Geode Capital Management LLC Increases Holdings in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

Geode Capital Management LLC increased its holdings in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Free Report) by 7.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,668,358 shares of the company's stock after purchasing an additional 183,814 shares during the quarter. Geode Capital Management LLC owned 1.69% of Ionis Pharmaceuticals worth $106,922,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Great Point Partners LLC bought a new stake in Ionis Pharmaceuticals in the 2nd quarter valued at approximately $15,728,000. Charles Schwab Investment Management Inc. lifted its position in shares of Ionis Pharmaceuticals by 8.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,443,020 shares of the company's stock worth $57,807,000 after purchasing an additional 114,914 shares in the last quarter. DRW Securities LLC acquired a new position in Ionis Pharmaceuticals during the second quarter worth $2,429,000. Jacobs Levy Equity Management Inc. grew its position in Ionis Pharmaceuticals by 13.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 650,779 shares of the company's stock valued at $26,070,000 after purchasing an additional 77,909 shares in the last quarter. Finally, Privium Fund Management B.V. increased its position in shares of Ionis Pharmaceuticals by 8.9% in the second 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 last quarter. Institutional investors own 93.86% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on IONS shares. JPMorgan Chase & Co. boosted their price target on Ionis Pharmaceuticals from $50.00 to $55.00 and gave the stock a "neutral" rating in a research report on Monday, August 26th. Needham & Company LLC reissued a "buy" rating and issued a $60.00 price objective on shares of Ionis Pharmaceuticals in a research report on Thursday, November 7th. Piper Sandler cut their price objective on Ionis Pharmaceuticals from $65.00 to $62.00 and set an "overweight" rating for the company in a research report on Thursday, November 14th. Wells Fargo & Company reduced their price objective on shares of Ionis Pharmaceuticals from $82.00 to $77.00 and set an "overweight" rating for the company in a research report on Thursday, November 7th. Finally, StockNews.com cut Ionis Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Ionis Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus price target of $60.65.

Insider Buying and Selling at Ionis Pharmaceuticals

In other Ionis Pharmaceuticals news, CEO Brett P. Monia sold 6,630 shares of the 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 completion of the sale, the chief executive officer now owns 167,393 shares in the company, valued at approximately $6,369,303.65. This trade represents a 3.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 value of $45,276.48. Following the completion of the transaction, the executive vice president now owns 33,713 shares in the company, valued at $1,278,396.96. The trade was a 3.42 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,877 shares of company stock worth $299,578. Insiders own 2.71% of the company's stock.

Ionis Pharmaceuticals Stock Down 1.8 %

Shares of NASDAQ IONS traded down $0.66 during trading on Thursday, hitting $35.59. 1,880,702 shares of the company traded hands, compared to its average volume of 1,344,114. The business's fifty day moving average is $37.52 and its 200 day moving average is $42.37. Ionis Pharmaceuticals, Inc. has a fifty-two week low of $33.33 and a fifty-two week high of $54.44. The company has a debt-to-equity ratio of 1.86, a quick ratio of 8.82 and a current ratio of 8.91. The firm has a market capitalization of $5.62 billion, a price-to-earnings ratio of -14.59 and a beta of 0.35.

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.