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 Price Performance

Shares of IRWD opened at $1.94 on Thursday. The business’s 50 day moving average is $3.63 and its 200 day moving average is $4.18. Ironwood Pharmaceuticals, Inc. has a 12-month low of $1.59 and a 12-month high of $15.70.

Institutional Investors Weigh In On Ironwood Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the stock. KBC Group NV boosted its position in shares of Ironwood Pharmaceuticals by 59.3% during the third quarter. KBC Group NV now owns 8,593 shares of the biotechnology company’s stock worth $35,000 after acquiring an additional 3,198 shares during the last quarter. Journey Strategic Wealth LLC purchased a new stake in Ironwood Pharmaceuticals in the 4th quarter worth $45,000. Catalyst Funds Management Pty Ltd bought a new position in shares of Ironwood Pharmaceuticals during the 4th quarter valued at about $47,000. Xponance Inc. bought a new position in shares of Ironwood Pharmaceuticals during the 4th quarter valued at about $50,000. Finally, Wolverine Trading LLC purchased a new position in shares of Ironwood Pharmaceuticals during the third quarter valued at about $51,000.

Analyst Ratings Changes

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

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.