Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) CEO Sells $1,091,310.35 in Stock

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) CEO Brett P. Monia sold 33,445 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $32.63, for a total value of $1,091,310.35. Following the completion of the sale, the chief executive officer now directly owns 207,396 shares of the company’s stock, valued at approximately $6,767,331.48. The trade was a 13.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Ionis Pharmaceuticals Trading Down 2.6 %

Shares of IONS stock opened at $31.43 on Friday. The stock has a market cap of $4.96 billion, a P/E ratio of -12.88 and a beta of 0.35. Ionis Pharmaceuticals, Inc. has a 1 year low of $31.40 and a 1 year high of $52.49. 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 stock has a 50 day simple moving average of $35.63 and a 200 day simple moving average of $41.17.

Analysts Set New Price Targets

A number of analysts have commented on IONS shares. StockNews.com cut shares of Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, November 12th. Wells Fargo & Company cut their target price on shares of Ionis Pharmaceuticals from $82.00 to $77.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Piper Sandler lowered their price target on Ionis Pharmaceuticals from $65.00 to $62.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. William Blair reaffirmed an “outperform” rating on shares of Ionis Pharmaceuticals in a research report on Friday, December 20th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $60.00 price objective on shares of Ionis Pharmaceuticals in a report on Friday, December 20th. Two analysts have rated the stock with a sell rating, five have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Ionis Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $60.65.

Institutional Trading of Ionis Pharmaceuticals

A number of institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC raised its position in Ionis Pharmaceuticals by 7.4% during the third quarter. Geode Capital Management LLC now owns 2,668,358 shares of the company’s stock valued at $106,922,000 after purchasing an additional 183,814 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Ionis Pharmaceuticals by 8.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,443,020 shares of the company’s stock valued at $57,807,000 after purchasing an additional 114,914 shares in the last quarter. ARK Investment Management LLC increased its stake in shares of Ionis Pharmaceuticals by 1.7% in the 3rd quarter. ARK Investment Management LLC now owns 1,384,269 shares of the company’s stock valued at $55,454,000 after purchasing an additional 23,244 shares during the last quarter. Two Sigma Advisers LP raised its holdings in shares of Ionis Pharmaceuticals by 3.5% during the 3rd quarter. Two Sigma Advisers LP now owns 1,332,411 shares of the company’s stock worth $53,376,000 after buying an additional 45,300 shares in the last quarter. Finally, Groupama Asset Managment lifted its position in shares of Ionis Pharmaceuticals by 4.1% during the 3rd quarter. Groupama Asset Managment now owns 916,060 shares of the company’s stock worth $367,000 after buying an additional 36,084 shares during the last quarter. 93.86% of the stock is currently owned by institutional investors.

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.