Truist Financial Corp Sells 501 Shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

Truist Financial Corp lowered its position in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 6.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,847 shares of the company’s stock after selling 501 shares during the period. Truist Financial Corp’s holdings in Ionis Pharmaceuticals were worth $239,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Geode Capital Management LLC boosted its stake in Ionis Pharmaceuticals by 7.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,668,358 shares of the company’s stock worth $106,922,000 after purchasing an additional 183,814 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Ionis Pharmaceuticals by 8.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,443,020 shares of the company’s stock worth $57,807,000 after purchasing an additional 114,914 shares during the period. ARK Investment Management LLC boosted its stake in Ionis Pharmaceuticals by 1.7% in the 3rd quarter. ARK Investment Management LLC now owns 1,384,269 shares of the company’s stock worth $55,454,000 after purchasing an additional 23,244 shares during the period. Two Sigma Advisers LP boosted its stake in Ionis Pharmaceuticals by 3.5% in the 3rd quarter. Two Sigma Advisers LP now owns 1,332,411 shares of the company’s stock worth $53,376,000 after purchasing an additional 45,300 shares during the period. Finally, Groupama Asset Managment boosted its stake in Ionis Pharmaceuticals by 4.1% in the 3rd quarter. Groupama Asset Managment now owns 916,060 shares of the company’s stock worth $367,000 after purchasing an additional 36,084 shares during the period. Institutional investors own 93.86% of the company’s stock.

Insider Buying and Selling at Ionis Pharmaceuticals

In other news, CEO Brett P. Monia sold 33,445 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $32.63, for a total transaction of $1,091,310.35. Following the transaction, the chief executive officer now directly owns 207,396 shares of the company’s stock, valued at approximately $6,767,331.48. This trade represents a 13.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Patrick R. O’neil sold 1,207 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $32.35, for a total transaction of $39,046.45. Following the transaction, the executive vice president now directly owns 56,245 shares in the company, valued at $1,819,525.75. This represents a 2.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 111,816 shares of company stock valued at $3,603,914 in the last three months. 2.71% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

IONS has been the subject of a number of research analyst reports. Citigroup reduced their target price on shares of Ionis Pharmaceuticals from $67.00 to $64.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Royal Bank of Canada restated an “outperform” rating and set a $70.00 price objective on shares of Ionis Pharmaceuticals in a research note on Thursday, February 20th. Piper Sandler reduced their price objective on shares of Ionis Pharmaceuticals from $65.00 to $62.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. Wells Fargo & Company reduced their price objective on shares of Ionis Pharmaceuticals from $82.00 to $77.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Finally, StockNews.com downgraded shares of Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $60.00.

Ionis Pharmaceuticals Stock Up 1.9 %

Ionis Pharmaceuticals stock opened at $34.39 on Friday. The stock has a market cap of $5.47 billion, a P/E ratio of -11.31 and a beta of 0.34. The company has a quick ratio of 8.82, a current ratio of 8.47 and a debt-to-equity ratio of 2.12. Ionis Pharmaceuticals, Inc. has a twelve month low of $30.23 and a twelve month high of $52.34. The company’s 50-day moving average price is $32.99 and its two-hundred day moving average price is $37.49.

Ionis Pharmaceuticals (NASDAQ:IONS) last released its quarterly earnings results on Wednesday, February 19th. The company reported ($0.66) earnings per share for the quarter, beating the consensus estimate of ($1.12) by $0.46. The firm had revenue of $227.00 million for the quarter, compared to analysts’ expectations of $140.97 million. Ionis Pharmaceuticals had a negative net margin of 64.25% and a negative return on equity of 100.05%. The business’s revenue was down 30.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.12 EPS. As a group, analysts expect that Ionis Pharmaceuticals, Inc. will post -3.5 EPS for the current year.

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.