MetLife Investment Management LLC Has $727,000 Stock Position in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

Posted by on Mar 2nd, 2023

MetLife Investment Management LLC trimmed its holdings in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD – Get Rating) by 7.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 70,128 shares of the biotechnology company’s stock after selling 6,005 shares during the quarter. MetLife Investment Management LLC’s holdings in Ironwood Pharmaceuticals were worth $727,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Quadrant Capital Group LLC increased its holdings in shares of Ironwood Pharmaceuticals by 2,065.5% during the 3rd quarter. Quadrant Capital Group LLC now owns 3,768 shares of the biotechnology company’s stock valued at $39,000 after acquiring an additional 3,594 shares during the last quarter. Gladius Capital Management LP bought a new position in shares of Ironwood Pharmaceuticals in the second quarter valued at approximately $55,000. Lazard Asset Management LLC acquired a new stake in shares of Ironwood Pharmaceuticals in the first quarter worth $78,000. Captrust Financial Advisors boosted its holdings in shares of Ironwood Pharmaceuticals by 441.7% during the 2nd quarter. Captrust Financial Advisors now owns 6,690 shares of the biotechnology company’s stock worth $77,000 after buying an additional 5,455 shares during the period. Finally, Quantbot Technologies LP acquired a new position in Ironwood Pharmaceuticals in the 1st quarter valued at $109,000.

Ironwood Pharmaceuticals Price Performance

Shares of Ironwood Pharmaceuticals stock opened at $11.39 on Thursday. The firm has a fifty day moving average price of $11.64 and a two-hundred day moving average price of $11.32. Ironwood Pharmaceuticals, Inc. has a fifty-two week low of $9.73 and a fifty-two week high of $12.95. The company has a market cap of $1.76 billion, a PE ratio of 11.74 and a beta of 0.94.

Ironwood Pharmaceuticals (NASDAQ:IRWD – Get Rating) last released its earnings results on Thursday, February 16th. The biotechnology company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). The firm had revenue of $107.20 million for the quarter, compared to analyst estimates of $108.23 million. Ironwood Pharmaceuticals had a return on equity of 30.49% and a net margin of 42.64%. The firm’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same period last year, the business earned $0.27 earnings per share. Analysts expect that Ironwood Pharmaceuticals, Inc. will post 1.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Ironwood Pharmaceuticals news, insider Ronald Silver sold 2,929 shares of the business’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $11.41, for a total value of $33,419.89. Following the sale, the insider now owns 101,540 shares of the company’s stock, valued at approximately $1,158,571.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Ronald Silver sold 2,929 shares of the company’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $11.41, for a total value of $33,419.89. Following the sale, the insider now owns 101,540 shares of the company’s stock, valued at $1,158,571.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Jason Rickard sold 16,746 shares of the firm’s stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $11.41, for a total transaction of $191,071.86. Following the transaction, the chief operating officer now owns 350,077 shares of the company’s stock, valued at approximately $3,994,378.57. The disclosure for this sale can be found here. Insiders sold a total of 171,860 shares of company stock valued at $2,034,158 over the last ninety days. 13.10% of the stock is owned by company insiders.

Analyst Ratings Changes

Separately, StockNews.com downgraded Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 17th.

Ironwood Pharmaceuticals Company Profile

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Ironwood Pharmaceuticals, Inc is a healthcare company, which focuses on the development and commercialization of Gastrointestinal (GI) product opportunities in areas of significant unmet need, leveraging demonstrated expertise and capabilities in GI diseases. Its products include linaclotide, a guanylate cyclase type-C agonists which treats patients irritable bowel syndrome with constipation and chronic constipation.

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Institutional Ownership by Quarter for Ironwood Pharmaceuticals (NASDAQ:IRWD)

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