Amova Asset Management Americas Inc. Decreases Holdings in Ionis Pharmaceuticals, Inc. $IONS

Amova Asset Management Americas Inc. lessened its stake in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 18.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 114,592 shares of the company’s stock after selling 25,147 shares during the quarter. Amova Asset Management Americas Inc. owned approximately 0.07% of Ionis Pharmaceuticals worth $7,494,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Steigerwald Gordon & Koch Inc. bought a new position in Ionis Pharmaceuticals in the 3rd quarter worth about $25,000. Golden State Wealth Management LLC raised its position in Ionis Pharmaceuticals by 198.4% in the 3rd quarter. Golden State Wealth Management LLC now owns 376 shares of the company’s stock worth $25,000 after purchasing an additional 250 shares during the period. Mather Group LLC. purchased a new position in shares of Ionis Pharmaceuticals in the third quarter worth about $27,000. Allworth Financial LP increased its stake in shares of Ionis Pharmaceuticals by 231.8% in the second quarter. Allworth Financial LP now owns 740 shares of the company’s stock worth $29,000 after buying an additional 517 shares during the period. Finally, Meeder Asset Management Inc. increased its holdings in Ionis Pharmaceuticals by 620.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 713 shares of the company’s stock valued at $47,000 after purchasing an additional 614 shares during the period. 93.86% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on IONS shares. Piper Sandler increased their price objective on Ionis Pharmaceuticals from $87.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, February 27th. Stifel Nicolaus increased their price objective on Ionis Pharmaceuticals from $73.00 to $77.00 and gave the company a “hold” rating in a research report on Thursday, February 26th. Wall Street Zen cut shares of Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Ionis Pharmaceuticals in a research note on Thursday, January 22nd. Finally, Needham & Company LLC upped their price target on Ionis Pharmaceuticals from $90.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $89.00.

Ionis Pharmaceuticals Trading Up 1.0%

NASDAQ IONS opened at $79.45 on Thursday. Ionis Pharmaceuticals, Inc. has a one year low of $23.95 and a one year high of $86.74. The company has a debt-to-equity ratio of 2.76, a quick ratio of 3.81 and a current ratio of 3.83. The company has a market capitalization of $13.12 billion, a price-to-earnings ratio of -32.56 and a beta of 0.31. The company’s 50-day simple moving average is $81.29 and its two-hundred day simple moving average is $72.89.

Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings data on Wednesday, February 25th. The company reported ($1.41) EPS for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.18). Ionis Pharmaceuticals had a negative return on equity of 68.82% and a negative net margin of 40.36%.The business had revenue of $203.00 million during the quarter, compared to the consensus estimate of $156.07 million. During the same period last year, the firm earned ($0.66) EPS. The business’s quarterly revenue was down 10.6% on a year-over-year basis. Equities analysts forecast that Ionis Pharmaceuticals, Inc. will post -3.5 EPS for the current fiscal year.

Insider Buying and Selling at Ionis Pharmaceuticals

In other news, EVP Brian Birchler sold 6,179 shares of the company’s stock in a transaction on Friday, January 30th. The stock was sold at an average price of $83.03, for a total transaction of $513,042.37. Following the transaction, the executive vice president directly owned 66,247 shares of the company’s stock, valued at approximately $5,500,488.41. This represents a 8.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Brett P. Monia sold 29,430 shares of the business’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $85.79, for a total value of $2,524,799.70. Following the transaction, the chief executive officer owned 254,497 shares in the company, valued at approximately $21,833,297.63. This trade represents a 10.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 436,579 shares of company stock valued at $35,367,233. 2.60% of the stock is currently owned by corporate insiders.

About Ionis Pharmaceuticals

Ionis Pharmaceuticals, Inc is a biotechnology company focused on the discovery and development of RNA-targeted therapies designed to modulate gene expression. The company’s proprietary antisense oligonucleotide (ASO) technology enables the selective binding of short synthetic strands of nucleic acids to messenger RNA (mRNA), thereby inhibiting or altering the production of disease-causing proteins. Ionis’ pipeline spans a range of therapeutic areas, including neurological disorders, cardiovascular conditions, metabolic diseases and rare genetic disorders.

Since its founding in 1989 by Dr.