JPMorgan Chase & Co. cut its stake in shares of Relypsa Inc. (NASDAQ:RLYP) by 25.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 280,235 shares of the company’s stock after selling 97,812 shares during the period. JPMorgan Chase & Co. owned 0.62% of Relypsa worth $5,185,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Societe Generale purchased a new position in shares of Relypsa during the second quarter worth $133,000. Janney Montgomery Scott LLC bought a new position in Relypsa during the second quarter valued at about $262,000. Legal & General Group Plc raised its position in Relypsa by 15.4% in the first quarter. Legal & General Group Plc now owns 9,448 shares of the company’s stock valued at $127,000 after buying an additional 1,263 shares during the last quarter. Capital Fund Management S.A. bought a new position in Relypsa during the second quarter valued at about $371,000. Finally, State Board of Administration of Florida Retirement System raised its position in Relypsa by 39.2% in the second quarter. State Board of Administration of Florida Retirement System now owns 21,382 shares of the company’s stock valued at $396,000 after buying an additional 6,016 shares during the last quarter.
Shares of Relypsa Inc. (NASDAQ:RLYP) remained flat at $31.99 during mid-day trading on Thursday. 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 released its quarterly earnings data on Thursday, August 4th. The company reported ($1.87) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.56) by $0.31. The business earned $5.22 million during the quarter, compared to analyst estimates of $5.45 million. On average, equities research analysts forecast that Relypsa Inc. will post ($6.33) EPS for the current fiscal year.
RLYP has been the subject of a number of research analyst reports. Stifel Nicolaus restated a “buy” rating on shares of Relypsa in a research note on Tuesday, June 28th. BTIG Research reiterated a “buy” rating and set a $35.00 price objective on shares of Relypsa in a research note on Wednesday, June 29th. Cantor Fitzgerald reiterated a “hold” rating and set a $32.00 price objective on shares of Relypsa in a research note on Monday, August 8th. Brean Capital cut Relypsa from a “buy” rating to a “hold” rating in a research note on Thursday, July 21st. Finally, Morgan Stanley reiterated an “underweight” rating and set a $9.00 price objective on shares of Relypsa in a research note on Tuesday, July 12th. Twelve research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Relypsa currently has an average rating of “Hold” and an average price target of $35.87.
In other Relypsa news, major shareholder Orbimed Advisors Llc sold 4,043,600 shares of Relypsa stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $32.00, for a total transaction of $129,395,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 value of $1,182,520.00. The disclosure for this sale can be found here.
Relypsa Company Profile
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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