Woodline Partners Adds Massive New Position in Ardelyx

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

About Woodline Partners LP

Woodline Partners is a San Francisco based investment firm that implements a fundamental sub-sector equity strategy. Woodline Partners has a tenured team with specialized experience covering North American, European and Asian markets. Their portfolio managers have a rigorous, bottom-up process, and an established network of corporate executive and industry relationships. Woodline aims to hedge out unpredictable factors and find clarity in company-specific details to assess the long-term competitiveness of companies under coverage.

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.

Woodline Partners Buys Stock in ARDX

According to the most recent 13F filed by Woodline Partners LP, the firm added 5,339,065 shares of ARDX stock to it holdings in the recent quarter. That brings their total long position in Ardelyx, Inc. to 5,339,065 shares, representing approximately 2.8481% of the 187,459,997 ARDX shares outstanding. Based on the most recent closing price of $1.25 per share of ARDX, the entire Woodline Partners position in Ardelyx, Inc. is worth roughly $6,673,831.25.

Summary

Woodline Partners is not the only institutional investment manager bullish on ARDX stock. Geode Capital noticeably increased its stake in the biopharma company last quarter. Be sure to check out more recent 13F filings here to stay up to date on the latest disclosures from institutional investment managers like Woodline Partners LP. Also be sure to check out more recent 13F filing analysis news here.