Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC cut its position in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 12.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 267,312 shares of the company’s stock after selling 39,678 shares during the period. Corient Private Wealth LLC’s holdings in Ionis Pharmaceuticals were worth $13,523,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Teacher Retirement System of Texas lifted its position in Ionis Pharmaceuticals by 4.8% during the 3rd quarter. Teacher Retirement System of Texas now owns 36,578 shares of the company’s stock worth $1,659,000 after acquiring an additional 1,675 shares during the period. Principal Financial Group Inc. increased its position in Ionis Pharmaceuticals by 4.2% during the third quarter. Principal Financial Group Inc. now owns 34,651 shares of the company’s stock worth $1,572,000 after buying an additional 1,381 shares in the last quarter. Private Advisor Group LLC boosted its holdings in shares of Ionis Pharmaceuticals by 1.6% during the third quarter. Private Advisor Group LLC now owns 48,618 shares of the company’s stock worth $2,205,000 after purchasing an additional 788 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Ionis Pharmaceuticals by 2.3% in the third quarter. Victory Capital Management Inc. now owns 15,436 shares of the company’s stock valued at $700,000 after acquiring an additional 348 shares during the last quarter. Finally, Privium Fund Management B.V. boosted its holdings in Ionis Pharmaceuticals by 0.9% in the third quarter. Privium Fund Management B.V. now owns 228,493 shares of the company’s stock valued at $10,364,000 after acquiring an additional 2,000 shares during the last quarter. 93.86% of the stock is owned by institutional investors and hedge funds.

Ionis Pharmaceuticals Stock Performance

Shares of Ionis Pharmaceuticals stock traded down $0.72 during trading on Friday, hitting $37.28. 676,253 shares of the stock were exchanged, compared to its average volume of 1,242,344. The company has a fifty day moving average price of $41.38 and a 200-day moving average price of $46.28. Ionis Pharmaceuticals, Inc. has a 1-year low of $36.56 and a 1-year high of $54.44. The stock has a market capitalization of $5.44 billion, a price-to-earnings ratio of -13.96 and a beta of 0.41. The company has a current ratio of 7.37, a quick ratio of 7.28 and a debt-to-equity ratio of 4.15.

Ionis Pharmaceuticals (NASDAQ:IONS) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.98) EPS for the quarter, topping analysts’ consensus estimates of ($1.10) by $0.12. The business had revenue of $119.00 million during the quarter, compared to analysts’ expectations of $131.42 million. Ionis Pharmaceuticals had a negative net margin of 49.49% and a negative return on equity of 107.64%. The business’s quarterly revenue was down 9.2% on a year-over-year basis. During the same period last year, the company posted ($0.87) earnings per share. As a group, equities analysts predict that Ionis Pharmaceuticals, Inc. will post -3.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on IONS. Wells Fargo & Company dropped their target price on Ionis Pharmaceuticals from $85.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 8th. Wolfe Research upgraded Ionis Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $58.00 target price for the company in a research report on Wednesday, April 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 price target on shares of Ionis Pharmaceuticals in a report on Wednesday, May 8th. William Blair reissued an “outperform” rating on shares of Ionis Pharmaceuticals in a research note on Tuesday, April 9th. Finally, StockNews.com raised shares of Ionis Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, February 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $59.54.

Insider Transactions at Ionis Pharmaceuticals

In other news, Director Joseph Klein III sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $42.71, for a total value of $256,260.00. Following the completion of the sale, the director now directly owns 16,346 shares in the company, valued at approximately $698,137.66. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Ionis Pharmaceuticals news, EVP Joseph Baroldi sold 4,006 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $41.60, for a total transaction of $166,649.60. Following the completion of the sale, the executive vice president now directly owns 19,631 shares of the company’s stock, valued at approximately $816,649.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Joseph Klein III sold 6,000 shares of Ionis Pharmaceuticals stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $42.71, for a total transaction of $256,260.00. Following the transaction, the director now directly owns 16,346 shares of the company’s stock, valued at $698,137.66. The disclosure for this sale can be found here. Corporate insiders own 2.65% of the company’s stock.

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.