Shares of Relypsa Inc (NASDAQ:RLYP) are trading down considerably for the second trading day in a row. Without any news from the company, today’s downtrend seems to have more to do with the overall market selloff that’s likely related to news coming of of North Korea about the detonation of a hydrogen bomb.
While shares of Relypsa Inc (NASDAQ:RLYP) are down from their highs seen at the end of November, the stock is up significantly over the last six weeks, and up over 120% since mid-Octover. As profit taking may be occurring, it will be interesting to see when the cleeding will stop. The stock is down 4.28% or $1.14 following the news, hitting $25.5 per share. Approximately 778,063 shares traded hands. RLYP shares have declined 23.47% since June 2, 2015 and are currently downtrending. It has underperformed the S&P500 by 18.78%.
From a total of 8 analysts covering Relypsa (NASDAQ:RLYP) stock, 7 rate it a “Buy”, 1 a “Sell”, and 0 a “Hold”. This means that 88% of the ratings are positive. The highest target price is $86 while the lowest target price is $15. The mean of all analyst targets is $52.17 which is 104.59% above today’s ($25.5) stock price. Relypsa was the topic of 11 analyst reports since July 30, 2015 according to the firm StockzIntelligence Inc. H.C. Wainwright initiated shares on December 17 with a “Buy” rating. Morgan Stanley initiated shares with a”Underweight” rating and a $15 target share price in their report from an August 13. Cantor Fitzgerald reinitiated RLYP stock in a recent report from October 26 with a “Buy” rating. Finally, Citigroup initiated the stock with a “Buy” rating in a report they issued on a September 3.
The institutional sentiment decreased to 1.42 in Q2 2015. It’s down 0.86, from 2.28 in 2015Q2. The ratio dived, as 26 funds sold all their Relypsa Inc shares they owned while 27 reduced their positions. 18 funds bought stakes while 57 increased their total positions. Institutions now own 36.63 million shares which is 2.92% more than the previous share count of 35.59 million in 2015Q2.
Great Point Partners Llc holds 5.63% of its total portfolio in Relypsa Inc, equating to 769,047 shares. Jhl Capital Group Llc owns 1.80 million shares representing 3.68% of their total US portfolio. Moreover, Perceptive Advisors Llc has 1.46% of their total portfolio invested in the company, equating to 987,942 shares. The New York-based Orbimed Advisors Llc has a total of 1.38% of their portfolio invested in the stock. New Leaf Venture Partners L.L.C., a New York-based fund reported 65,961 shares owned.
Since March 5, 2015, the stock had 1 buy, and 9 insider sales for a total of $5.05 million in net activity. Orbimed Advisors Llc bought 500,000 shares worth $6.28M. Ball Kristine M sold 646 shares worth $14,832. Lockey Claire sold 522 shares worth $12,888. Stahl Wilhelm sold 522 shares worth $12,894. The insider Orwin John A sold 5,000 shares worth $124,183.
Relypsa, Inc. is a biopharmaceutical firm focused on the development and commercialization of non-absorbed polymeric drugs to treat disorders in the areas of renal, cardiovascular and metabolic diseases. The company has a market cap of $1.11 billion. The Company’s lead product candidate, Patiromer for Oral Suspension is for the treatment of hyperkalemia, a life-threatening condition defined as abnormally elevated levels of potassium in the blood. It currently has negative earnings. The Company’s New Drug Application (NDA) for Patiromer FOS was accepted for filing by the United States Food and Drug Administration, or FDA.