Y Intercept Hong Kong Ltd Acquires Shares of 20,141 Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

Y Intercept Hong Kong Ltd bought a new stake in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 20,141 shares of the company's stock, valued at approximately $807,000.

A number of other large investors have also added to or reduced their stakes in the company. nVerses Capital LLC purchased a new position in shares of Ionis Pharmaceuticals in the 2nd quarter worth approximately $29,000. GAMMA Investing LLC boosted its stake in Ionis Pharmaceuticals by 83.9% in the third quarter. GAMMA Investing LLC now owns 664 shares of the company's stock valued at $27,000 after acquiring an additional 303 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new position in Ionis Pharmaceuticals in the second quarter worth $37,000. Capital Performance Advisors LLP purchased a new position in Ionis Pharmaceuticals in the third quarter worth $40,000. Finally, Prospera Private Wealth LLC acquired a new position in shares of Ionis Pharmaceuticals during the third quarter worth $42,000. 93.86% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Piper Sandler lowered 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. Needham & Company LLC reissued a "buy" rating and issued a $60.00 price target on shares of Ionis Pharmaceuticals in a report on Thursday, November 7th. Wells Fargo & Company dropped their price target on Ionis Pharmaceuticals from $82.00 to $77.00 and set an "overweight" rating on the stock in a research note on Thursday, November 7th. StockNews.com lowered shares of Ionis Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Tuesday, November 12th. Finally, Guggenheim lowered their target price 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. Two analysts have rated the stock with a sell rating, five have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $60.65.

Insiders Place Their Bets

In other Ionis Pharmaceuticals news, CEO Brett P. Monia sold 6,630 shares of the company'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 completion of the transaction, the chief executive officer now owns 167,393 shares in the company, valued at approximately $6,369,303.65. This represents a 3.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Eric Swayze sold 1,194 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $37.92, for a total transaction of $45,276.48. Following the sale, the executive vice president now directly owns 33,713 shares in the company, valued at approximately $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. In the last 90 days, insiders have sold 7,877 shares of company stock worth $299,578. Corporate insiders own 2.71% of the company's stock.

Ionis Pharmaceuticals Stock Performance

Shares of IONS stock traded down $0.40 on Friday, hitting $36.61. The company had a trading volume of 1,070,411 shares, compared to its average volume of 1,333,200. Ionis Pharmaceuticals, Inc. has a twelve month low of $33.33 and a twelve month high of $54.44. 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 firm has a market cap of $5.78 billion, a P/E ratio of -15.00 and a beta of 0.35. The company has a 50-day moving average price of $37.52 and a 200-day moving average price of $42.31.

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.