Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Sees Large Growth in Short Interest

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD - Get Free Report) saw a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 10,750,000 shares, a growth of 13.8% from the January 15th total of 9,450,000 shares. Approximately 6.9% of the company's shares are sold short. Based on an average trading volume of 2,880,000 shares, the short-interest ratio is presently 3.7 days.

Ironwood Pharmaceuticals Trading Down 1.8 %

Shares of Ironwood Pharmaceuticals stock traded down $0.04 during trading hours on Thursday, reaching $1.91. 1,433,479 shares of the company's stock were exchanged, compared to its average volume of 3,662,183. The company has a 50 day moving average of $3.43 and a two-hundred day moving average of $4.00. Ironwood Pharmaceuticals has a fifty-two week low of $1.59 and a fifty-two week high of $15.26. The stock has a market cap of $304.85 million, a P/E ratio of -63.50 and a beta of 0.29.

Insider Buying and Selling at Ironwood Pharmaceuticals

In other Ironwood Pharmaceuticals news, CEO Thomas A. Mccourt sold 139,064 shares of the company's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1.76, for a total transaction of $244,752.64. Following the completion of the sale, the chief executive officer now owns 1,160,634 shares in the company, valued at approximately $2,042,715.84. The trade was a 10.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CMO Michael Shetzline sold 41,269 shares of the company's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1.76, for a total transaction of $72,633.44. Following the sale, the chief marketing officer now owns 554,007 shares of the company's stock, valued at $975,052.32. The trade was a 6.93 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 192,381 shares of company stock worth $338,591. Insiders own 12.90% of the company's stock.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

A number of large investors have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Ironwood Pharmaceuticals in the 4th quarter valued at about $36,000. KBC Group NV lifted its position in 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 acquired a new stake in Ironwood Pharmaceuticals during the fourth quarter worth approximately $45,000. Catalyst Funds Management Pty Ltd acquired a new stake in Ironwood Pharmaceuticals during the fourth quarter worth approximately $47,000. Finally, Envestnet Asset Management Inc. acquired a new stake in Ironwood Pharmaceuticals during the fourth quarter worth approximately $50,000.

Wall Street Analysts Forecast Growth

IRWD has been the subject of a number of recent analyst reports. JMP Securities lowered their price objective 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. StockNews.com cut shares of Ironwood Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, November 12th. Finally, Craig Hallum lowered their price objective on shares of Ironwood Pharmaceuticals from $10.00 to $8.00 and set a "buy" rating for the company in a research report on Wednesday, January 22nd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Ironwood Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus price target of $8.60.

Ironwood Pharmaceuticals Company 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.