Insider Selling: Ionis Pharmaceuticals (NASDAQ:IONS) EVP Sells 5,885 Shares of Stock

by · The Cerbat Gem

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS – Get Free Report) EVP C Frank Bennett sold 5,885 shares of the business’s stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $82.95, for a total transaction of $488,160.75. Following the completion of the transaction, the executive vice president owned 100,293 shares of the company’s stock, valued at $8,319,304.35. This represents a 5.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

C Frank Bennett also recently made the following trade(s):

  • On Friday, January 30th, C Frank Bennett sold 5,885 shares of Ionis Pharmaceuticals stock. The stock was sold at an average price of $82.95, for a total value of $488,160.75.
  • On Friday, January 16th, C Frank Bennett sold 8,977 shares of Ionis Pharmaceuticals stock. The shares were sold at an average price of $75.15, for a total value of $674,621.55.

Ionis Pharmaceuticals Stock Performance

NASDAQ IONS traded up $0.40 on Monday, reaching $83.07. 1,788,929 shares of the company’s stock traded hands, compared to its average volume of 2,332,586. Ionis Pharmaceuticals, Inc. has a fifty-two week low of $23.95 and a fifty-two week high of $86.15. The firm has a market cap of $13.45 billion, a price-to-earnings ratio of -49.15 and a beta of 0.29. The stock has a 50 day moving average price of $80.34 and a 200-day moving average price of $66.84. The company has a debt-to-equity ratio of 0.96, a quick ratio of 2.78 and a current ratio of 2.79.

Hedge Funds Weigh In On Ionis Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Capital World Investors increased its position in shares of Ionis Pharmaceuticals by 1.5% in the third quarter. Capital World Investors now owns 12,722,728 shares of the company’s stock valued at $832,321,000 after buying an additional 182,540 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its stake in Ionis Pharmaceuticals by 253.3% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 3,800,000 shares of the company’s stock worth $150,138,000 after acquiring an additional 2,724,400 shares during the period. Tweedy Browne Co LLC boosted its holdings in shares of Ionis Pharmaceuticals by 0.3% during the third quarter. Tweedy Browne Co LLC now owns 2,901,216 shares of the company’s stock worth $189,798,000 after purchasing an additional 9,268 shares during the last quarter. Geode Capital Management LLC boosted its stake in Ionis Pharmaceuticals by 1.7% in the 2nd quarter. Geode Capital Management LLC now owns 2,891,095 shares of the company’s stock worth $114,245,000 after buying an additional 48,141 shares during the last quarter. Finally, Pictet Asset Management Holding SA grew its holdings in Ionis Pharmaceuticals by 1.8% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,418,491 shares of the company’s stock valued at $112,476,000 after buying an additional 25,367 shares during the period. 93.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on IONS. Wall Street Zen lowered Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. JPMorgan Chase & Co. upgraded Ionis Pharmaceuticals from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $49.00 to $80.00 in a report on Wednesday, October 8th. Leerink Partners lifted their target price on Ionis Pharmaceuticals from $85.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday, December 15th. Oppenheimer lifted their price objective on Ionis Pharmaceuticals from $84.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, October 8th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $89.00 price target (up from $85.00) on shares of Ionis Pharmaceuticals in a report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $86.45.

Get Our Latest Report on Ionis Pharmaceuticals

About Ionis Pharmaceuticals

(Get Free Report)

Ionis Pharmaceuticals, Inc is a biotechnology company focused on the discovery and development of RNA-targeted therapies designed to modulate gene expression. The company’s proprietary antisense oligonucleotide (ASO) technology enables the selective binding of short synthetic strands of nucleic acids to messenger RNA (mRNA), thereby inhibiting or altering the production of disease-causing proteins. Ionis’ pipeline spans a range of therapeutic areas, including neurological disorders, cardiovascular conditions, metabolic diseases and rare genetic disorders.

Since its founding in 1989 by Dr.

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