Ionis Pharmaceuticals, Inc. $IONS Stock Holdings Increased by Profund Advisors LLC

Profund Advisors LLC grew its holdings in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 110.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,639 shares of the company’s stock after acquiring an additional 20,318 shares during the period. Profund Advisors LLC’s holdings in Ionis Pharmaceuticals were worth $1,725,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Alyeska Investment Group L.P. raised its holdings in Ionis Pharmaceuticals by 199.7% during the second quarter. Alyeska Investment Group L.P. now owns 1,417,916 shares of the company’s stock valued at $112,427,000 after buying an additional 944,766 shares in the last quarter. Groupama Asset Managment raised its stake in shares of Ionis Pharmaceuticals by 7.5% in the 1st quarter. Groupama Asset Managment now owns 824,540 shares of the company’s stock valued at $61,915,000 after acquiring an additional 57,651 shares in the last quarter. Bank of America Corp DE acquired a new stake in Ionis Pharmaceuticals in the 2nd quarter worth approximately $62,718,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Ionis Pharmaceuticals in the 2nd quarter worth approximately $54,253,000. Finally, Eversept Partners LP boosted its position in Ionis Pharmaceuticals by 17.4% during the first quarter. Eversept Partners LP now owns 632,100 shares of the company’s stock worth $47,464,000 after purchasing an additional 93,882 shares during the period. Institutional investors and hedge funds own 93.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group dropped their price target on shares of Ionis Pharmaceuticals from $69.00 to $56.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 8th. HC Wainwright reiterated a “buy” rating on shares of Ionis Pharmaceuticals in a research note on Thursday, October 22nd. Barclays dropped their target price on shares of Ionis Pharmaceuticals from $90.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday, September 9th. BMO Capital Markets upgraded shares of Ionis Pharmaceuticals from a “market perform” rating to an “outperform” rating and upped their price target for the company from $54.00 to $66.00 in a report on Thursday, October 22nd. Finally, Wall Street Zen cut Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Nineteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Ionis Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $89.48.

Insider Buying and Selling at Ionis Pharmaceuticals

In other news, EVP Shannon Devers sold 1,357 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Friday, October 16th. The stock was sold at an average price of $43.54, for a total transaction of $59,083.78. Following the sale, the executive vice president owned 17,811 shares of the company’s stock, valued at approximately $775,490.94. This trade represents a 7.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 1.81% of the company’s stock.

Ionis Pharmaceuticals Trading Down 5.2%

Shares of IONS opened at $41.24 on Tuesday. Ionis Pharmaceuticals, Inc. has a 12-month low of $41.19 and a 12-month high of $86.74. The company has a quick ratio of 7.73, a current ratio of 7.89 and a debt-to-equity ratio of 3.07. The firm has a market capitalization of $6.85 billion, a price-to-earnings ratio of -11.92 and a beta of 0.38. The stock’s 50-day moving average price is $48.65 and its 200 day moving average price is $66.63.

About Ionis Pharmaceuticals

Ionis Pharmaceuticals, Inc is a biotechnology company focused on discovering and developing medicines using antisense technology. Its platform is designed to selectively target RNA and regulate the production of disease-related proteins. The company develops therapies for neurological, cardiovascular and metabolic, and rare diseases.

Ionis has developed and commercialized medicines both independently and through collaborations with larger pharmaceutical companies. Its marketed or partnered products include Spinraza (nusinersen) for spinal muscular atrophy, Tegsedi (inotersen) and Wainua (eplontersen) for hereditary transthyretin amyloidosis, and Tryngolza (olezarsen) for familial chylomicronemia syndrome.