Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its position in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 24.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,112 shares of the company’s stock after selling 4,346 shares during the quarter. Principal Financial Group Inc.’s holdings in Ionis Pharmaceuticals were worth $525,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of IONS. GAMMA Investing LLC increased its position in shares of Ionis Pharmaceuticals by 83.9% during the 3rd quarter. GAMMA Investing LLC now owns 664 shares of the company’s stock worth $27,000 after purchasing an additional 303 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of Ionis Pharmaceuticals during the second quarter worth about $29,000. Itau Unibanco Holding S.A. purchased a new position in Ionis Pharmaceuticals during the 2nd quarter worth $37,000. Mather Group LLC. lifted its position in Ionis Pharmaceuticals by 35.8% during the 2nd 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, Advisors Asset Management Inc. raised its holdings in Ionis Pharmaceuticals by 948.8% during the first quarter. Advisors Asset Management Inc. now owns 3,178 shares of the company’s stock worth $138,000 after purchasing an additional 2,875 shares in the last quarter. Hedge funds and other institutional investors own 93.86% of the company’s stock.

Insider Activity

In other Ionis Pharmaceuticals news, EVP Eric Swayze sold 1,194 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $37.92, for a total value of $45,276.48. Following the completion of the transaction, 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Brett P. Monia sold 6,630 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $38.05, for a total value of $252,271.50. Following the sale, the chief executive officer now owns 167,393 shares of the company’s stock, valued at $6,369,303.65. The trade was a 3.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,197 shares of company stock worth $315,310 over the last 90 days. 2.71% of the stock is currently owned by company insiders.

Ionis Pharmaceuticals Stock Up 0.2 %

Shares of Ionis Pharmaceuticals stock opened at $34.01 on Monday. The company has a market capitalization of $5.37 billion, a P/E ratio of -13.94 and a beta of 0.39. The business’s fifty day moving average price is $38.70 and its two-hundred day moving average price is $42.49. Ionis Pharmaceuticals, Inc. has a 1-year low of $33.33 and a 1-year high of $54.44. The company has a debt-to-equity ratio of 1.86, a current ratio of 8.91 and a quick ratio of 8.82.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Piper Sandler lowered their price target on Ionis Pharmaceuticals from $65.00 to $62.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. Guggenheim decreased their price target on shares of Ionis Pharmaceuticals from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $70.00 price target on shares of Ionis Pharmaceuticals in a research report on Thursday, September 26th. Barclays increased their price objective on shares of Ionis Pharmaceuticals from $45.00 to $51.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Finally, 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. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $60.65.

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.