Algert Global LLC Reduces Stake in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

Algert Global LLC cut its stake in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Free Report) by 39.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 45,430 shares of the company's stock after selling 29,920 shares during the quarter. Algert Global LLC's holdings in Ionis Pharmaceuticals were worth $1,820,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of IONS. Teachers Retirement System of The State of Kentucky grew its stake in Ionis Pharmaceuticals by 70.6% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 24,083 shares of the company's stock valued at $1,044,000 after purchasing an additional 9,965 shares during the period. Tidal Investments LLC purchased a new stake in Ionis Pharmaceuticals during the first quarter worth about $885,000. Great Point Partners LLC bought a new stake in Ionis Pharmaceuticals in the second quarter worth about $15,728,000. DRW Securities LLC purchased a new position in Ionis Pharmaceuticals in the second quarter valued at about $2,429,000. Finally, Privium Fund Management B.V. grew its position in shares of Ionis Pharmaceuticals by 8.9% during the 2nd quarter. Privium Fund Management B.V. now owns 247,267 shares of the company's stock valued at $11,162,000 after acquiring an additional 20,274 shares during the period. 93.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IONS has been the topic of several research analyst reports. Piper Sandler dropped their price objective on Ionis Pharmaceuticals from $65.00 to $62.00 and set an "overweight" rating on the stock in a research note on Thursday, November 14th. StockNews.com downgraded Ionis Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Tuesday, November 12th. Barclays upped their price objective on shares of Ionis Pharmaceuticals from $45.00 to $51.00 and gave the company an "equal weight" rating in a report on Friday, August 2nd. The Goldman Sachs Group lifted their target price on shares of Ionis Pharmaceuticals from $33.00 to $37.00 and gave the stock a "sell" rating in a research note on Friday, August 2nd. Finally, BMO Capital Markets cut shares of Ionis Pharmaceuticals from an "outperform" rating to a "market perform" rating and dropped their price target for the company from $67.00 to $60.00 in a research note on Friday, August 2nd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $60.65.

Insider Transactions at Ionis Pharmaceuticals

In other Ionis Pharmaceuticals news, EVP Eric Swayze sold 1,194 shares of the business's stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $37.92, for a total value of $45,276.48. Following the completion of 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Brett P. Monia sold 6,630 shares of the firm's stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $38.05, for a total value of $252,271.50. Following the transaction, the chief executive officer now directly owns 167,393 shares in the company, valued at $6,369,303.65. This trade represents a 3.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 7,877 shares of company stock worth $299,578. 2.71% of the stock is currently owned by corporate insiders.

Ionis Pharmaceuticals Price Performance

NASDAQ:IONS traded up $0.53 during midday trading on Thursday, hitting $35.90. The company had a trading volume of 977,187 shares, compared to its average volume of 1,333,372. The company has a market capitalization of $5.67 billion, a PE ratio of -14.71 and a beta of 0.39. The company has a quick ratio of 8.82, a current ratio of 8.91 and a debt-to-equity ratio of 1.86. Ionis Pharmaceuticals, Inc. has a 52-week low of $33.33 and a 52-week high of $54.44. The stock's fifty day moving average price is $38.35 and its 200-day moving average price is $42.39.

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.