Ghisallo Capital Management LLC Sells 300,000 Shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

Ghisallo Capital Management LLC reduced its holdings in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Free Report) by 75.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 100,000 shares of the company's stock after selling 300,000 shares during the quarter. Ghisallo Capital Management LLC owned approximately 0.06% of Ionis Pharmaceuticals worth $3,496,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Ionis Pharmaceuticals by 9.4% during the fourth quarter. Vanguard Group Inc. now owns 16,472,539 shares of the company's stock worth $575,880,000 after acquiring an additional 1,416,781 shares during the period. Capital World Investors raised its stake in shares of Ionis Pharmaceuticals by 46.5% in the fourth quarter. Capital World Investors now owns 11,465,413 shares of the company's stock valued at $400,831,000 after buying an additional 3,637,041 shares during the period. Geode Capital Management LLC raised its stake in shares of Ionis Pharmaceuticals by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 2,687,248 shares of the company's stock valued at $93,976,000 after buying an additional 18,890 shares during the period. Norges Bank bought a new stake in shares of Ionis Pharmaceuticals in the fourth quarter valued at $59,948,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Ionis Pharmaceuticals by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,481,440 shares of the company's stock valued at $51,791,000 after buying an additional 38,420 shares during the period. 93.86% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Ionis Pharmaceuticals

In other Ionis Pharmaceuticals news, CEO Brett P. Monia sold 13,242 shares of the business's stock in a transaction on Friday, January 31st. The shares were sold at an average price of $32.45, for a total transaction of $429,702.90. Following the transaction, the chief executive officer now directly owns 219,526 shares of the company's stock, valued at approximately $7,123,618.70. The trade was a 5.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Patrick R. O'neil sold 1,207 shares of the business's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $32.35, for a total transaction of $39,046.45. Following the transaction, the executive vice president now directly owns 56,245 shares in the company, valued at approximately $1,819,525.75. The trade was a 2.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 63,167 shares of company stock valued at $2,010,458. 2.71% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the company. HC Wainwright boosted their target price on Ionis Pharmaceuticals from $45.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday. Guggenheim decreased their price objective on Ionis Pharmaceuticals from $65.00 to $64.00 and set a "buy" rating on the stock in a research note on Thursday. Redburn Atlantic initiated coverage on Ionis Pharmaceuticals in a research note on Monday, March 31st. They set a "neutral" rating and a $39.00 price objective on the stock. Royal Bank of Canada reiterated an "outperform" rating and set a $70.00 price objective on shares of Ionis Pharmaceuticals in a research note on Thursday, February 20th. Finally, Needham & Company LLC decreased their price objective on Ionis Pharmaceuticals from $60.00 to $55.00 and set a "buy" rating on the stock in a research note on Wednesday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Ionis Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus target price of $56.67.

Ionis Pharmaceuticals Trading Up 3.7 %

Shares of NASDAQ IONS traded up $1.14 during mid-day trading on Thursday, hitting $31.85. The stock had a trading volume of 1,212,229 shares, compared to its average volume of 1,703,495. The company has a debt-to-equity ratio of 2.12, a quick ratio of 8.82 and a current ratio of 8.47. Ionis Pharmaceuticals, Inc. has a 1 year low of $23.95 and a 1 year high of $52.34. The business has a 50 day moving average price of $30.54 and a two-hundred day moving average price of $33.76. The firm has a market cap of $5.06 billion, a P/E ratio of -10.48 and a beta of 0.29.

Ionis Pharmaceuticals (NASDAQ:IONS - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported ($0.93) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.07) by $0.14. The business had revenue of $132.00 million for the quarter, compared to the consensus estimate of $144.31 million. Ionis Pharmaceuticals had a negative net margin of 64.25% and a negative return on equity of 100.05%. The company's quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.98) EPS. On average, equities analysts anticipate that Ionis Pharmaceuticals, Inc. will post -3.5 EPS for the current fiscal year.

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.