abrdn plc Has $14.03 Million Position in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

abrdn plc lifted its holdings in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Free Report) by 32.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 401,501 shares of the company's stock after buying an additional 98,227 shares during the quarter. abrdn plc owned approximately 0.25% of Ionis Pharmaceuticals worth $14,028,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Geode Capital Management LLC lifted its stake in Ionis Pharmaceuticals by 7.4% in the third quarter. Geode Capital Management LLC now owns 2,668,358 shares of the company's stock valued at $106,922,000 after buying an additional 183,814 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Ionis Pharmaceuticals by 8.7% during 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 grew its holdings in Ionis Pharmaceuticals by 1.7% in the 3rd 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 in the last quarter. Two Sigma Advisers LP increased its position in Ionis Pharmaceuticals by 3.5% in the 3rd quarter. Two Sigma Advisers LP now owns 1,332,411 shares of the company's stock valued at $53,376,000 after acquiring an additional 45,300 shares during the period. Finally, Groupama Asset Managment raised its stake in Ionis Pharmaceuticals by 4.1% during the 3rd quarter. Groupama Asset Managment now owns 916,060 shares of the company's stock valued at $367,000 after acquiring an additional 36,084 shares in the last quarter. 93.86% of the stock is owned by institutional investors and hedge funds.

Ionis Pharmaceuticals Stock Up 0.3 %

Shares of IONS stock traded up $0.10 on Tuesday, hitting $31.58. The company's stock had a trading volume of 1,101,121 shares, compared to its average volume of 1,578,216. 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 $4.99 billion, a price-to-earnings ratio of -12.94 and a beta of 0.34. Ionis Pharmaceuticals, Inc. has a fifty-two week low of $30.90 and a fifty-two week high of $52.34. The firm's fifty day moving average price is $34.62 and its 200-day moving average price is $39.22.

Insider Activity

In other Ionis Pharmaceuticals news, EVP Eric Swayze sold 1,367 shares of the business's stock in a transaction on Friday, January 31st. The shares were sold at an average price of $32.31, for a total value of $44,167.77. Following the sale, the executive vice president now owns 48,017 shares of the company's stock, valued at $1,551,429.27. The trade was a 2.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Brett P. Monia sold 38,843 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $31.65, for a total value of $1,229,380.95. Following the transaction, the chief executive officer now owns 180,683 shares of the company's stock, valued at $5,718,616.95. This represents a 17.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 110,609 shares of company stock valued at $3,564,867. 2.71% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on IONS. Royal Bank of Canada reissued an "outperform" rating and issued a $70.00 price target on shares of Ionis Pharmaceuticals in a research note on Wednesday, January 15th. Piper Sandler decreased their target price on shares of Ionis Pharmaceuticals from $65.00 to $62.00 and set an "overweight" rating for the company in a research report on Thursday, November 14th. William Blair restated an "outperform" rating on shares of Ionis Pharmaceuticals in a research report on Friday, December 20th. Wells Fargo & Company decreased their price objective on shares of Ionis Pharmaceuticals from $82.00 to $77.00 and set an "overweight" rating for the company in a report on Thursday, November 7th. Finally, Needham & Company LLC reissued a "buy" rating and set a $60.00 target price on shares of Ionis Pharmaceuticals in a report on Friday, December 20th. Two analysts have rated the stock with a sell rating, five have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Ionis Pharmaceuticals has an average rating of "Moderate Buy" and an average price target 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.