Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its holdings in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 10.4% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 45,197 shares of the biotechnology company’s stock after selling 5,243 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Ironwood Pharmaceuticals were worth $186,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in Ironwood Pharmaceuticals by 21.8% during the 1st quarter. Vanguard Group Inc. now owns 19,521,366 shares of the biotechnology company’s stock valued at $170,031,000 after acquiring an additional 3,487,821 shares during the last quarter. Armistice Capital LLC increased its holdings in shares of Ironwood Pharmaceuticals by 44.4% in the second quarter. Armistice Capital LLC now owns 7,800,000 shares of the biotechnology company’s stock valued at $50,856,000 after purchasing an additional 2,400,000 shares during the period. Pacer Advisors Inc. raised its stake in shares of Ironwood Pharmaceuticals by 23.6% during the second quarter. Pacer Advisors Inc. now owns 8,907,639 shares of the biotechnology company’s stock worth $58,078,000 after purchasing an additional 1,701,452 shares during the last quarter. Kynam Capital Management LP acquired a new stake in shares of Ironwood Pharmaceuticals during the first quarter worth $14,154,000. Finally, Renaissance Technologies LLC grew its position in Ironwood Pharmaceuticals by 20.7% in the 2nd quarter. Renaissance Technologies LLC now owns 8,571,898 shares of the biotechnology company’s stock valued at $55,889,000 after buying an additional 1,472,097 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. StockNews.com upgraded shares of Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, July 16th. Capital One Financial cut Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $12.00 to $4.00 in a research report on Thursday, August 8th. Leerink Partners began coverage on Ironwood Pharmaceuticals in a report on Monday, September 9th. They issued a “market perform” rating and a $5.00 price target for the company. Craig Hallum dropped their price objective on Ironwood Pharmaceuticals from $14.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, Leerink Partnrs upgraded Ironwood Pharmaceuticals to a “hold” rating in a research report on Monday, September 9th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $12.17.

Insider Buying and Selling

In other Ironwood Pharmaceuticals news, insider Minardo John sold 9,910 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $4.27, for a total value of $42,315.70. Following the sale, the insider now owns 284,661 shares of the company’s stock, valued at approximately $1,215,502.47. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 12.90% of the stock is currently owned by insiders.

Ironwood Pharmaceuticals Price Performance

Shares of NASDAQ:IRWD opened at $4.19 on Monday. The firm has a market capitalization of $669.31 million, a price-to-earnings ratio of 104.75 and a beta of 0.47. The business’s 50 day simple moving average is $4.35 and its 200-day simple moving average is $5.69. Ironwood Pharmaceuticals, Inc. has a 12 month low of $3.79 and a 12 month high of $15.70.

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.