Algert Global LLC Sells 29,920 Shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

Algert Global LLC trimmed its holdings in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 39.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 45,430 shares of the company’s stock after selling 29,920 shares during the period. Algert Global LLC’s holdings in Ionis Pharmaceuticals were worth $1,820,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Charles Schwab Investment Management Inc. raised its holdings in shares of Ionis Pharmaceuticals by 8.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,443,020 shares of the company’s stock worth $57,807,000 after buying an additional 114,914 shares during the period. ARK Investment Management LLC raised its holdings in shares of Ionis Pharmaceuticals by 1.7% in the third quarter. ARK Investment Management LLC now owns 1,384,269 shares of the company’s stock worth $55,454,000 after buying an additional 23,244 shares during the period. TD Asset Management Inc raised its holdings in shares of Ionis Pharmaceuticals by 6.1% in the second quarter. TD Asset Management Inc now owns 952,762 shares of the company’s stock worth $45,409,000 after buying an additional 54,400 shares during the period. Candriam S.C.A. raised its holdings in shares of Ionis Pharmaceuticals by 4.0% in the second quarter. Candriam S.C.A. now owns 948,266 shares of the company’s stock worth $45,192,000 after buying an additional 36,369 shares during the period. Finally, Great Point Partners LLC purchased a new stake in shares of Ionis Pharmaceuticals in the second quarter worth approximately $15,728,000. 93.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Ionis Pharmaceuticals

In other Ionis Pharmaceuticals news, CEO Brett P. Monia sold 6,630 shares of Ionis Pharmaceuticals stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $38.05, for a total transaction of $252,271.50. Following the completion of the sale, the chief executive officer now owns 167,393 shares of the company’s stock, valued at approximately $6,369,303.65. The trade was a 3.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Eric Swayze sold 1,194 shares of Ionis Pharmaceuticals stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $37.92, for a total value of $45,276.48. Following the sale, the executive vice president now directly owns 33,713 shares of the company’s stock, valued at approximately $1,278,396.96. This represents a 3.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,877 shares of company stock valued at $299,578 in the last quarter. 2.71% of the stock is currently owned by corporate insiders.

Ionis Pharmaceuticals Stock Up 1.5 %

Ionis Pharmaceuticals stock opened at $35.90 on Thursday. The company has a debt-to-equity ratio of 1.86, a current ratio of 8.91 and a quick ratio of 8.82. The stock has a market capitalization of $5.67 billion, a price-to-earnings ratio of -14.71 and a beta of 0.39. Ionis Pharmaceuticals, Inc. has a 1-year low of $33.33 and a 1-year high of $54.44. The business has a fifty day moving average price of $38.48 and a 200-day moving average price of $42.44.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on IONS shares. Barclays increased their price target on Ionis Pharmaceuticals from $45.00 to $51.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. The Goldman Sachs Group raised their price objective on Ionis Pharmaceuticals from $33.00 to $37.00 and gave the stock a “sell” rating in a report on Friday, August 2nd. StockNews.com downgraded Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, November 12th. Needham & Company LLC restated a “buy” rating and set a $60.00 price objective on shares of Ionis Pharmaceuticals in a report on Thursday, November 7th. Finally, BMO Capital Markets downgraded Ionis Pharmaceuticals from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $67.00 to $60.00 in a report on Friday, August 2nd. Two research 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 company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $60.65.

Ionis Pharmaceuticals Profile

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.