Brett P. Monia Sells 33,445 Shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) 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 transaction of $1,091,310.35. Following the sale, the chief executive officer now owns 207,396 shares in the company, 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 Securities & Exchange Commission, which is accessible through the SEC website.

Ionis Pharmaceuticals Trading Down 2.6 %

Shares of Ionis Pharmaceuticals stock opened at $31.43 on Friday. The company’s fifty day simple moving average is $35.63 and its 200-day simple moving average is $41.14. The stock has a market capitalization of $4.96 billion, a PE 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 debt-to-equity ratio of 1.86, a current ratio of 8.91 and a quick ratio of 8.82.

Analyst Ratings Changes

IONS has been the topic of a number of recent analyst reports. Guggenheim cut their price target on shares of Ionis Pharmaceuticals from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. William Blair reiterated an “outperform” rating on shares of Ionis Pharmaceuticals in a report on Friday, December 20th. Piper Sandler cut their price target on shares of Ionis Pharmaceuticals from $65.00 to $62.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. StockNews.com cut shares of Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, November 12th. Finally, Needham & Company LLC restated a “buy” rating and issued a $60.00 target price on shares of Ionis Pharmaceuticals in a report on Friday, December 20th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.65.

Institutional Trading of Ionis Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC raised its position in shares of Ionis Pharmaceuticals by 83.9% during the 3rd quarter. GAMMA Investing LLC now owns 664 shares of the company’s stock valued at $27,000 after purchasing an additional 303 shares during the period. Itau Unibanco Holding S.A. bought a new stake in shares of Ionis Pharmaceuticals during the 2nd quarter valued at $37,000. Capital Performance Advisors LLP bought a new stake in shares of Ionis Pharmaceuticals during the 3rd quarter valued at $40,000. Prospera Private Wealth LLC bought a new stake in shares of Ionis Pharmaceuticals during the 3rd quarter valued at $42,000. Finally, Quantbot Technologies LP bought a new stake in shares of Ionis Pharmaceuticals during the 3rd quarter valued at $51,000. 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.