State Street Lowers Passive Stake in Ironwood Pharma to 6.4%
Ticker: IRWD · Form: SC 13G/A · Filed: Jan 25, 2024 · CIK: 1446847
| Field | Detail |
|---|---|
| Company | Ironwood Pharmaceuticals Inc (IRWD) |
| Form Type | SC 13G/A |
| Filed Date | Jan 25, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, passive-investing, ownership-change
TL;DR
**State Street trimmed its Ironwood Pharma stake to 6.4%.**
AI Summary
State Street Corporation, a major financial institution, filed an amended SC 13G/A on January 25, 2024, indicating its ownership of 10,248,300 shares of Ironwood Pharmaceuticals Inc. common stock as of December 31, 2023. This represents a 6.4% passive ownership stake in Ironwood, down from a previous filing. This matters to investors because it shows a slight reduction in a significant institutional holder's position, which could signal a minor shift in institutional sentiment towards Ironwood Pharmaceuticals.
Why It Matters
A decrease in institutional ownership by a major player like State Street could be interpreted as a slight cooling of interest, potentially influencing other investors' perceptions of Ironwood Pharmaceuticals' stock.
Risk Assessment
Risk Level: low — This filing indicates a passive ownership change by an institutional investor, which typically carries low direct risk for the average shareholder.
Analyst Insight
Investors should note the slight reduction in State Street's passive stake but recognize it's a minor adjustment by a large institutional holder, not necessarily a strong bearish signal. Monitor future institutional filings for a clearer trend.
Key Numbers
- 10,248,300 — Shares Owned (The total number of common shares of Ironwood Pharmaceuticals Inc. held by State Street Corporation.)
- 6.4% — Ownership Percentage (The percentage of Ironwood Pharmaceuticals Inc. common stock beneficially owned by State Street Corporation, indicating a significant institutional stake.)
Key Players & Entities
- State Street Corporation (company) — the reporting person and institutional investor
- Ironwood Pharmaceuticals Inc. (company) — the subject company whose stock is being reported
- 10,248,300 (dollar_amount) — number of shares of common stock beneficially owned by State Street Corporation
- 6.4% (dollar_amount) — percentage of Ironwood Pharmaceuticals Inc. common stock beneficially owned by State Street Corporation
- December 31, 2023 (date) — the date of the event requiring the filing
- January 25, 2024 (date) — the filing date of the SC 13G/A
Forward-Looking Statements
- Institutional ownership in Ironwood Pharmaceuticals Inc. will remain relatively stable, with minor adjustments by large passive investors. (Ironwood Pharmaceuticals Inc.) — medium confidence, target: Q2 2024
FAQ
What is the purpose of an SC 13G/A filing?
An SC 13G/A is an amendment to a Schedule 13G, which is filed by passive institutional investors who own more than 5% but less than 20% of a company's stock. The 'A' signifies it's an amendment, updating previous ownership disclosures, as seen in this filing by State Street Corporation for Ironwood Pharmaceuticals Inc.
Who is the reporting person in this filing and what is their role?
The reporting person is State Street Corporation, identified by CIK 0000093751. They are a financial institution that has beneficially owned shares of Ironwood Pharmaceuticals Inc. common stock, holding 10,248,300 shares as of December 31, 2023.
What percentage of Ironwood Pharmaceuticals Inc. common stock does State Street Corporation beneficially own?
As of December 31, 2023, State Street Corporation beneficially owns 6.4% of the common stock of Ironwood Pharmaceuticals Inc., representing 10,248,300 shares.
What was the 'Date of Event Which Requires Filing of This Statement'?
The 'Date of Event Which Requires Filing of This Statement' was December 31, 2023, as explicitly stated in the filing.
Under which rule was this Schedule 13G filed?
This Schedule 13G/A was filed under Rule 13D-1(B), as indicated by the 'X' next to 'RULE 13D-1 (B)' in the filing.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 25, 2024 regarding IRONWOOD PHARMACEUTICALS INC (IRWD).