Horizon Kinetics Asset Management LLC Decreases Stock Position in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

Horizon Kinetics Asset Management LLC cut its stake in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 4.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,952 shares of the company’s stock after selling 524 shares during the quarter. Horizon Kinetics Asset Management LLC’s holdings in Ionis Pharmaceuticals were worth $479,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Teachers Retirement System of The State of Kentucky grew its stake in shares of Ionis Pharmaceuticals by 70.6% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 24,083 shares of the company’s stock worth $1,044,000 after purchasing an additional 9,965 shares during the last quarter. Tidal Investments LLC bought a new stake in shares of Ionis Pharmaceuticals in the 1st quarter worth approximately $885,000. Great Point Partners LLC bought a new stake in shares of Ionis Pharmaceuticals in the 2nd quarter worth approximately $15,728,000. DRW Securities LLC purchased a new position in shares of Ionis Pharmaceuticals during the second quarter valued at approximately $2,429,000. Finally, Privium Fund Management B.V. raised its holdings in shares of Ionis Pharmaceuticals by 8.9% during the second quarter. Privium Fund Management B.V. now owns 247,267 shares of the company’s stock valued at $11,162,000 after acquiring an additional 20,274 shares in the last quarter. 93.86% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $70.00 price target on shares of Ionis Pharmaceuticals in a report on Thursday, September 26th. Piper Sandler cut their target price on shares of Ionis Pharmaceuticals from $65.00 to $62.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. JPMorgan Chase & Co. increased their price target on shares of Ionis Pharmaceuticals from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Barclays lifted their price objective on Ionis Pharmaceuticals from $45.00 to $51.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Finally, StockNews.com lowered Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Ionis Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $60.65.

Insider Transactions at Ionis Pharmaceuticals

In other news, EVP Eric Swayze sold 1,194 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $37.92, for a total value of $45,276.48. Following the transaction, the executive vice president now owns 33,713 shares in the company, valued at $1,278,396.96. This represents a 3.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Brett P. Monia sold 6,630 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $38.05, for a total transaction of $252,271.50. Following the sale, the chief executive officer now owns 167,393 shares of the company’s stock, valued at $6,369,303.65. This trade represents a 3.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,197 shares of company stock worth $315,310 in the last ninety days. Insiders own 2.71% of the company’s stock.

Ionis Pharmaceuticals Trading Up 4.3 %

NASDAQ:IONS opened at $35.46 on Tuesday. The company has a market cap of $5.60 billion, a PE ratio of -14.53 and a beta of 0.39. The company has a current ratio of 8.91, a quick ratio of 8.82 and a debt-to-equity ratio of 1.86. The company has a 50 day simple moving average of $38.70 and a two-hundred day simple moving average of $42.49. Ionis Pharmaceuticals, Inc. has a 12 month low of $33.33 and a 12 month high of $54.44.

About Ionis Pharmaceuticals

Ionis Pharmaceuticals, Inc discovers and develops RNA-targeted therapeutics in the United States. The company offers SPINRAZA for spinal muscular atrophy (SMA) in pediatric and adult patients; TEGSEDI, an antisense injection for the treatment of polyneuropathy caused by hereditary transthyretin amyloidosis in adults; and WAYLIVRA, an antisense medicine for treatment for familial chylomicronemia syndrome (FCS) and familial partial lipodystrophy.