Squarepoint Ops LLC Cuts Stock Holdings in Ionis Pharmaceuticals, Inc. $IONS

Key Points

• Squarepoint Ops LLC slashed its Ionis Pharmaceuticals stake by 84.3% in the second quarter, selling 585,897 shares and retaining 109,379 shares worth approximately $8.7 million. Institutional investors still own 93.86% of the company.
• Ionis insiders sold shares recently, including CEO Brett Monia’s $4.0 million sale and EVP Eric Swayze’s $839,000 sale; both transactions were conducted under pre-arranged Rule 10b5-1 plans.
• Analysts remain broadly positive, with 17 Buy ratings and an average price target of $91.25, but several firms have reduced their targets. The stock opened at $55.65, down 0.7%, amid recent analyst-driven pressure.

Squarepoint Ops LLC reduced its stake in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Free Report) by 84.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 109,379 shares of the company's stock after selling 585,897 shares during the period. Squarepoint Ops LLC owned approximately 0.07% of Ionis Pharmaceuticals worth $8,673,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brown Brothers Harriman & Co. purchased a new position in shares of Ionis Pharmaceuticals during the fourth quarter valued at about $27,000. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Ionis Pharmaceuticals in the first quarter worth about $30,000. Quarry LP bought a new position in Ionis Pharmaceuticals during the third quarter valued at approximately $38,000. Allworth Financial LP bought a new position in Ionis Pharmaceuticals during the second quarter valued at approximately $41,000. Finally, Silvant Capital Management LLC purchased a new position in Ionis Pharmaceuticals during the 2nd quarter valued at approximately $43,000. Institutional investors own 93.86% of the company's stock.

Ionis Pharmaceuticals News Summary

Here are the key news stories impacting Ionis Pharmaceuticals this week:

• Positive Sentiment: HC Wainwright modestly improved its earnings outlook. The firm raised its EPS estimates for the fourth quarter of 2026, the first and second quarters of 2027, and full-year 2027. It maintained a Buy rating and a $100 price target, although it still expects Ionis to report losses through most of the forecast period. HC Wainwright estimates
• Positive Sentiment: Bank of America Securities reiterated its Buy rating on Ionis, providing some support for the stock and signaling that the firm continues to see upside despite recent weakness. Bank of America rating
• Neutral Sentiment: Ionis presented at the Wells Fargo 21st Annual Healthcare Conference. The transcript may provide additional detail on its pipeline and commercial outlook, but no specific new catalyst was identified in the available report. Wells Fargo conference transcript
• Negative Sentiment: Analyst pessimism appears to be the main near-term pressure. Ionis shares reportedly gapped down following an analyst downgrade, while separate reports highlighted bearish forecasts from Canaccord Genuity and HC Wainwright. This likely outweighed the modestly improved earnings estimates and Buy ratings. Ionis shares gap down after downgrade
• Neutral Sentiment: The reported short-interest data shows zero shares short both currently and in the prior period, but the figures appear incomplete or erroneous and therefore offer no reliable trading signal.

Insider Activity at Ionis Pharmaceuticals

In related news, EVP Eric Swayze sold 10,602 shares of the stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $79.18, for a total value of $839,466.36. Following the sale, the executive vice president directly owned 21,759 shares of the company's stock, valued at $1,722,877.62. This represents a 32.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brett Monia sold 50,000 shares of the firm's stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $80.59, for a total transaction of $4,029,500.00. Following the completion of the sale, the chief executive officer directly owned 245,571 shares of the company's stock, valued at approximately $19,790,566.89. The trade was a 16.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 164,317 shares of company stock worth $13,244,486 in the last three months. 1.81% of the stock is owned by insiders.

Ionis Pharmaceuticals Trading Down 0.7%

IONS stock opened at $55.65 on Friday. Ionis Pharmaceuticals, Inc. has a twelve month low of $50.01 and a twelve month high of $86.74. The stock has a market capitalization of $9.25 billion, a price-to-earnings ratio of -16.08 and a beta of 0.42. The company has a quick ratio of 7.73, a current ratio of 7.89 and a debt-to-equity ratio of 3.07. The firm's fifty day simple moving average is $59.36 and its two-hundred day simple moving average is $69.76.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on IONS shares. Canaccord Genuity Group decreased their price objective on Ionis Pharmaceuticals from $95.00 to $85.00 and set a "buy" rating on the stock in a report on Tuesday. Raymond James Financial restated an "outperform" rating and issued a $84.00 price target on shares of Ionis Pharmaceuticals in a research report on Tuesday. TD Cowen reiterated a "buy" rating on shares of Ionis Pharmaceuticals in a research report on Tuesday. JPMorgan Chase & Co. boosted their target price on shares of Ionis Pharmaceuticals from $72.00 to $76.00 and gave the stock an "overweight" rating in a report on Monday, August 3rd. Finally, Jefferies Financial Group decreased their target price on shares of Ionis Pharmaceuticals from $113.00 to $90.00 and set a "buy" rating on the stock in a research report on Thursday, July 9th. Seventeen investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $91.25.

About Ionis Pharmaceuticals

Ionis Pharmaceuticals, Inc is a biotechnology company that discovers and develops medicines using antisense technology, which is designed to target RNA and influence the production of disease-related proteins. The company focuses on neurological, cardiovascular, metabolic and other serious diseases for which there remains a significant unmet medical need.

Ionis has developed several approved therapies, including SPINRAZA (nusinersen) for spinal muscular atrophy, QALSODY (tofersen) for a form of amyotrophic lateral sclerosis, TEGSEDI (inotersen) for hereditary transthyretin-mediated amyloidosis and WAYLIVRA (volanesorsen) for familial chylomicronemia syndrome in certain markets.

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