Ionis Pharmaceuticals (NASDAQ:IONS) Reaches New 52-Week Low After Insider Selling

Shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) hit a new 52-week low during mid-day trading on Monday following insider selling activity. The stock traded as low as $31.32 and last traded at $31.48, with a volume of 8464 shares. The stock had previously closed at $31.90.

Specifically, CFO Elizabeth L. Hougen sold 1,523 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $32.44, for a total value of $49,406.12. Following the completion of the transaction, the chief financial officer now directly owns 110,500 shares of the company’s stock, valued at $3,584,620. This represents a 1.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Brett P. Monia sold 13,242 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $32.45, for a total transaction of $429,702.90. Following the completion of the transaction, the chief executive officer now owns 219,526 shares of the company’s stock, valued at approximately $7,123,618.70. The trade was a 5.69 % decrease in their position. The disclosure for this sale can be found here. In other Ionis Pharmaceuticals news, EVP Eric Swayze sold 1,367 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $32.31, for a total transaction of $44,167.77. Following the transaction, the executive vice president now owns 48,017 shares of the company’s stock, valued at approximately $1,551,429.27. This trade represents a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Analyst Ratings Changes

IONS has been the topic of a number of research reports. Guggenheim lowered their target price on shares of Ionis Pharmaceuticals from $70.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Wells Fargo & Company cut their price target on Ionis Pharmaceuticals from $82.00 to $77.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. William Blair reissued an “outperform” rating on shares of Ionis Pharmaceuticals in a research note on Friday, December 20th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $70.00 target price on shares of Ionis Pharmaceuticals in a report on Wednesday, January 15th. Finally, Needham & Company LLC reissued a “buy” rating and set a $60.00 target price on shares of Ionis Pharmaceuticals in a research note on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $60.65.

Ionis Pharmaceuticals Stock Down 1.5 %

The business has a fifty day moving average of $35.00 and a 200 day moving average of $39.88. The company has a quick ratio of 8.82, a current ratio of 8.91 and a debt-to-equity ratio of 1.86.

Institutional Trading of Ionis Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in IONS. GAMMA Investing LLC boosted its holdings in Ionis Pharmaceuticals by 83.9% in the third quarter. GAMMA Investing LLC now owns 664 shares of the company’s stock worth $27,000 after purchasing an additional 303 shares during the period. Capital Performance Advisors LLP acquired a new stake in shares of Ionis Pharmaceuticals during the 3rd quarter worth approximately $40,000. Prospera Private Wealth LLC bought a new position in Ionis Pharmaceuticals during the 3rd quarter worth $42,000. Itau Unibanco Holding S.A. increased its position in Ionis Pharmaceuticals by 40.9% in the third quarter. Itau Unibanco Holding S.A. now owns 1,081 shares of the company’s stock worth $43,000 after buying an additional 314 shares during the period. Finally, Quantbot Technologies LP bought a new stake in Ionis Pharmaceuticals in the third quarter valued at $51,000. Institutional investors own 93.86% of the company’s stock.

About Ionis Pharmaceuticals

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.