Virtu Financial LLC Takes $78,000 Position in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

Virtu Financial LLC acquired a new position in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 18,962 shares of the biotechnology company’s stock, valued at approximately $78,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. KBC Group NV increased its position in Ironwood Pharmaceuticals by 59.3% in the 3rd 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. Wolverine Trading LLC acquired a new position in Ironwood Pharmaceuticals in the third quarter worth approximately $51,000. Diversified Trust Co bought a new position in Ironwood Pharmaceuticals during the third quarter valued at approximately $52,000. Legacy Capital Group California Inc. acquired a new stake in Ironwood Pharmaceuticals in the third quarter valued at approximately $59,000. Finally, First Dallas Securities Inc. bought a new stake in Ironwood Pharmaceuticals in the second quarter worth approximately $73,000.

Insiders Place Their Bets

In related news, CFO Sravan Kumar Emany sold 11,001 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $4.08, for a total value of $44,884.08. Following the completion of the sale, the chief financial officer now owns 309,572 shares in the company, valued at approximately $1,263,053.76. This trade represents a 3.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 12.90% of the company’s stock.

Ironwood Pharmaceuticals Stock Performance

Shares of NASDAQ:IRWD opened at $3.88 on Friday. The stock’s 50-day moving average is $3.97 and its 200-day moving average is $4.94. Ironwood Pharmaceuticals, Inc. has a 52-week low of $3.06 and a 52-week high of $15.70. The company has a market cap of $620.91 million, a P/E ratio of -129.33 and a beta of 0.41.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its quarterly earnings data on Thursday, November 7th. The biotechnology company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.07). Ironwood Pharmaceuticals had a negative net margin of 0.65% and a negative return on equity of 0.96%. The business had revenue of $91.60 million during the quarter, compared to the consensus estimate of $91.22 million. During the same period in the prior year, the company posted $0.12 earnings per share. The firm’s revenue was down 19.4% compared to the same quarter last year. As a group, equities analysts predict that Ironwood Pharmaceuticals, Inc. will post 0.08 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on IRWD shares. Leerink Partnrs raised shares of Ironwood Pharmaceuticals to a “hold” rating in a research note on Monday, September 9th. StockNews.com cut Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. Finally, Leerink Partners assumed coverage on 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 analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $10.40.

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.