HBK Investments L P Takes Position in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

HBK Investments L P bought a new stake in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 60,000 shares of the company's stock, valued at approximately $2,404,000.

Several other large investors also recently added to or reduced their stakes in IONS. Great Point Partners LLC acquired a new stake in Ionis Pharmaceuticals in the 2nd quarter worth approximately $15,728,000. International Assets Investment Management LLC boosted its stake in Ionis Pharmaceuticals by 3,287.0% during the 3rd quarter. International Assets Investment Management LLC now owns 328,772 shares of the company's stock valued at $13,171,000 after purchasing an additional 319,065 shares during the period. Logos Global Management LP acquired a new stake in Ionis Pharmaceuticals in the 2nd quarter valued at approximately $14,298,000. Marshall Wace LLP increased its position in Ionis Pharmaceuticals by 1,021.5% in the 2nd quarter. Marshall Wace LLP now owns 173,199 shares of the company's stock worth $8,255,000 after buying an additional 157,756 shares during the period. Finally, Swedbank AB acquired a new position in shares of Ionis Pharmaceuticals during the first quarter worth approximately $6,183,000. 93.86% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Brett P. Monia sold 6,630 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $38.05, for a total transaction of $252,271.50. Following the completion of the transaction, the chief executive officer now directly owns 167,393 shares in the company, valued at approximately $6,369,303.65. The trade was a 3.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 transaction, the executive vice president now directly owns 33,713 shares in the company, valued at $1,278,396.96. The trade was a 3.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,877 shares of company stock valued at $299,578 in the last quarter. Company insiders own 2.71% of the company's stock.

Wall Street Analyst Weigh In

IONS has been the subject of a number of research reports. BMO Capital Markets downgraded shares of Ionis Pharmaceuticals from an "outperform" rating to a "market perform" rating and reduced their price target for the company from $67.00 to $60.00 in a report on Friday, August 2nd. Needham & Company LLC reiterated a "buy" rating and set a $60.00 target price on shares of Ionis Pharmaceuticals in a research report on Thursday, November 7th. Piper Sandler dropped their price target 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. Wells Fargo & Company decreased their price objective on Ionis Pharmaceuticals from $82.00 to $77.00 and set an "overweight" rating on the stock in a report on Thursday, November 7th. Finally, Guggenheim lowered their price target on Ionis Pharmaceuticals from $70.00 to $65.00 and set a "buy" rating on the stock in a research report on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $60.65.

Ionis Pharmaceuticals Stock Down 0.5 %

Shares of NASDAQ:IONS traded down $0.17 during midday trading on Friday, hitting $35.73. The stock had a trading volume of 622,388 shares, compared to its average volume of 1,330,294. The company has a quick ratio of 8.82, a current ratio of 8.91 and a debt-to-equity ratio of 1.86. The business's 50-day simple moving average is $38.21 and its 200-day simple moving average is $42.35. Ionis Pharmaceuticals, Inc. has a 12 month low of $33.33 and a 12 month high of $54.44. The company has a market cap of $5.64 billion, a P/E ratio of -14.71 and a beta of 0.39.

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.