Geode Capital Increased its Stake in Ardelyx Last Quarter

According to a recent Form 13F filing submitted to the SEC, Geode Capital Management, LLC disclosed a noteworthy and bullish investment in ARDX stock. Here’s what you need to know about Ardelyx, Inc., as well as Geode Capital Management and their long position in shares of ARDX stock:

About Geode Capital Management, LLC

Boston, Massachusetts-based Geode Capital Management is a systematic asset manager providing core beta exposures across a range of equity and niche asset classes. Geode was founded in 2001 and set out to create structured and repeatable investment strategies with the objective of providing efficient exposures to institutional investors.

About Ardelyx, Inc. (ARDX)

Ardelyx, Inc., a biopharmaceutical company, discovers, develops, and commercializes medicines to treat gastrointestinal and cardiorenal therapeutic areas in the United States and internationally. The company’s lead product candidate is tenapanor, which has completed Phase III clinical trial for the treatment of patients with irritable bowel syndrome with constipation, as well as in Phase III clinical trial to control serum phosphorus in adult patients with chronic kidney disease (CKD)on dialysis, or hyperphosphatemia. It is also developing RDX013, a potassium secretagogue, for the treatment of elevated serum potassium, or hyperkalemia, a problem among certain patients with kidney and/or heart disease; and RDX020, an early-stage program in metabolic acidosis, a serious electrolyte disorder in patients with CKD. The company has agreements with Kyowa Kirin in Japan, Fosun Pharmaceutical Industrial Development Co. Ltd. in China, and Knight Therapeutics, Inc. in Canada for the development and commercialization of tenapanor in their respective territories. The company was formerly known as Nteryx, Inc. and changed its name to Ardelyx, Inc. in June 2008. Ardelyx, Inc. was incorporated in 2007 and is headquartered in Waltham, Massachusetts.

Geode Capital Management Buys Stock in ARDX

According to the most recent 13F filed by Geode Capital Management, the firm added 529,931 shares of ARDX stock to it holdings in the recent quarter. That brings their total long position in Ardelyx, Inc. to 1,438,267 shares, representing approximately 0.7672% of the 187,459,997 ARDX shares outstanding. Based on the most recent closing price of $1.25 per share of ARDX, the entire Geode Capital Management position in Ardelyx, Inc. is worth roughly $1,797,833.75.

Summary

Be sure to check out more recent 13F filings here to stay up to date on the latest disclosures from institutional investment managers like Geode Capital Management, LLC. Also be sure to check out more recent 13F filing analysis news here.