Deep Track Capital LP Cuts Holdings in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

Deep Track Capital LP trimmed its holdings in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Free Report) by 12.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,933,928 shares of the company's stock after selling 266,072 shares during the quarter. Ionis Pharmaceuticals accounts for 2.5% of Deep Track Capital LP's portfolio, making the stock its 12th largest holding. Deep Track Capital LP owned approximately 1.22% of Ionis Pharmaceuticals worth $67,610,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the company. Xponance Inc. raised its position in Ionis Pharmaceuticals by 1.7% in the fourth quarter. Xponance Inc. now owns 19,339 shares of the company's stock worth $676,000 after acquiring an additional 318 shares during the period. Amalgamated Bank boosted its position in Ionis Pharmaceuticals by 3.4% during the fourth quarter. Amalgamated Bank now owns 10,292 shares of the company's stock valued at $360,000 after buying an additional 335 shares during the period. Vontobel Holding Ltd. grew its holdings in Ionis Pharmaceuticals by 6.6% in the 4th quarter. Vontobel Holding Ltd. now owns 5,865 shares of the company's stock worth $205,000 after acquiring an additional 363 shares during the last quarter. Commonwealth Equity Services LLC increased its position in Ionis Pharmaceuticals by 1.7% during the 4th quarter. Commonwealth Equity Services LLC now owns 21,826 shares of the company's stock valued at $763,000 after purchasing an additional 373 shares during the period. Finally, Treasurer of the State of North Carolina lifted its stake in shares of Ionis Pharmaceuticals by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 68,803 shares of the company's stock valued at $2,405,000 after purchasing an additional 440 shares during the period. 93.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Ionis Pharmaceuticals news, EVP Patrick R. O'neil sold 1,207 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $32.35, for a total value of $39,046.45. Following the completion of the transaction, the executive vice president now owns 56,245 shares of the company's stock, valued at $1,819,525.75. The trade was a 2.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael R. Hayden bought 15,000 shares of the stock in a transaction dated Thursday, May 1st. The stock was bought at an average cost of $31.86 per share, with a total value of $477,900.00. Following the purchase, the director now owns 50,219 shares in the company, valued at $1,599,977.34. The trade was a 42.59% increase in their position. The disclosure for this purchase can be found here. Insiders sold 2,027 shares of company stock worth $62,863 in the last quarter. 2.60% of the stock is owned by corporate insiders.

Ionis Pharmaceuticals Stock Performance

Shares of IONS traded up $1.51 during trading hours on Monday, hitting $33.77. The company had a trading volume of 481,975 shares, compared to its average volume of 1,562,548. The firm has a market cap of $5.37 billion, a price-to-earnings ratio of -11.11 and a beta of 0.15. Ionis Pharmaceuticals, Inc. has a 12 month low of $23.95 and a 12 month high of $52.34. The company has a quick ratio of 8.82, a current ratio of 8.47 and a debt-to-equity ratio of 2.12. The business has a fifty day moving average of $30.59 and a 200-day moving average of $33.39.

Ionis Pharmaceuticals (NASDAQ:IONS - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported ($0.93) earnings per share for the quarter, topping analysts' consensus estimates of ($1.07) by $0.14. Ionis Pharmaceuticals had a negative return on equity of 100.05% and a negative net margin of 64.25%. The business had revenue of $132.00 million for the quarter, compared to analyst estimates of $144.31 million. During the same quarter in the previous year, the company posted ($0.98) EPS. Ionis Pharmaceuticals's quarterly revenue was up 10.9% compared to the same quarter last year. Equities analysts anticipate that Ionis Pharmaceuticals, Inc. will post -3.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on IONS shares. JPMorgan Chase & Co. cut their target price on Ionis Pharmaceuticals from $47.00 to $45.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $70.00 price objective on shares of Ionis Pharmaceuticals in a report on Thursday, February 20th. Needham & Company LLC dropped their price target on shares of Ionis Pharmaceuticals from $60.00 to $55.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. HC Wainwright increased their target price on Ionis Pharmaceuticals from $45.00 to $50.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Finally, Citigroup dropped their price objective 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. Two analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $56.67.

Ionis Pharmaceuticals 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.