Quest Partners LLC Has $107,000 Stock Holdings in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

Quest Partners LLC grew its position in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 94.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,674 shares of the company’s stock after purchasing an additional 1,301 shares during the period. Quest Partners LLC’s holdings in Ionis Pharmaceuticals were worth $107,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. nVerses Capital LLC acquired a new stake in shares of Ionis Pharmaceuticals during the second quarter worth $29,000. GAMMA Investing LLC raised its holdings in shares of Ionis Pharmaceuticals by 83.9% during the third quarter. GAMMA Investing LLC now owns 664 shares of the company’s stock worth $27,000 after acquiring an additional 303 shares during the period. Itau Unibanco Holding S.A. acquired a new stake in shares of Ionis Pharmaceuticals during the second quarter worth $37,000. Mather Group LLC. raised its holdings in shares of Ionis Pharmaceuticals by 35.8% during the second quarter. Mather Group LLC. now owns 911 shares of the company’s stock worth $39,000 after acquiring an additional 240 shares during the period. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Ionis Pharmaceuticals during the third quarter worth $40,000. 93.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IONS has been the subject of a number of analyst reports. Piper Sandler decreased 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 report on Thursday, November 14th. Guggenheim decreased 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 report on Wednesday, October 9th. Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 target price on shares of Ionis Pharmaceuticals in a research report on Thursday, November 7th. StockNews.com downgraded shares of Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company decreased their target price on shares of Ionis Pharmaceuticals from $82.00 to $77.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Two research 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 company. According to data from MarketBeat, Ionis Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $60.65.

Ionis Pharmaceuticals Price Performance

Shares of Ionis Pharmaceuticals stock opened at $35.73 on Friday. 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 company has a 50-day simple moving average of $38.21 and a two-hundred day simple moving average of $42.35. The stock has a market capitalization of $5.64 billion, a price-to-earnings ratio of -14.64 and a beta of 0.39.

Insiders Place Their Bets

In other news, CEO Brett P. Monia sold 6,630 shares of the business’s stock in a transaction that occurred on 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 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Eric Swayze sold 1,194 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Tuesday, November 12th. The shares were 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 $1,278,396.96. This trade represents a 3.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,877 shares of company stock worth $299,578 in the last quarter. 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.