Fifth Third Bancorp Sells 2,391 Shares of Ionis Pharmaceuticals, Inc. $IONS

Fifth Third Bancorp reduced its position in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 23.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,598 shares of the company’s stock after selling 2,391 shares during the quarter. Fifth Third Bancorp’s holdings in Ionis Pharmaceuticals were worth $300,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. raised its holdings in Ionis Pharmaceuticals by 14.2% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 16,175,533 shares of the company’s stock valued at $488,016,000 after buying an additional 2,006,334 shares during the last quarter. BVF Inc. IL purchased a new position in Ionis Pharmaceuticals during the 1st quarter valued at $57,727,000. TD Asset Management Inc increased its position in Ionis Pharmaceuticals by 4.8% during the 1st quarter. TD Asset Management Inc now owns 1,100,466 shares of the company’s stock valued at $33,201,000 after purchasing an additional 50,476 shares during the period. Adage Capital Partners GP L.L.C. increased its position in Ionis Pharmaceuticals by 291.1% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,075,600 shares of the company’s stock valued at $32,451,000 after purchasing an additional 800,600 shares during the period. Finally, Groupama Asset Managment increased its position in Ionis Pharmaceuticals by 5.1% during the 1st quarter. Groupama Asset Managment now owns 1,069,211 shares of the company’s stock valued at $32,258,000 after purchasing an additional 52,020 shares during the period. 93.86% of the stock is currently owned by institutional investors.

Ionis Pharmaceuticals Stock Performance

Shares of Ionis Pharmaceuticals stock opened at $65.42 on Wednesday. The stock has a market cap of $10.43 billion, a price-to-earnings ratio of -35.55 and a beta of 0.28. The firm’s 50-day moving average is $50.72 and its 200 day moving average is $39.91. Ionis Pharmaceuticals, Inc. has a 1 year low of $23.95 and a 1 year high of $65.55. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.87 and a quick ratio of 2.86.

Ionis Pharmaceuticals (NASDAQ:IONS) last posted its earnings results on Wednesday, July 30th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.51. The business had revenue of $452.00 million for the quarter, compared to analysts’ expectations of $270.90 million. Ionis Pharmaceuticals had a negative net margin of 28.25% and a negative return on equity of 45.29%. The business’s revenue for the quarter was up 100.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.45) EPS. Ionis Pharmaceuticals has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Ionis Pharmaceuticals, Inc. will post -3.5 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on IONS shares. Wells Fargo & Company boosted their price objective on shares of Ionis Pharmaceuticals from $77.00 to $82.00 and gave the company an “overweight” rating in a research report on Friday, August 22nd. Stifel Nicolaus set a $43.00 price objective on shares of Ionis Pharmaceuticals in a research report on Thursday, August 21st. Citigroup boosted their price objective on shares of Ionis Pharmaceuticals from $69.00 to $84.00 and gave the company a “buy” rating in a research report on Wednesday, September 3rd. Raymond James Financial set a $75.00 price objective on shares of Ionis Pharmaceuticals and gave the company a “strong-buy” rating in a research report on Monday, September 22nd. Finally, Wall Street Zen raised shares of Ionis Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, August 16th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Ionis Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $73.88.

Insider Buying and Selling at Ionis Pharmaceuticals

In other Ionis Pharmaceuticals news, Director B Lynne Parshall sold 20,000 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $50.91, for a total transaction of $1,018,200.00. Following the transaction, the director owned 66,344 shares in the company, valued at approximately $3,377,573.04. This represents a 23.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Patrick R. O’neil sold 76,850 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $60.97, for a total transaction of $4,685,544.50. Following the transaction, the executive vice president owned 5,655 shares in the company, valued at $344,785.35. This represents a 93.15% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 492,841 shares of company stock worth $28,595,925. 2.71% of the stock is owned by company insiders.

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.