Selling Buzz: Ironwood Pharmaceuticals Inc. [IRWD] Chief Executive Officer MCCOURT Thomas A sells 26,446 shares of the company

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Ironwood Pharmaceuticals Inc. shares valued at $281,650 were sold by MCCOURT Thomas A on Sep 01. At $10.65 per share, MCCOURT Thomas A sold 26,446 shares. The insider’s holdings dropped to 731,339 shares worth approximately $7.63 million following the completion of this transaction.

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Also, Rickard Jason sold 994 shares, netting a total of over 11,699 in proceeds. Following the sale of shares at $11.77 each, the insider now holds 375,736 shares.

Before that, Silver Ronald had sold 2,014 shares from its account. In a trade valued at $23,705, the Principal Accounting Officer traded Ironwood Pharmaceuticals Inc. shares for $11.77 each. Upon closing the transaction, the insider’s holdings decreased to 2,014 shares, worth approximately $1.1 million.

As published in their initiating research note from CapitalOne on September 02, 2022, Ironwood Pharmaceuticals Inc. [IRWD] has been an Overweight and the price target has been revised to $15. This represents a 30.47% premium over Thursday’s closing price. Analysts at Piper Sandler started covering the stock with ‘”an Overweight”‘ outlook in a report released in late April. As of September 30, 2020, Wells Fargo has decreased its “an Overweight” rating to a “an Equal weight” for IRWD. Earlier on June 17, 2020, Northland Capital initiated its rating. Their recommendation was “an Outperform” for IRWD stock.

Analyzing IRWD’s Price Performance

On Thursday, Ironwood Pharmaceuticals Inc. [NASDAQ: IRWD] plunged -1.51% to $10.43. The stock’s lowest price that day was $10.36, but it reached a high of $10.55 in the same session. During the last five days, there has been a drop of approximately -4.40%. Over the course of the year, Ironwood Pharmaceuticals Inc. shares have dropped approximately -10.55%. Shares of the company reached a 52-week high of $12.95 on 03/30/22 and a 52-week low of $10.13 on 02/17/22. A 50-day SMA is recorded $11.37, while a 200-day SMA reached $11.55. Nevertheless, trading volume fell to 1.63 million shares from 1.84 million shares the previous day.

Support And Resistance Levels for Ironwood Pharmaceuticals Inc. (IRWD)

According to the 24-hour chart, there is a support level at 10.34, which, if violated, would cause prices to drop to 10.26. In the upper region, resistance lies at 10.53. The next price resistance is at 10.64. RSI (Relative Strength Index) is 35.11 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.21, which suggests the price will decrease in the coming days. Percent R is at 91.36%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Ironwood Pharmaceuticals Inc. subject to short interest?

Stocks of Ironwood Pharmaceuticals Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 3.43 million shares to 17.51 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 14.08 million shares. A jump of 19.59% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.96 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.96.

Which companies own the most shares of Ironwood Pharmaceuticals Inc. (IRWD)?

According to BlackRock Fund Advisors filings, the company currently owns 24,028,262 shares, which is about 15.68% of the total IRWD shares outstanding. The investor’s shares have appreciated by 12,378,174 from its previous 13-F filing of 11650088.0 shares. Wellington Management Co. LLP reduced a -1.74% interest valued at $160.52 million while The Vanguard Group, Inc. purchased a 1,184,945 stake. A total of -2,587,064 shares of Ironwood Pharmaceuticals Inc. were bought by Brown Capital Management LLC during the quarter, and 2,589,738 were bought by SSgA Funds Management, Inc.. In its current portfolio, LSV Asset Management holds 7,479,157 shares valued at $80.48 million.

In terms of Ironwood Pharmaceuticals Inc. share price expectations, FactSet research, analysts set an average price target of $13.20 in the next 12 months, up nearly 22.76% from the previous closing price of $10.59. Analysts anticipate Ironwood Pharmaceuticals Inc. stock to reach $16.00 by 2022, with the lowest price target being $9.00. In spite of this, 5 analysts ranked Ironwood Pharmaceuticals Inc. stock as an Overweight at the end of 2022.


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