SCHEDULE 13G/A: Pacer Funds Trust and Affiliates Disclose 1.12% Passive Stake in Ironwood Pharmaceuticals

Pacer US Small Cap Cash Cows ETF, Pacer Advisors, Inc., and Joe M. Thomson have jointly filed an amended Schedule 13G, disclosing a passive beneficial ownership of 1.12% in Ironwood Pharmaceuticals Inc.'s Class A Common Stock as of March 31, 2025.

Summary

• Pacer US Small Cap Cash Cows ETF, Pacer Advisors, Inc., and Joe M. Thomson (collectively, the "Reporting Persons") have filed an Amendment No. 1 to Schedule 13G regarding their beneficial ownership of Ironwood Pharmaceuticals Inc. (the "Issuer").
• As of March 31, 2025, the Reporting Persons collectively beneficially own 1,789,098 shares of Ironwood Pharmaceuticals Inc. Class A Common Stock.
• This ownership represents 1.12% of the Issuer's Class A Common Stock outstanding, calculated based on 160,205,899 shares outstanding as of December 31, 2024.
• The Pacer US Small Cap Cash Cows ETF holds all 1,789,098 shares directly.
• Pacer Advisors, Inc., as the investment adviser to the Funds, maintains discretionary investment and voting authority over these shares.
• Joe M. Thomson, as the majority stockholder of Pacer Advisors, Inc., is deemed a beneficial owner of these shares.
• All Reporting Persons disclaim beneficial ownership of the shares held by the Funds.
• The shares are held with shared voting power and shared dispositive power among the Reporting Persons.
• The filing indicates that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the Issuer.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing disclosing beneficial ownership and contains no information that would significantly alter the sentiment towards Ironwood Pharmaceuticals Inc. It is neutral in tone and content regarding the Issuer's performance or prospects.

Positives

• The filing indicates continued institutional interest in Ironwood Pharmaceuticals Inc. from Pacer Funds Trust and its affiliates.
• The passive nature of the investment (Schedule 13G) suggests no immediate intent to influence company control, which can be viewed as stability.

Negatives

• The document itself does not contain any negative information regarding Ironwood Pharmaceuticals Inc.'s operations or financial performance.

Risks

• The document does not detail any specific risks related to Ironwood Pharmaceuticals Inc. beyond the inherent risks of stock ownership.

Future Outlook

This Schedule 13G filing is a disclosure of beneficial ownership and does not contain any forward-looking statements or guidance regarding Ironwood Pharmaceuticals Inc.'s future performance or strategic outlook.

Management Comments

• Joe M. Thomson, Chairman and President of Pacer US Small Cap Cash Cows ETF and Pacer US Small Cap Cash Cows Growth Leaders ETF, and President of Pacer Advisors, Inc., certified that the information set forth in the statement is true, complete, and correct to the best of his knowledge and belief.

Industry Context

This filing represents a routine disclosure of a passive investment by an ETF manager in a pharmaceutical company. It reflects a standard portfolio allocation decision by Pacer Funds, which focuses on small-cap companies, rather than a specific strategic move related to the broader pharmaceutical industry trends.

Stakeholder Impact

• Shareholders: Provides transparency regarding institutional ownership, confirming a passive stake by Pacer Funds Trust and its affiliates.

Key Dates

Keywords

Ironwood Pharmaceuticals, IRWD, Schedule 13G, Beneficial Ownership, Pacer US Small Cap Cash Cows ETF, Pacer Advisors, Institutional Investment, SEC Filing, Common Stock