Sumitomo Mitsui Trust Group Inc. Has $5.48 Million Holdings in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

Sumitomo Mitsui Trust Group Inc. trimmed its position in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Free Report) by 20.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 156,657 shares of the company's stock after selling 39,457 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.10% of Ionis Pharmaceuticals worth $5,477,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC raised its stake in Ionis Pharmaceuticals by 83.9% during the 3rd quarter. GAMMA Investing LLC now owns 664 shares of the company's stock valued at $27,000 after purchasing an additional 303 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in Ionis Pharmaceuticals during the 3rd quarter valued at $40,000. Prospera Private Wealth LLC acquired a new position in Ionis Pharmaceuticals during the 3rd quarter valued at $42,000. Itau Unibanco Holding S.A. raised its stake in Ionis Pharmaceuticals by 40.9% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 1,081 shares of the company's stock valued at $43,000 after purchasing an additional 314 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in Ionis Pharmaceuticals during the 3rd quarter valued at $51,000. 93.86% of the stock is currently owned by institutional investors and hedge funds.

Ionis Pharmaceuticals Trading Up 2.3 %

NASDAQ:IONS traded up $0.69 during trading hours on Monday, hitting $31.04. 1,445,661 shares of the stock were exchanged, compared to its average volume of 1,668,259. The company's 50 day moving average is $34.07 and its two-hundred day moving average is $38.67. Ionis Pharmaceuticals, Inc. has a twelve month low of $30.23 and a twelve month high of $52.34. 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 company has a market capitalization of $4.90 billion, a P/E ratio of -12.72 and a beta of 0.34.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Piper Sandler cut 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 note on Thursday, November 14th. Needham & Company LLC reissued a "buy" rating and issued a $60.00 price target on shares of Ionis Pharmaceuticals in a report on Friday, December 20th. William Blair reissued an "outperform" rating on shares of Ionis Pharmaceuticals in a report on Friday, December 20th. Royal Bank of Canada reissued an "outperform" rating and issued a $70.00 price target on shares of Ionis Pharmaceuticals in a report on Wednesday, January 15th. Finally, Wells Fargo & Company lowered their price target on shares of Ionis Pharmaceuticals from $82.00 to $77.00 and set an "overweight" rating on the stock in a report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $60.65.

Insiders Place Their Bets

In other news, EVP Eric Swayze sold 7,154 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $32.84, for a total value of $234,937.36. Following the transaction, the executive vice president now owns 45,670 shares of the company's stock, valued at $1,499,802.80. This represents a 13.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael R. Hayden purchased 5,000 shares of the business's stock in a transaction dated Monday, December 23rd. The stock was bought at an average cost of $36.22 per share, for a total transaction of $181,100.00. Following the purchase, the director now owns 35,219 shares in the company, valued at $1,275,632.18. This trade represents a 16.55 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 110,609 shares of company stock valued at $3,564,867. 2.71% of the stock is currently owned by corporate insiders.

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.