The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Ironwood Pharmaceuticals Inc shares valued at $60,204 were purchased by Duane Jon R on Mar 06 ’24. At $8.70 per share, Duane Jon R acquired 6,920 shares. The insider’s holdings grew to 121,028 shares worth approximately $0.97 million following the completion of this transaction.
Also, Emany Sravan Kumar purchased 10,684 shares, netting a total of over 100,216 in proceeds. Following the buying of shares at $9.38 each, the insider now holds 301,733 shares.
Before that, MCCOURT Thomas A had sold 177,164 shares from its account. In a trade valued at $2,699,979, the Chief Executive Officer traded Ironwood Pharmaceuticals Inc shares for $15.24 each. Upon closing the transaction, the insider’s holdings decreased to 177,164 shares, worth approximately $6.67 million.
As published in their initiating research note from Craig Hallum on January 17, 2024, Ironwood Pharmaceuticals Inc [IRWD] has been a Buy and the price target has been revised to $21. Analysts at Wells Fargo started covering the stock with ‘”an Overweight”‘ outlook in a report released in mid December. As of November 09, 2023, Jefferies has initiated its “Buy” rating for IRWD. Earlier on September 28, 2023, JMP Securities initiated its rating. Their recommendation was “a Mkt outperform” for IRWD stock.
Analyzing IRWD Stock Performance
During the last five days, there has been a drop of approximately -1.72%. Over the course of the year, Ironwood Pharmaceuticals Inc shares have dropped approximately -29.98%. Shares of the company reached a 52-week high of $15.70 on 02/14/24 and a 52-week low of $7.79 on 04/08/24. A 50-day SMA is recorded $11.17, while a 200-day SMA reached $10.48. Nevertheless, trading volume fell to 2.38 million shares from 1.82 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 7.90, which, if violated, would cause prices to drop to 7.80. In the upper region, resistance lies at 8.11. The next price resistance is at 8.22. RSI (Relative Strength Index) is 30.20 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.26, which suggests the price will decrease in the coming days. Percent R is at 83.21%, indicating bearish price movement. Stochastics %K at buying 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 Mar 15, 2024 jumping by 3.17 million shares to 18.77 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 15.6 million shares. A jump of 16.89% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.46 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.46.
