Ionis Pharmaceuticals, Inc. $IONS Shares Acquired by China Universal Asset Management Co. Ltd.

Key Points

• China Universal Asset Management boosted its stake in Ionis by 51.7% in Q4, buying an additional 14,455 shares to hold 42,394 shares worth about $3.35 million.
• Company insiders have been heavy sellers, disposing of a total of 864,155 shares valued at roughly $67.0 million in the past 90 days, leaving insiders with about 2.60% ownership.
• In its most recent quarter (Feb. 25), Ionis reported an EPS miss of ($1.41) versus ($1.23) expected while revenue of $203.33 million beat estimates but was down 10.6% year‑over‑year.

China Universal Asset Management Co. Ltd. grew its position in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Free Report) by 51.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 42,394 shares of the company's stock after purchasing an additional 14,455 shares during the period. China Universal Asset Management Co. Ltd.'s holdings in Ionis Pharmaceuticals were worth $3,354,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Steigerwald Gordon & Koch Inc. acquired a new stake in Ionis Pharmaceuticals during the third quarter worth about $25,000. Golden State Wealth Management LLC grew its holdings in Ionis Pharmaceuticals by 198.4% during the third quarter. Golden State Wealth Management LLC now owns 376 shares of the company's stock worth $25,000 after acquiring an additional 250 shares during the period. Mather Group LLC. acquired a new stake in Ionis Pharmaceuticals during the third quarter worth about $27,000. Quarry LP acquired a new stake in Ionis Pharmaceuticals during the third quarter worth about $38,000. Finally, Johnson Financial Group Inc. acquired a new stake in Ionis Pharmaceuticals during the third quarter worth about $44,000. 93.86% of the stock is owned by institutional investors and hedge funds.

Ionis Pharmaceuticals Stock Performance

Shares of IONS stock opened at $74.09 on Friday. The company has a market capitalization of $12.24 billion, a P/E ratio of -30.36 and a beta of 0.40. The business's 50 day moving average is $76.12 and its two-hundred day moving average is $77.13. The company has a current ratio of 3.83, a quick ratio of 3.81 and a debt-to-equity ratio of 2.76. Ionis Pharmaceuticals, Inc. has a 12-month low of $28.79 and a 12-month high of $86.74.

Ionis Pharmaceuticals (NASDAQ:IONS - Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The company reported ($1.41) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.23) by ($0.18). The business had revenue of $203.33 million for the quarter, compared to analysts' expectations of $156.07 million. Ionis Pharmaceuticals had a negative return on equity of 68.82% and a negative net margin of 40.36%.The business's revenue for the quarter was down 10.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.66) EPS. Analysts expect that Ionis Pharmaceuticals, Inc. will post -4.14 EPS for the current fiscal year.

Analyst Ratings Changes

IONS has been the topic of several analyst reports. HC Wainwright raised their target price on Ionis Pharmaceuticals from $110.00 to $120.00 and gave the stock a "buy" rating in a report on Wednesday, March 25th. Stifel Nicolaus raised their target price on Ionis Pharmaceuticals from $73.00 to $77.00 and gave the stock a "hold" rating in a report on Thursday, February 26th. Raymond James Financial initiated coverage on Ionis Pharmaceuticals in a report on Friday, April 10th. They set an "outperform" rating and a $104.00 target price on the stock. TD Cowen dropped their target price on Ionis Pharmaceuticals from $110.00 to $108.00 and set a "buy" rating on the stock in a report on Thursday. Finally, Canaccord Genuity Group initiated coverage on Ionis Pharmaceuticals in a report on Monday. They set a "buy" rating and a $110.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $97.35.

Insider Activity at Ionis Pharmaceuticals

In other Ionis Pharmaceuticals news, Director Allene M. Diaz sold 54,878 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $79.35, for a total transaction of $4,354,569.30. Following the transaction, the director owned 3,811 shares in the company, valued at approximately $302,402.85. This represents a 93.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP C Frank Bennett sold 85,089 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $82.93, for a total value of $7,056,430.77. Following the transaction, the executive vice president owned 80,293 shares in the company, valued at $6,658,698.49. This represents a 51.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 864,155 shares of company stock valued at $67,020,422 in the last ninety days. 2.60% of the stock is currently owned by company insiders.

Ionis Pharmaceuticals Profile

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.

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