The Vanguard Group, Inc. recently announced the acquisition of new stake in Ironwood Pharmaceuticals Inc (NASDAQ:IRWD). The institutional investor has increased its shareholding in the Healthcare company by 10.10% to 16.03 million shares with purchase of 1.47 million shares. This fresh investment now brings its stake to 10.27% valued currently at $183.42 million. In addition, SSgA Funds Management, Inc. raised its holdings by 0.97 million to 12.0 million shares. And Renaissance Technologies LLC has lifted its position by 9.03% or 0.48 million shares – to 5.8 million shares.
Currently, there are 154.03M common shares owned by the public and among those 152.50M shares have been available to trade.
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Insiders at the company have transacted a total of 48 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 20 of these insider trades were purchases, accounting for 811,407 shares. Insider sales of the common stock occurred on 28 occasions, with total insider shares sold totaling 326,952 shares.
The top 3 mutual fund holders in Ironwood Pharmaceuticals Inc are iShares Core S&P Small Cap ETF, SPDR S&P Biotech ETF, and Vanguard Total Stock Market ETF. iShares Core S&P Small Cap ETF owns 9.2 million shares of the company’s stock, all valued at over $105.2 million. The company sold 43104.0 shares recently to bring their total holdings to about 5.89% of the shares outstanding. SPDR S&P Biotech ETF sold 60120.0 shares to see its total holdings shrink to 6.23 million shares valued at over $71.22 million and representing 3.99% of the shares outstanding. Vanguard Total Stock Market ETF bought 8999.0 shares to bring its total holdings to over 4.18 million shares at a value of $47.76 million. Vanguard Total Stock Market ETF now owns shares totaling to 2.67% of the shares outstanding.
However, the script later moved the day high at 13.54, up 2.59%. The company’s stock has a 5-day price change of 14.82% and 46.05% over the past three months. IRWD shares are trading 17.83% year to date (YTD), with the 12-month market performance up to 18.14% higher. It has a 12-month low price of $8.07 and touched a high of $13.17 over the same period. IRWD has an average intraday trading volume of 2.40 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 11.52%, 23.68%, and 30.90% respectively.
Institutional ownership of Ironwood Pharmaceuticals Inc (NASDAQ: IRWD) shares accounts for 107.28% of the company’s 154.03M shares outstanding. Mutual fund holders own 50.72%, while other institutional holders and individual stakeholders account for 56.54% and 22.59% respectively.
It has a market capitalization of $2.10B and a beta (3y monthly) value of 0.65. The earnings-per-share (ttm) stands at -$6.24. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.40% over the week and 3.72% over the month.
Analysts forecast that Ironwood Pharmaceuticals Inc (IRWD) will achieve an EPS of $0.2 for the current quarter, $0.15 for the next quarter and $0.79 for 2024. The lowest estimate earnings-per-share for the quarter is $0.13 while analysts give the company a high EPS estimate of $0.39. Comparatively, EPS for the current quarter was $0.27 a year ago. Earnings per share for the fiscal year are expected to decrease by -708.85%, and 112.77% over the next financial year.
Looking at the support for the IRWD, a number of firms have released research notes about the stock. Craig Hallum stated their Buy rating for the stock in a research note on January 17, 2024, with the firm’s price target at $21.
