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 $436,136 were sold by MCCOURT Thomas A on May 20 ’24. At $6.45 per share, MCCOURT Thomas A sold 67,618 shares. The insider’s holdings dropped to 1,150,330 shares worth approximately $6.97 million following the completion of this transaction.
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Also, Davis Andrew sold 22,725 shares, netting a total of over 146,576 in proceeds. Following the sale of shares at $6.45 each, the insider now holds 288,031 shares.
Before that, John Minardo had sold 17,404 shares from its account. In a trade valued at $112,256, the Chief Legal Officer traded Ironwood Pharmaceuticals Inc shares for $6.45 each. Upon closing the transaction, the insider’s holdings decreased to 17,404 shares, worth approximately $1.79 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 -8.73%. Over the course of the year, Ironwood Pharmaceuticals Inc shares have dropped approximately -47.03%. Shares of the company reached a 52-week high of $15.70 on 02/14/24 and a 52-week low of $6.04 on 05/23/24. A 50-day SMA is recorded $7.87, while a 200-day SMA reached $10.01. Nevertheless, trading volume fell to 2.61 million shares from 2.29 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 5.90, which, if violated, would cause prices to drop to 5.74. In the upper region, resistance lies at 6.36. The next price resistance is at 6.66. RSI (Relative Strength Index) is 28.87 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.47, which suggests the price will decrease in the coming days. Percent R is at 99.09%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
