market folly

Roberto Mignone's hedge fund Bridger Management just filed a 13G with the SEC regarding shares of Ironwood Pharmaceuticals (IRWD). Due to portfolio activity on December 9th, Bridger has disclosed a 5.1% ownership stake in the company with 2,390,679 shares.

This marks an increase in Mignone's position size to the tune of 483%. Bridger Management previously owned only 410,000 shares at the end of the third quarter. Roberto Mignone worked at Blue Ridge Capital and Tiger Management before founding Bridger and earned both his undergraduate degree and MBA from Harvard. You can scroll through all our previous coverage of Bridger Management here.

Per Google Finance, Ironwood Pharmaceuticals " formerly Microbia, Inc. is an entrepreneurial pharmaceutical company that discovers, develops and focuses to commercialize medicines targeting important therapeutic needs. The Company operates in two segments: human therapeutics and biomanufacturing."