Ironwood Pharmaceuticals (NASDAQ:IRWD) has witnessed a drop of 4.4% or 672,093 shares in its short figure. The short interest diminution took it from 15,422,540 on May 31,2016 to 14,750,447 on June 15,2016. In terms of floated shares, the short interest was calculated to be 11.6%. The days to cover are 14 given that the daily volume averaged 1,042,410 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Ironwood Pharmaceuticals (NASDAQ:IRWD): The stock opened at $12.29 on Friday but the bulls could not build on the opening and the stock topped out at $12.55 for the day. The stock traded down to $12.04 during the day, due to lack of any buying support eventually closed down at $12.24 with a loss of -5.48% for the day. The stock had closed at $12.95 on the previous day. The total traded volume was 2,278,266 shares.
The company shares have rallied 5.61% from its 1 Year high price. On Jun 9, 2016, the shares registered one year high at $13.27 and the one year low was seen on Feb 8, 2016. The 50-Day Moving Average price is $12.06 and the 200 Day Moving Average price is recorded at $10.81.
Ironwood Pharmaceuticals (NASDAQ:IRWD) has tumbled 2.47% during the past week and has dropped 1.13% in the last 4 week period. The stocks have underperformed the S&P 500 by 0.85% during the past week but Ironwood Pharmaceuticals (NASDAQ:IRWD) it has outperformed the index in 4 weeks by 1.86%.
Ironwood Pharmaceuticals, Inc. is a pharmaceutical company. The Company has a product, linaclotide, which is available in the United States and Mexico under the brand name LINZESS, and is available in European countries and Canada under the brand name CONSTELLA. Linaclotide is also being developed and commercialized in other parts of the world by certain of its partners. Linaclotide provides patients and healthcare practitioners with a treatment option for adults in the United States and certain other countries with irritable bowel syndrome with constipation (IBS-C) and chronic idiopathic constipation (CIC) and gastrointestinal (GI) disorders. The Company in collaboration with Astellas Pharma Inc. (Astellas) is developing linaclotide for the treatment of patients with IBS-C.