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

Algert Global LLC decreased its holdings in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 39.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of IONS. CANADA LIFE ASSURANCE Co increased its holdings in shares of Ionis Pharmaceuticals by 2.7% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 41,880 shares of the company’s stock worth $1,817,000 after purchasing an additional 1,099 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Ionis Pharmaceuticals by 948.8% in the first quarter. Advisors Asset Management Inc. now owns 3,178 shares of the company’s stock worth $138,000 after acquiring an additional 2,875 shares during the period. Tidal Investments LLC bought a new stake in shares of Ionis Pharmaceuticals in the first quarter worth $885,000. Swedbank AB bought a new stake in shares of Ionis Pharmaceuticals in the first quarter worth $6,183,000. Finally, Teachers Retirement System of The State of Kentucky grew its holdings in shares of Ionis Pharmaceuticals by 70.6% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 24,083 shares of the company’s stock worth $1,044,000 after acquiring an additional 9,965 shares during the period. Institutional investors own 93.86% of the company’s stock.

Ionis Pharmaceuticals Price Performance

NASDAQ:IONS opened at $35.90 on Thursday. The company has a current ratio of 8.91, a quick ratio of 8.82 and a debt-to-equity ratio of 1.86. The company has a market capitalization of $5.67 billion, a P/E ratio of -14.71 and a beta of 0.39. Ionis Pharmaceuticals, Inc. has a 12 month low of $33.33 and a 12 month high of $54.44. The business’s 50-day moving average is $38.48 and its 200 day moving average is $42.44.

Insider Buying and Selling

In other Ionis Pharmaceuticals news, EVP Eric Swayze sold 1,194 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $37.92, for a total transaction of $45,276.48. Following the sale, the executive vice president now directly owns 33,713 shares of the company’s stock, valued at $1,278,396.96. The trade was a 3.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Brett P. Monia sold 6,630 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $38.05, for a total value of $252,271.50. Following the sale, the chief executive officer now directly owns 167,393 shares in the company, valued at $6,369,303.65. The trade was a 3.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,877 shares of company stock worth $299,578. Corporate insiders own 2.71% of the company’s stock.

Wall Street Analyst Weigh In

IONS has been the subject of several research analyst reports. StockNews.com lowered Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, November 12th. Barclays lifted their price objective on Ionis Pharmaceuticals from $45.00 to $51.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. lifted their price objective on Ionis Pharmaceuticals from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. Royal Bank of Canada reiterated an “outperform” rating and set a $70.00 target price on shares of Ionis Pharmaceuticals in a research report on Thursday, September 26th. Finally, Piper Sandler lowered their target price on Ionis Pharmaceuticals from $65.00 to $62.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Ionis Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $60.65.

Ionis Pharmaceuticals Company 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.