Sunday, April 17th. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Relypsa currently has an average rating of “Buy” and an average price target of $36.89.
The firm’s market capitalization is $1.43 billion. The company has a 50 day moving average of $22.19 and a 200-day moving average of $18.15.
Relypsa (NASDAQ:RLYP) last issued its quarterly earnings results on Wednesday, May 4th. The company reported ($1.26) EPS for the quarter, topping the consensus estimate of ($1.46) by $0.20. The business had revenue of $12.40 million for the quarter, compared to analyst estimates of $6.88 million. During the same quarter in the prior year, the firm earned ($0.78) EPS. On average, analysts predict that Relypsa Inc. will post ($5.99) EPS for the current fiscal year.
In related news, major shareholder Orbimed Advisors Llc sold 4,043,600 shares of the business’s stock in a transaction that occurred on 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 legal filing with the Securities & Exchange Commission, which is accessible through this link.
A number of hedge funds and institutional investors have recently modified their holdings of the stock. California Public Employees Retirement System purchased a new position in shares of Relypsa during the fourth quarter worth about $3,826,000. Royce & Associates LLC boosted its position in shares of Relypsa by 34.6% in the fourth quarter. Royce & Associates LLC now owns 407,700 shares of the company’s stock worth $11,554,000 after buying an additional 104,700 shares in the last quarter. Ashburton Jersey Ltd purchased a new position in shares of Relypsa during the fourth quarter worth about $1,725,000. ProShare Advisors LLC boosted its position in shares of Relypsa by 9.9% in the fourth quarter. ProShare Advisors LLC now owns 38,272 shares of the company’s stock worth $1,085,000 after buying an additional 3,445 shares in the last quarter. Finally, California State Teachers Retirement System boosted its position in shares of Relypsa by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 60,422 shares of the company’s stock worth $1,712,000 after buying an additional 1,084 shares in the last quarter.
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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