Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) CMO Sells $72,633.44 in Stock

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) CMO Michael Shetzline sold 41,269 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1.76, for a total value of $72,633.44. Following the sale, the chief marketing officer now directly owns 554,007 shares of the company’s stock, valued at $975,052.32. This represents a 6.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Ironwood Pharmaceuticals Stock Performance

IRWD stock opened at $1.92 on Friday. The company has a market capitalization of $307.25 million, a PE ratio of -64.00 and a beta of 0.29. The company’s fifty day moving average price is $3.57 and its 200-day moving average price is $4.15. Ironwood Pharmaceuticals, Inc. has a one year low of $1.59 and a one year high of $15.65.

Institutional Trading of Ironwood Pharmaceuticals

Hedge funds have recently bought and sold shares of the stock. Pacer Advisors Inc. increased its holdings in shares of Ironwood Pharmaceuticals by 4.0% in the fourth quarter. Pacer Advisors Inc. now owns 11,730,771 shares of the biotechnology company’s stock worth $51,967,000 after purchasing an additional 450,949 shares during the last quarter. State Street Corp boosted its position in shares of Ironwood Pharmaceuticals by 7.3% during the 3rd quarter. State Street Corp now owns 9,919,865 shares of the biotechnology company’s stock valued at $40,870,000 after acquiring an additional 677,024 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Ironwood Pharmaceuticals by 5.5% in the fourth quarter. Renaissance Technologies LLC now owns 9,066,241 shares of the biotechnology company’s stock valued at $40,163,000 after purchasing an additional 469,043 shares in the last quarter. Geode Capital Management LLC increased its position in Ironwood Pharmaceuticals by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 3,306,570 shares of the biotechnology company’s stock worth $14,652,000 after purchasing an additional 13,028 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Ironwood Pharmaceuticals by 4.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,983,240 shares of the biotechnology company’s stock valued at $8,786,000 after purchasing an additional 78,969 shares in the last quarter.

Analyst Upgrades and Downgrades

IRWD has been the subject of a number of recent research reports. Craig Hallum cut their price objective on Ironwood Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. JMP Securities reduced their price objective on shares of Ironwood Pharmaceuticals from $23.00 to $14.00 and set a “market outperform” rating for the company in a research note on Thursday, January 30th. Finally, StockNews.com downgraded shares of Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.67.

Ironwood Pharmaceuticals Company Profile

Ironwood Pharmaceuticals, Inc, a healthcare company, focuses on the development and commercialization of gastrointestinal (GI) products. It markets linaclotide, a guanylate cyclase type-C (GC-C) agonist for the treatment of adults suffering from irritable bowel syndrome with constipation or chronic idiopathic constipation under the LINZESS name in the United States, Mexico, Japan, Saudi Arabia, and China, as well as under the CONSTELLA name in the Canada and European countries.