Tema Etfs LLC Sells 31,703 Shares of Ionis Pharmaceuticals, Inc. $IONS

Key Points

• Tema Etfs LLC has reduced its stake in Ionis Pharmaceuticals by 55.8%, selling 31,703 shares and leaving them with 25,141 shares valued at $759,000.
• Multiple analysts have updated their price targets for Ionis, with Wells Fargo raising it from $77 to $82, while the average price target now stands at $59.64.
• Insider trading activity includes Director B Lynne Parshall selling 5,000 shares for approximately $209,650, which decreased their ownership by 5.47%.

Tema Etfs LLC decreased its position in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Free Report) by 55.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,141 shares of the company's stock after selling 31,703 shares during the quarter. Tema Etfs LLC's holdings in Ionis Pharmaceuticals were worth $759,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC boosted its position in Ionis Pharmaceuticals by 3,786.5% during the first quarter. GAMMA Investing LLC now owns 28,993 shares of the company's stock valued at $961,000 after buying an additional 28,247 shares during the period. Fifth Third Bancorp raised its stake in shares of Ionis Pharmaceuticals by 4.8% during the first quarter. Fifth Third Bancorp now owns 9,989 shares of the company's stock valued at $301,000 after acquiring an additional 458 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Ionis Pharmaceuticals by 20.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,450 shares of the company's stock valued at $330,000 after acquiring an additional 1,625 shares during the last quarter. CWM LLC raised its stake in shares of Ionis Pharmaceuticals by 18.7% during the first quarter. CWM LLC now owns 2,435 shares of the company's stock valued at $73,000 after acquiring an additional 384 shares during the last quarter. Finally, Orbimed Advisors LLC raised its stake in shares of Ionis Pharmaceuticals by 21.2% during the fourth quarter. Orbimed Advisors LLC now owns 2,817,347 shares of the company's stock valued at $98,494,000 after acquiring an additional 492,900 shares during the last quarter. Institutional investors own 93.86% of the company's stock.

Ionis Pharmaceuticals Price Performance

Shares of IONS stock traded up $0.01 on Monday, hitting $42.63. 1,152,740 shares of the stock traded hands, compared to its average volume of 1,973,962. The firm has a market cap of $6.79 billion, a price-to-earnings ratio of -23.17 and a beta of 0.28. Ionis Pharmaceuticals, Inc. has a 52 week low of $23.95 and a 52 week high of $50.43. The firm has a 50 day simple moving average of $41.96 and a two-hundred day simple moving average of $35.54. 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 announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.19 by $0.51. The firm had revenue of $452.00 million for the quarter, compared to the consensus estimate of $270.90 million. Ionis Pharmaceuticals had a negative net margin of 28.25% and a negative return on equity of 45.29%. The company's revenue was up 100.9% on a year-over-year basis. During the same period last year, the firm earned ($0.45) EPS. Ionis Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Ionis Pharmaceuticals, Inc. will post -3.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on IONS. Stifel Nicolaus set a $43.00 price target on shares of Ionis Pharmaceuticals in a research note on Thursday, August 21st. HC Wainwright increased their price target on shares of Ionis Pharmaceuticals from $65.00 to $70.00 and gave the company a "buy" rating in a report on Friday, August 22nd. Needham & Company LLC restated a "buy" rating and issued a $55.00 target price on shares of Ionis Pharmaceuticals in a report on Monday, August 25th. Piper Sandler raised their target price on shares of Ionis Pharmaceuticals from $62.00 to $65.00 and gave the stock an "overweight" rating in a report on Friday, August 22nd. Finally, Citigroup lifted their price target on shares of Ionis Pharmaceuticals from $65.00 to $69.00 and gave the stock a "buy" rating in a research note on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $59.64.

Insider Activity

In other Ionis Pharmaceuticals news, Director B Lynne Parshall sold 5,000 shares of Ionis Pharmaceuticals stock in a transaction on Wednesday, August 6th. The shares were 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 approximately $3,620,403.92. The trade was a 5.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Allene M. Diaz sold 1,427 shares of Ionis Pharmaceuticals stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $42.53, for a total transaction of $60,690.31. Following the completion of the sale, the director owned 18,368 shares in the company, valued at approximately $781,191.04. This represents a 7.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 39,568 shares of company stock worth $1,705,296. 2.71% of the stock is currently owned by insiders.

About Ionis Pharmaceuticals

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.