Allspring Global Investments Holdings LLC Buys 42,091 Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

Allspring Global Investments Holdings LLC lifted its stake in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 645.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 48,616 shares of the biotechnology company’s stock after purchasing an additional 42,091 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Ironwood Pharmaceuticals were worth $556,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. grew its holdings in shares of Ironwood Pharmaceuticals by 96.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 3,997 shares of the biotechnology company’s stock valued at $38,000 after purchasing an additional 1,961 shares during the last quarter. Headlands Technologies LLC grew its holdings in shares of Ironwood Pharmaceuticals by 396.5% during the 3rd quarter. Headlands Technologies LLC now owns 6,737 shares of the biotechnology company’s stock valued at $65,000 after purchasing an additional 5,380 shares during the last quarter. Mackenzie Financial Corp grew its holdings in shares of Ironwood Pharmaceuticals by 21.5% during the 3rd quarter. Mackenzie Financial Corp now owns 12,713 shares of the biotechnology company’s stock valued at $123,000 after purchasing an additional 2,253 shares during the last quarter. Aigen Investment Management LP bought a new stake in shares of Ironwood Pharmaceuticals during the 3rd quarter valued at approximately $129,000. Finally, Xponance Inc. bought a new stake in shares of Ironwood Pharmaceuticals during the 3rd quarter valued at approximately $144,000.

Ironwood Pharmaceuticals Stock Performance

Shares of NASDAQ IRWD opened at $8.08 on Friday. The company has a market capitalization of $1.26 billion, a P/E ratio of -1.24 and a beta of 0.55. Ironwood Pharmaceuticals, Inc. has a 52-week low of $7.53 and a 52-week high of $15.70. The company’s 50 day moving average price is $9.64 and its 200-day moving average price is $10.66.

Insider Transactions at Ironwood Pharmaceuticals

In other news, CMO Michael Shetzline sold 38,618 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $15.24, for a total value of $588,538.32. Following the transaction, the chief marketing officer now owns 340,484 shares in the company, valued at approximately $5,188,976.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Thomas A. Mccourt sold 177,164 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $15.24, for a total value of $2,699,979.36. Following the transaction, the chief executive officer now owns 832,774 shares in the company, valued at approximately $12,691,475.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Michael Shetzline sold 38,618 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $15.24, for a total transaction of $588,538.32. Following the transaction, the chief marketing officer now owns 340,484 shares in the company, valued at approximately $5,188,976.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 273,008 shares of company stock worth $4,160,642. Company insiders own 13.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Craig Hallum assumed coverage on shares of Ironwood Pharmaceuticals in a research report on Wednesday, January 17th. They set a “buy” rating and a $21.00 target price on the stock. StockNews.com downgraded shares of Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, April 6th. Wells Fargo & Company cut their target price on shares of Ironwood Pharmaceuticals from $20.00 to $14.00 and set an “overweight” rating on the stock in a research report on Friday, March 1st. Finally, Piper Sandler lifted their target price on shares of Ironwood Pharmaceuticals from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Friday, February 16th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $19.80.

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.