E Fund Management Co. Ltd. Sells 24,755 Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

E Fund Management Co. Ltd. decreased its stake in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 51.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,342 shares of the biotechnology company’s stock after selling 24,755 shares during the period. E Fund Management Co. Ltd.’s holdings in Ironwood Pharmaceuticals were worth $152,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Old West Investment Management LLC increased its position in Ironwood Pharmaceuticals by 1.4% during the 4th quarter. Old West Investment Management LLC now owns 56,921 shares of the biotechnology company’s stock valued at $651,000 after purchasing an additional 761 shares during the period. Texas Permanent School Fund Corp increased its position in shares of Ironwood Pharmaceuticals by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 120,245 shares of the biotechnology company’s stock worth $1,047,000 after buying an additional 1,557 shares during the period. CWM LLC raised its stake in Ironwood Pharmaceuticals by 55.1% during the second quarter. CWM LLC now owns 6,600 shares of the biotechnology company’s stock worth $43,000 after buying an additional 2,345 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in Ironwood Pharmaceuticals by 3.5% in the second quarter. Louisiana State Employees Retirement System now owns 70,400 shares of the biotechnology company’s stock valued at $459,000 after buying an additional 2,400 shares during the period. Finally, SummerHaven Investment Management LLC boosted its position in Ironwood Pharmaceuticals by 3.6% during the second quarter. SummerHaven Investment Management LLC now owns 72,030 shares of the biotechnology company’s stock valued at $470,000 after acquiring an additional 2,491 shares during the last quarter.

Ironwood Pharmaceuticals Trading Down 0.2 %

IRWD opened at $4.51 on Friday. The company has a market cap of $705.95 million, a price-to-earnings ratio of -0.66 and a beta of 0.49. The company’s fifty day moving average price is $5.38 and its two-hundred day moving average price is $6.67. Ironwood Pharmaceuticals, Inc. has a 1-year low of $3.79 and a 1-year high of $15.70.

Insider Activity at Ironwood Pharmaceuticals

In other news, insider Minardo John sold 9,910 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $4.27, for a total value of $42,315.70. Following the completion of the sale, the insider now directly owns 284,661 shares of the company’s stock, valued at $1,215,502.47. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 12.90% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Wells Fargo & Company dropped their price objective on Ironwood Pharmaceuticals from $14.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Capital One Financial downgraded shares of Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $12.00 to $4.00 in a research report on Thursday, August 8th. Leerink Partnrs upgraded shares of Ironwood Pharmaceuticals to a “hold” rating in a research report on Monday, September 9th. StockNews.com upgraded shares of Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, July 16th. Finally, Leerink Partners initiated coverage on shares of Ironwood Pharmaceuticals in a report on Monday, September 9th. They set a “market perform” rating and a $5.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $13.57.

About Ironwood Pharmaceuticals

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.