Vestmark Advisory Solutions Inc. cut its stake in Ionis Pharmaceuticals Inc (NASDAQ:IONS) by 4.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,373 shares of the company’s stock after selling 1,000 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Ionis Pharmaceuticals were worth $1,400,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in IONS. Vanguard Group Inc. increased its position in shares of Ionis Pharmaceuticals by 3.1% in the second quarter. Vanguard Group Inc. now owns 12,856,865 shares of the company’s stock valued at $826,311,000 after buying an additional 383,350 shares in the last quarter. BlackRock Inc. increased its position in shares of Ionis Pharmaceuticals by 15.5% in the second quarter. BlackRock Inc. now owns 8,802,576 shares of the company’s stock valued at $565,743,000 after buying an additional 1,181,004 shares in the last quarter. Invesco Ltd. increased its position in shares of Ionis Pharmaceuticals by 2,754.9% in the second quarter. Invesco Ltd. now owns 2,271,539 shares of the company’s stock valued at $145,992,000 after buying an additional 2,191,974 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Ionis Pharmaceuticals in the second quarter valued at approximately $112,814,000. Finally, Wells Fargo & Company MN increased its position in shares of Ionis Pharmaceuticals by 5.9% in the second quarter. Wells Fargo & Company MN now owns 1,076,304 shares of the company’s stock valued at $69,174,000 after buying an additional 59,667 shares in the last quarter. 88.41% of the stock is owned by institutional investors.
Shares of IONS traded up $0.33 during trading hours on Tuesday, hitting $56.98. 641,300 shares of the stock were exchanged, compared to its average volume of 1,145,895. The company has a debt-to-equity ratio of 0.44, a quick ratio of 10.31 and a current ratio of 10.39. Ionis Pharmaceuticals Inc has a 12-month low of $48.27 and a 12-month high of $86.58. The company has a market cap of $8.03 billion, a price-to-earnings ratio of 19.25, a price-to-earnings-growth ratio of 2.45 and a beta of 1.90. The stock’s 50-day moving average price is $57.77 and its two-hundred day moving average price is $64.17.
In related news, Chairman Stanley T. Crooke sold 22,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $71.52, for a total transaction of $1,573,440.00. Following the completion of the sale, the chairman now directly owns 79,634 shares in the company, valued at $5,695,423.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.40% of the stock is currently owned by insiders.
A number of research firms have recently commented on IONS. ValuEngine cut Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday. Cowen restated a “hold” rating on shares of Ionis Pharmaceuticals in a research report on Thursday, November 7th. Wells Fargo & Co boosted their price objective on Ionis Pharmaceuticals from $90.00 to $120.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. TheStreet cut Ionis Pharmaceuticals from a “b-” rating to a “c” rating in a research report on Thursday, August 8th. Finally, Zacks Investment Research cut Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $73.45.
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; and TEGSEDI, an injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults.
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