Four Fresh Moves Disclosed by Two Top Performing Hedge Funds

In a newly-amended 13G filing, Steven Cohen’s family office reported owning 9.38 million Class A shares of Ironwood Pharmaceuticals Inc. (NASDAQ:IRWD) as of February 11. This is down from the stake of 10.32 million shares held on December 31, as disclosed by a separate 13G filing. The freshly-cut stake accounts for 7.4% of the company’s outstanding common stock. The entrepreneurial pharmaceutical company has one marketed product at the moment, called linaclotide, which was approved by the FDA in August 2012 for the treatment of irritable bowel syndrome with constipation (IBS-C) or chronic idiopathic constipation (CIC). This product is available in the U.S. and Mexico under the name LINZESS and available in several European countries and Canada under the name CONSTELLA. According to fresh estimates, LINZESS U.S. net sales totaled roughly $450 million in 2015, which marked an increase of more than 50% year-over-year. Just recently, Ironwood Pharmaceuticals Inc. (NASDAQ:IRWD) released a set of operational and financial goals for the upcoming years, which include the commercialization of new products, and the growth of cash flows. More specifically, the company aims at reaching LINZESS annual net sales of at least $1 billion through the end of 2020 and bringing at least two internal product candidates to the market. In the meantime, Ironwood shares are down 45% over the past one-year period. Jim Simons’ Renaissance Technologies LLC was bullish on Ironwood Pharmaceuticals Inc. (NASDAQ:IRWD) during the final quarter of 2015, as it boosted its stake in the pharmaceutical company by 211,300 shares to 242,553 shares.