CIBC Asset Management Inc Takes $53,000 Position in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

CIBC Asset Management Inc bought a new position in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 12,054 shares of the biotechnology company’s stock, valued at approximately $53,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. KBC Group NV lifted its stake in Ironwood Pharmaceuticals by 59.3% during the third quarter. KBC Group NV now owns 8,593 shares of the biotechnology company’s stock worth $35,000 after purchasing an additional 3,198 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in Ironwood Pharmaceuticals by 10.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 33,932 shares of the biotechnology company’s stock valued at $150,000 after buying an additional 3,209 shares during the last quarter. Creative Planning lifted its stake in Ironwood Pharmaceuticals by 12.7% in the third quarter. Creative Planning now owns 42,151 shares of the biotechnology company’s stock valued at $174,000 after buying an additional 4,749 shares during the last quarter. Quantinno Capital Management LP lifted its stake in Ironwood Pharmaceuticals by 40.0% in the third quarter. Quantinno Capital Management LP now owns 19,191 shares of the biotechnology company’s stock valued at $79,000 after buying an additional 5,482 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in Ironwood Pharmaceuticals by 3.0% in the fourth quarter. Rhumbline Advisers now owns 348,006 shares of the biotechnology company’s stock valued at $1,542,000 after buying an additional 10,041 shares during the last quarter.

Ironwood Pharmaceuticals Trading Down 1.4 %

NASDAQ:IRWD opened at $1.71 on Thursday. The firm has a market cap of $273.65 million, a P/E ratio of -57.00 and a beta of 0.29. The stock’s 50 day simple moving average is $3.26 and its 200-day simple moving average is $3.87. Ironwood Pharmaceuticals, Inc. has a 12-month low of $1.59 and a 12-month high of $15.26.

Insider Buying and Selling

In other Ironwood Pharmaceuticals news, CEO Thomas A. Mccourt sold 139,064 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $1.76, for a total value of $244,752.64. Following the sale, the chief executive officer now owns 1,160,634 shares of the company’s stock, valued at approximately $2,042,715.84. This represents a 10.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Michael Shetzline sold 41,269 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1.76, for a total value of $72,633.44. Following the completion of the sale, the chief marketing officer now directly owns 554,007 shares in the company, valued at $975,052.32. This trade represents a 6.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 192,381 shares of company stock valued at $338,591 over the last quarter. Company insiders own 12.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Craig Hallum reduced their price objective on Ironwood Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. JMP Securities reduced their price objective on Ironwood Pharmaceuticals from $23.00 to $14.00 and set a “market outperform” rating for the company in a research note on Thursday, January 30th. Finally, StockNews.com lowered Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $8.60.

Ironwood Pharmaceuticals 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.