Jump Financial LLC Increases Stock Position in Ionis Pharmaceuticals, Inc. $IONS

Key Points

• Jump Financial LLC boosted its stake in Ionis Pharmaceuticals by 104.6%, now owning 81,321 shares worth approximately $2.45 million as of its latest SEC filing.
• The company reported a strong quarterly earnings performance, with earnings per share of $0.70, surpassing estimates of $0.19, and revenue growth of over 100%.
• Recent analyst upgrades have raised Ionis Pharmaceuticals' price targets, with firms like Morgan Stanley increasing their target to $62.00, reflecting a positive outlook on the stock.

Jump Financial LLC lifted its position in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Free Report) by 104.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 81,321 shares of the company's stock after buying an additional 41,584 shares during the period. Jump Financial LLC owned approximately 0.05% of Ionis Pharmaceuticals worth $2,453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in IONS. CWM LLC raised its position in Ionis Pharmaceuticals by 18.7% in the first quarter. CWM LLC now owns 2,435 shares of the company's stock valued at $73,000 after purchasing an additional 384 shares during the period. Signaturefd LLC lifted its position in Ionis Pharmaceuticals by 45.6% in the first quarter. Signaturefd LLC now owns 1,382 shares of the company's stock valued at $42,000 after buying an additional 433 shares during the last quarter. Fifth Third Bancorp boosted its stake in Ionis Pharmaceuticals by 4.8% during the first quarter. Fifth Third Bancorp now owns 9,989 shares of the company's stock worth $301,000 after buying an additional 458 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Ionis Pharmaceuticals by 8.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,135 shares of the company's stock worth $185,000 after buying an additional 481 shares during the period. Finally, Victory Capital Management Inc. increased its position in shares of Ionis Pharmaceuticals by 3.5% during the first quarter. Victory Capital Management Inc. now owns 18,641 shares of the company's stock valued at $562,000 after acquiring an additional 637 shares during the last quarter. 93.86% of the stock is currently owned by institutional investors and hedge funds.

Ionis Pharmaceuticals Stock Up 0.0%

Shares of IONS stock traded up $0.01 during trading hours on Friday, reaching $42.63. 1,152,740 shares of the stock were exchanged, compared to its average volume of 2,032,717. The business's fifty day moving average is $41.96 and its two-hundred day moving average is $35.50. The firm has a market capitalization of $6.79 billion, a P/E ratio of -23.17 and a beta of 0.25. Ionis Pharmaceuticals, Inc. has a 12-month low of $23.95 and a 12-month high of $50.43. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.87 and a quick ratio of 2.86.

Ionis Pharmaceuticals (NASDAQ:IONS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.19 by $0.51. Ionis Pharmaceuticals had a negative net margin of 28.25% and a negative return on equity of 45.29%. The company had revenue of $452.00 million during the quarter, compared to analysts' expectations of $270.90 million. During the same quarter in the previous year, the business posted ($0.45) EPS. The firm's revenue was up 100.9% on a year-over-year basis. Ionis Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, research analysts expect that Ionis Pharmaceuticals, Inc. will post -3.5 EPS for the current fiscal year.

Insider Transactions at Ionis Pharmaceuticals

In other Ionis Pharmaceuticals news, Director B Lynne Parshall sold 5,000 shares of the firm's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $41.93, for a total value of $209,650.00. Following the sale, the director directly owned 86,344 shares in the company, valued at $3,620,403.92. This trade represents a 5.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Eugene Schneider sold 9,549 shares of the company's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $42.80, for a total value of $408,697.20. Following the transaction, the executive vice president directly owned 51,507 shares of the company's stock, valued at approximately $2,204,499.60. This represents a 15.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 39,568 shares of company stock valued at $1,705,296 over the last ninety days. Company insiders own 2.60% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Stifel Nicolaus set a $43.00 target price on shares of Ionis Pharmaceuticals in a report on Thursday, August 21st. Wall Street Zen upgraded Ionis Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Saturday, August 16th. Barclays lifted their target price on Ionis Pharmaceuticals from $57.00 to $58.00 and gave the company an "overweight" rating in a research report on Friday, August 22nd. Morgan Stanley raised shares of Ionis Pharmaceuticals from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $55.00 to $62.00 in a research report on Thursday, July 31st. Finally, HC Wainwright raised their price objective on shares of Ionis Pharmaceuticals from $65.00 to $70.00 and gave the company a "buy" rating in a research note on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Ionis Pharmaceuticals has a consensus rating of "Moderate Buy" and an average target price of $59.64.

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.