Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lowered its stake in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 26.6% in the fourth quarter, HoldingsChannel reports. The firm owned 38,500 shares of the biotechnology company’s stock after selling 13,940 shares during the quarter. New York State Teachers Retirement System’s holdings in Ironwood Pharmaceuticals were worth $440,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in IRWD. Armistice Capital LLC acquired a new position in Ironwood Pharmaceuticals during the 3rd quarter valued at approximately $33,281,000. State Street Corp boosted its position in Ironwood Pharmaceuticals by 31.2% during the 2nd quarter. State Street Corp now owns 10,886,805 shares of the biotechnology company’s stock worth $125,525,000 after acquiring an additional 2,589,738 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in Ironwood Pharmaceuticals during the 3rd quarter worth $22,903,000. Millennium Management LLC boosted its position in Ironwood Pharmaceuticals by 121.0% during the 4th quarter. Millennium Management LLC now owns 3,989,942 shares of the biotechnology company’s stock worth $49,435,000 after acquiring an additional 2,184,767 shares during the period. Finally, Jupiter Asset Management Ltd. boosted its position in Ironwood Pharmaceuticals by 566.8% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 2,210,985 shares of the biotechnology company’s stock worth $21,292,000 after acquiring an additional 1,879,401 shares during the period.

Analyst Ratings Changes

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

Ironwood Pharmaceuticals Stock Performance

IRWD opened at $7.60 on Friday. Ironwood Pharmaceuticals, Inc. has a one year low of $7.53 and a one year high of $15.70. The stock’s fifty day moving average is $10.35 and its 200-day moving average is $10.72. The company has a market capitalization of $1.19 billion, a PE ratio of -1.17 and a beta of 0.55.

Insider Transactions at Ironwood Pharmaceuticals

In other news, CEO Thomas A. Mccourt sold 177,164 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 value of $2,699,979.36. Following the sale, the chief executive officer now owns 832,774 shares of the company’s stock, valued at approximately $12,691,475.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Jon R. Duane bought 6,920 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were bought at an average cost of $8.70 per share, with a total value of $60,204.00. Following the completion of the transaction, the director now directly owns 121,028 shares of the company’s stock, valued at $1,052,943.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas A. Mccourt sold 177,164 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 value of $2,699,979.36. Following the sale, the chief executive officer now directly owns 832,774 shares in the company, valued at $12,691,475.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 273,008 shares of company stock valued at $4,160,642. Corporate insiders own 13.10% of the company’s stock.

Ironwood Pharmaceuticals 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.