SummerHaven Investment Management LLC Buys 2,491 Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

SummerHaven Investment Management LLC increased its stake in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 3.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 72,030 shares of the biotechnology company’s stock after buying an additional 2,491 shares during the quarter. SummerHaven Investment Management LLC’s holdings in Ironwood Pharmaceuticals were worth $470,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IRWD. Vanguard Group Inc. increased its position in shares of Ironwood Pharmaceuticals by 21.8% during the first 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 in the last quarter. Armistice Capital LLC grew its position in Ironwood Pharmaceuticals by 64.9% in the 4th quarter. Armistice Capital LLC now owns 5,700,000 shares of the biotechnology company’s stock worth $65,208,000 after purchasing an additional 2,244,000 shares during the period. Kynam Capital Management LP purchased a new stake in Ironwood Pharmaceuticals during the 1st quarter valued at $14,154,000. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Ironwood Pharmaceuticals by 40.8% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 4,235,580 shares of the biotechnology company’s stock valued at $36,892,000 after buying an additional 1,226,377 shares during the period. Finally, Hodges Capital Management Inc. purchased a new position in shares of Ironwood Pharmaceuticals in the 1st quarter worth $7,521,000.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on IRWD. Capital One Financial cut Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $12.00 to $4.00 in a research report on Thursday, August 8th. Craig Hallum lowered their price objective on shares of Ironwood Pharmaceuticals from $14.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. StockNews.com upgraded shares of Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Tuesday, July 16th. Finally, Wells Fargo & Company reduced their target price on shares of Ironwood Pharmaceuticals from $14.00 to $12.00 and set an “overweight” rating for the company in a report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $15.00.

Insiders Place Their Bets

In other news, insider Minardo John sold 9,910 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $4.27, for a total value of $42,315.70. Following the transaction, the insider now owns 284,661 shares of the company’s stock, valued at $1,215,502.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Ironwood Pharmaceuticals news, insider Minardo John sold 9,910 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $4.27, for a total transaction of $42,315.70. Following the completion of the transaction, the insider now owns 284,661 shares in the company, valued at approximately $1,215,502.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Julie Mchugh sold 22,766 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $6.29, for a total value of $143,198.14. Following the transaction, the director now owns 139,528 shares of the company’s stock, valued at $877,631.12. The disclosure for this sale can be found here. Insiders sold 77,102 shares of company stock worth $468,063 in the last three months. 12.90% of the stock is owned by company insiders.

Ironwood Pharmaceuticals Price Performance

Shares of NASDAQ:IRWD traded up $0.17 during trading on Friday, hitting $4.86. 224,927 shares of the company’s stock were exchanged, compared to its average volume of 3,391,430. The business’s 50-day simple moving average is $5.98 and its 200 day simple moving average is $8.02. The company has a market cap of $760.73 million, a price-to-earnings ratio of -0.69 and a beta of 0.52. Ironwood Pharmaceuticals, Inc. has a 52-week low of $3.79 and a 52-week high of $15.70.

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.