Adage Capital Picks Up Massive Stake in ARDX Stock
According to a recent Form 13F filing submitted to the SEC, Adage Capital Partners GP, L.L.C. disclosed a noteworthy and bullish investment in ARDX stock. Here’s what you need to know about Ardelyx, Inc., as well as Adage Capital Partners GP, L.L.C. and their long position in shares of ARDX stock:
About Adage Capital Partners GP, L.L.C.
Adage Capital Partners GP is a hedge fund advisor with nearly $60 billion in assets under management affiliated with Boston, Massachusetts-based Adage Capital Management, L.P. that manages assets for endowments, foundations, and more.
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.
Adage Capital Partners GP, L.L.C. Buys Stock in ARDX
According to the most recent 13F filed by Adage Capital Partners Gp, L.L.C., the firm added 4,000,000 shares of ARDX stock to it holdings in the recent quarter. That brings their total long position in Ardelyx, Inc. to 4,000,000 shares, representing approximately 2.1338% of the 187,459,997 ARDX shares outstanding. Based on the most recent closing price of $1.25 per share of ARDX, the entire Adage Capital Partners GP position in Ardelyx, Inc. is worth roughly $5,000,000.00.
Be sure to check out more recent 13F filings here to stay up to date on the latest disclosures from institutional investment managers like Adage Capital Partners Gp, L.L.C.. Also be sure to check out more recent 13F filing analysis news here.