Swedbank AB Reduces Stake in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

Swedbank AB trimmed its stake in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 4.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 124,237 shares of the company’s stock after selling 5,136 shares during the period. Swedbank AB owned approximately 0.08% of Ionis Pharmaceuticals worth $4,343,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in 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 buying an additional 303 shares during the period. Capital Performance Advisors LLP purchased a new stake in shares of Ionis Pharmaceuticals in the third quarter valued at $40,000. Prospera Private Wealth LLC bought a new stake in shares of Ionis Pharmaceuticals in the 3rd quarter worth about $42,000. Itau Unibanco Holding S.A. boosted its stake in shares of Ionis Pharmaceuticals by 40.9% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 1,081 shares of the company’s stock worth $43,000 after purchasing an additional 314 shares during the period. Finally, Quantbot Technologies LP bought a new position in Ionis Pharmaceuticals during the 3rd quarter valued at about $51,000. Hedge funds and other institutional investors own 93.86% of the company’s stock.

Ionis Pharmaceuticals Price Performance

Shares of IONS stock opened at $31.90 on Friday. The company has a market cap of $5.04 billion, a P/E ratio of -13.07 and a beta of 0.35. 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’s 50-day moving average is $35.14 and its 200 day moving average is $40.16. Ionis Pharmaceuticals, Inc. has a 1-year low of $31.40 and a 1-year high of $52.49.

Analysts Set New Price Targets

Several research analysts have issued reports on IONS shares. StockNews.com lowered Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, November 12th. Wells Fargo & Company dropped their price objective on Ionis Pharmaceuticals from $82.00 to $77.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Needham & Company LLC reiterated a “buy” rating and issued a $60.00 target price on shares of Ionis Pharmaceuticals in a research note on Friday, December 20th. William Blair reissued an “outperform” rating on shares of Ionis Pharmaceuticals in a research note on Friday, December 20th. Finally, Piper Sandler reduced their price target on shares of Ionis Pharmaceuticals from $65.00 to $62.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.65.

Insider Activity

In other news, Director Michael R. Hayden bought 5,000 shares of the stock in a transaction on Monday, December 23rd. The stock was bought at an average cost of $36.22 per share, for a total transaction of $181,100.00. Following the completion of the purchase, the director now directly owns 35,219 shares in the company, valued at approximately $1,275,632.18. The trade was a 16.55 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brett P. Monia sold 33,445 shares of the company’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $32.63, for a total value of $1,091,310.35. Following the transaction, the chief executive officer now directly owns 207,396 shares in the company, valued at approximately $6,767,331.48. The trade was a 13.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 57,293 shares of company stock worth $1,914,820. Corporate insiders own 2.71% 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.