QRG Capital Management Inc. Sells 9,851 Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

QRG Capital Management Inc. reduced its stake in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWDFree Report) by 3.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 258,971 shares of the biotechnology company’s stock after selling 9,851 shares during the period. QRG Capital Management Inc. owned 0.17% of Ironwood Pharmaceuticals worth $2,963,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Signaturefd LLC raised its position 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 valued at $25,000 after purchasing an additional 822 shares during the period. Daiwa Securities Group Inc. boosted its stake in Ironwood Pharmaceuticals by 331.6% during the 4th quarter. Daiwa Securities Group Inc. now owns 2,473 shares of the biotechnology company’s stock valued at $29,000 after purchasing an additional 1,900 shares during the period. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Ironwood Pharmaceuticals by 96.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 3,997 shares of the biotechnology company’s stock worth $38,000 after buying an additional 1,961 shares during the last quarter. Headlands Technologies LLC boosted its position in shares of Ironwood Pharmaceuticals by 396.5% in the third quarter. Headlands Technologies LLC now owns 6,737 shares of the biotechnology company’s stock valued at $65,000 after acquiring an additional 5,380 shares during the period. Finally, Mackenzie Financial Corp grew its stake in shares of Ironwood Pharmaceuticals by 21.5% in the third quarter. Mackenzie Financial Corp now owns 12,713 shares of the biotechnology company’s stock worth $123,000 after acquiring an additional 2,253 shares during the last quarter.

Insiders Place Their Bets

In other news, Director Jon R. Duane acquired 6,920 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was purchased at an average cost of $8.70 per share, with a total value of $60,204.00. Following the acquisition, the director now 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 SEC, which can be accessed through the SEC website. In other Ironwood Pharmaceuticals news, CFO Sravan Kumar Emany acquired 10,684 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were acquired at an average price of $9.38 per share, with a total value of $100,215.92. Following the purchase, the chief financial officer now owns 301,733 shares of the company’s stock, valued at approximately $2,830,255.54. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jon R. Duane acquired 6,920 shares of the business’s stock in a transaction dated 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 acquisition, 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. Company insiders own 13.10% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Wells Fargo & Company decreased their price target on shares of Ironwood Pharmaceuticals from $20.00 to $14.00 and set an “overweight” rating on the stock in a research report on Friday, March 1st. StockNews.com cut Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, April 6th. Piper Sandler lifted their price objective on Ironwood Pharmaceuticals from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. Finally, Craig Hallum reduced their target price on Ironwood Pharmaceuticals from $18.00 to $14.00 and set a “buy” rating for the company in a research report on Friday. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $18.40.

View Our Latest Report on IRWD

Ironwood Pharmaceuticals Stock Performance

Shares of NASDAQ:IRWD opened at $6.69 on Tuesday. The company has a market capitalization of $1.05 billion, a PE ratio of -0.99 and a beta of 0.57. The company’s fifty day moving average is $8.30 and its 200-day moving average is $10.56. Ironwood Pharmaceuticals, Inc. has a 52 week low of $6.21 and a 52 week high of $15.70.

Ironwood Pharmaceuticals (NASDAQ:IRWDGet Free Report) last issued its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.20). The firm had revenue of $74.90 million for the quarter, compared to the consensus estimate of $105.75 million. Ironwood Pharmaceuticals had a negative return on equity of 28.45% and a negative net margin of 254.41%. Ironwood Pharmaceuticals’s quarterly revenue was down 28.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.25 earnings per share. On average, analysts forecast that Ironwood Pharmaceuticals, Inc. will post 0.67 EPS for the current year.

Ironwood Pharmaceuticals Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Ironwood Pharmaceuticals (NASDAQ:IRWD)

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