Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Short Interest Up 16.9% in March

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) was the target of a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 21,950,000 shares, a growth of 16.9% from the March 15th total of 18,770,000 shares. Approximately 14.5% of the shares of the stock are sold short. Based on an average trading volume of 4,770,000 shares, the short-interest ratio is presently 4.6 days.

Insider Buying and Selling

In other news, Director Jon R. Duane acquired 6,920 shares of Ironwood Pharmaceuticals stock in a transaction that occurred on Wednesday, March 6th. The shares were acquired at an average price of $8.70 per share, for a total transaction of $60,204.00. Following the transaction, the director now directly owns 121,028 shares of the company’s stock, valued at approximately $1,052,943.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Andrew Davis sold 9,846 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $15.24, for a total transaction of $150,053.04. Following the sale, the senior vice president now owns 208,324 shares in the company, valued at approximately $3,174,857.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jon R. Duane acquired 6,920 shares of Ironwood Pharmaceuticals stock in a transaction that occurred on Wednesday, March 6th. The shares were purchased at an average price of $8.70 per share, for a total transaction of $60,204.00. Following the transaction, the director now directly owns 121,028 shares in the company, valued at $1,052,943.60. The disclosure for this purchase can be found here. Insiders have sold 273,008 shares of company stock worth $4,160,642 in the last 90 days. Insiders own 13.10% of the company’s stock.

Institutional Trading of Ironwood Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of IRWD. Signaturefd LLC raised its stake in shares of Ironwood Pharmaceuticals by 61.4% in the fourth quarter. Signaturefd LLC now owns 2,160 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 822 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Ironwood Pharmaceuticals by 331.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 2,473 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 1,900 shares during the last quarter. Natixis purchased a new stake in shares of Ironwood Pharmaceuticals in the fourth quarter worth approximately $30,000. China Universal Asset Management Co. Ltd. raised its stake in shares of Ironwood Pharmaceuticals by 96.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 3,997 shares of the biotechnology company’s stock worth $38,000 after purchasing an additional 1,961 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Ironwood Pharmaceuticals by 41.4% in the second quarter. PNC Financial Services Group Inc. now owns 3,647 shares of the biotechnology company’s stock valued at $39,000 after acquiring an additional 1,067 shares in the last quarter.

Ironwood Pharmaceuticals Stock Down 1.1 %

Shares of Ironwood Pharmaceuticals stock opened at $7.79 on Tuesday. The company has a market cap of $1.22 billion, a PE ratio of -1.20 and a beta of 0.55. Ironwood Pharmaceuticals has a 52 week low of $7.71 and a 52 week high of $15.70. The business has a 50 day moving average price of $10.78 and a 200-day moving average price of $10.77.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. StockNews.com lowered Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, April 6th. Piper Sandler upped their price target on Ironwood Pharmaceuticals from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. Wells Fargo & Company reduced their price target on Ironwood Pharmaceuticals from $20.00 to $14.00 and set an “overweight” rating on the stock in a research report on Friday, March 1st. Finally, Craig Hallum assumed coverage on Ironwood Pharmaceuticals in a research report on Wednesday, January 17th. They issued a “buy” rating and a $21.00 price target on the stock. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Ironwood Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $19.80.

About Ironwood Pharmaceuticals

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.