In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Ardelyx Inc. (NASDAQ:ARDX) reported that Future Fund Board Of Guardians has picked up 3,436,426 of common stock as of 2017-01-18.
The acquisition brings the aggregate amount owned by Future Fund Board of Guardians to a total of 3,436,426 representing a 7.3% stake in the company.
For those not familiar with the company, Ardelyx, Inc. is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of minimally systemic therapeutic drugs that work in the gastrointestinal (GI) tract to treat GI and cardio-renal diseases. The Company operates through research, development and commercialization of biopharmaceutical products segment. It has discovered and designed its lead product candidate, tenapanor, which is a minimally systemic small molecule that acts locally in the GI tract to inhibit the sodium transporter sodium-hydrogen exchanger 3 (NHE3) and reduce sodium and phosphorus uptake from the gut. It is evaluating tenapanor in over two pivotal Phase III clinical studies in patients with constipation-predominant irritable bowel syndrome (IBS-C). It is developing RDX022 for the treatment of hyperkalemia.
A glance at Ardelyx Inc. (NASDAQ:ARDX)’s key stats reveals a current market capitalization of 690.34 million based on 47.30 million shares outstanding and a price at last close of $13.80 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-07-18, Weller picked up 763,650 at a purchase price of $8.73. This brings their total holding to 2,665,519 as of the date of the filing.
On the sell side, the most recent transaction saw Rosenbaum unload 900 shares at a sale price of $14.48. This brings their total holding to 636.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Ardelyx Inc. (NASDAQ:ARDX) as things move forward to see if its progress aligns with these transactions.
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