Allostery Investments LP Sells 30,000 Shares of Ionis Pharmaceuticals, Inc. $IONS

Key Points

• Allostery Investments LP reduced its stake in Ionis Pharmaceuticals by 46.2%, selling 30,000 shares and retaining 35,000 shares, now representing 1.5% of its portfolio.
• Institutional investors own approximately 93.86% of Ionis Pharmaceuticals, with T. Rowe Price and Adage Capital showing significant increases in their positions during the same quarter.
• Ionis Pharmaceuticals reported a 100.9% year-over-year increase in quarterly revenue, with earnings per share of $0.70, surpassing analysts' expectations of $0.19.

Allostery Investments LP lessened its position in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Free Report) by 46.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,000 shares of the company's stock after selling 30,000 shares during the quarter. Ionis Pharmaceuticals comprises 1.5% of Allostery Investments LP's holdings, making the stock its 17th largest position. Allostery Investments LP's holdings in Ionis Pharmaceuticals were worth $1,056,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IONS. Signaturefd LLC raised its position in shares of Ionis Pharmaceuticals by 45.6% in the 1st quarter. Signaturefd LLC now owns 1,382 shares of the company's stock worth $42,000 after buying an additional 433 shares during the period. Ancora Advisors LLC bought a new stake in Ionis Pharmaceuticals during the first quarter valued at about $60,000. Raiffeisen Bank International AG bought a new position in Ionis Pharmaceuticals during the fourth quarter worth about $62,000. CWM LLC grew its holdings in Ionis Pharmaceuticals by 18.7% during the 1st quarter. CWM LLC now owns 2,435 shares of the company's stock worth $73,000 after acquiring an additional 384 shares during the period. Finally, Exchange Traded Concepts LLC lifted its position in Ionis Pharmaceuticals by 1,722.5% during the 1st quarter. Exchange Traded Concepts LLC now owns 3,244 shares of the company's stock worth $98,000 after buying an additional 3,066 shares in the last quarter. 93.86% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ionis Pharmaceuticals

In other Ionis Pharmaceuticals news, EVP Shannon L. Devers sold 3,162 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $61.02, for a total value of $192,945.24. Following the completion of the transaction, the executive vice president directly owned 15,009 shares of the company's stock, valued at approximately $915,849.18. This trade represents a 17.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Brett P. Monia sold 203,814 shares of the business's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $60.32, for a total transaction of $12,294,060.48. Following the completion of the sale, the chief executive officer directly owned 180,009 shares of the company's stock, valued at $10,858,142.88. The trade was a 53.10% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 464,141 shares of company stock worth $26,772,779. 2.71% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on IONS shares. BMO Capital Markets upgraded shares of Ionis Pharmaceuticals from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $40.00 to $70.00 in a report on Wednesday, September 3rd. Citigroup upped their price target on shares of Ionis Pharmaceuticals from $69.00 to $84.00 and gave the stock a "buy" rating in a report on Wednesday, September 3rd. Wall Street Zen upgraded Ionis Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Saturday, August 16th. Wells Fargo & Company boosted their price objective on Ionis Pharmaceuticals from $77.00 to $82.00 and gave the stock an "overweight" rating in a research report on Friday, August 22nd. Finally, HC Wainwright upped their price target on Ionis Pharmaceuticals from $70.00 to $95.00 and gave the stock a "buy" rating in a report on Tuesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Ionis Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus price target of $67.88.

Ionis Pharmaceuticals Price Performance

Ionis Pharmaceuticals stock traded down $1.08 during midday trading on Monday, reaching $60.15. The company's stock had a trading volume of 966,180 shares, compared to its average volume of 1,916,717. Ionis Pharmaceuticals, Inc. has a 52 week low of $23.95 and a 52 week high of $62.08. The company has a current ratio of 2.87, a quick ratio of 2.86 and a debt-to-equity ratio of 0.99. The business has a 50-day moving average price of $43.65 and a 200-day moving average price of $36.39. The stock has a market cap of $9.59 billion, a PE ratio of -32.67 and a beta of 0.28.

Ionis Pharmaceuticals (NASDAQ:IONS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.51. Ionis Pharmaceuticals had a negative return on equity of 45.29% and a negative net margin of 28.25%.The firm had revenue of $452.00 million during the quarter, compared to the consensus estimate of $270.90 million. During the same quarter in the prior year, the company earned ($0.45) EPS. The business's revenue for the quarter was up 100.9% on a year-over-year basis. Ionis Pharmaceuticals has set its FY 2025 guidance at EPS. On average, sell-side analysts predict 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.