Bellevue Group AG lowered its position in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Free Report) by 4.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,874,400 shares of the company's stock after selling 386,034 shares during the period. Ionis Pharmaceuticals makes up approximately 5.1% of Bellevue Group AG's investment portfolio, making the stock its 2nd biggest holding. Bellevue Group AG owned approximately 4.99% of Ionis Pharmaceuticals worth $315,448,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC increased its stake in Ionis Pharmaceuticals by 83.9% in the 3rd quarter. GAMMA Investing LLC now owns 664 shares of the company's stock worth $27,000 after buying an additional 303 shares during the period. nVerses Capital LLC bought a new stake in shares of Ionis Pharmaceuticals during the second quarter valued at approximately $29,000. Itau Unibanco Holding S.A. bought a new stake in shares of Ionis Pharmaceuticals during the second quarter valued at approximately $37,000. Mather Group LLC. boosted its holdings in shares of Ionis Pharmaceuticals by 35.8% in the second quarter. Mather Group LLC. now owns 911 shares of the company's stock valued at $39,000 after purchasing an additional 240 shares during the period. Finally, Capital Performance Advisors LLP bought a new position in Ionis Pharmaceuticals in the third quarter worth approximately $40,000. Institutional investors own 93.86% of the company's stock.
Ionis Pharmaceuticals Stock Down 0.5 %
Shares of IONS stock traded down $0.17 during trading hours on Friday, reaching $35.73. 622,388 shares of the company's stock were exchanged, compared to its average volume of 1,379,116. The stock has a market cap of $5.64 billion, a PE ratio of -14.64 and a beta of 0.39. The company has a current ratio of 8.91, a quick ratio of 8.82 and a debt-to-equity ratio of 1.86. The stock's fifty day moving average price is $38.07 and its two-hundred day moving average price is $42.36. Ionis Pharmaceuticals, Inc. has a 1 year low of $33.33 and a 1 year high of $54.44.
Insiders Place Their Bets
In other news, CEO Brett P. Monia sold 6,630 shares of the firm's stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $38.05, for a total value 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 $6,369,303.65. This trade represents a 3.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Eric Swayze sold 1,194 shares of the company's stock in a transaction that occurred 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 owns 33,713 shares in the company, valued at approximately $1,278,396.96. This represents a 3.42 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,877 shares of company stock valued at $299,578. Insiders own 2.71% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts have weighed in on the company. Wells Fargo & Company decreased their target price on Ionis Pharmaceuticals from $82.00 to $77.00 and set an "overweight" rating for the company in a research report on Thursday, November 7th. Guggenheim lowered their price objective on shares of Ionis Pharmaceuticals from $70.00 to $65.00 and set a "buy" rating for the company in a research note on Wednesday, October 9th. Piper Sandler cut their target price on shares of Ionis Pharmaceuticals from $65.00 to $62.00 and set an "overweight" rating on the stock in a research report on Thursday, November 14th. Royal Bank of Canada restated an "outperform" rating and issued a $70.00 price target on shares of Ionis Pharmaceuticals in a report on Thursday, September 26th. Finally, Needham & Company LLC reissued a "buy" rating and set a $60.00 price objective on shares of Ionis Pharmaceuticals in a report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $60.65.
View Our Latest Analysis on IONS
About Ionis Pharmaceuticals
(
Free Report)
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.
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