PDT Partners LLC Raises Stock Holdings in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

PDT Partners LLC increased its position in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Free Report) by 116.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,994 shares of the company's stock after purchasing an additional 15,594 shares during the period. PDT Partners LLC's holdings in Ionis Pharmaceuticals were worth $1,014,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Schonfeld Strategic Advisors LLC increased its stake in shares of Ionis Pharmaceuticals by 2.3% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 371,381 shares of the company's stock valued at $12,983,000 after buying an additional 8,493 shares during the period. Northern Trust Corp increased its position in Ionis Pharmaceuticals by 13.1% during the 4th quarter. Northern Trust Corp now owns 840,271 shares of the company's stock valued at $29,376,000 after buying an additional 97,367 shares in the last quarter. Quarry LP purchased a new position in shares of Ionis Pharmaceuticals in the 4th quarter valued at approximately $210,000. Aquatic Capital Management LLC acquired a new stake in shares of Ionis Pharmaceuticals during the fourth quarter worth $8,041,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Ionis Pharmaceuticals during the 4th quarter valued at about $7,447,000. 93.86% of the stock is owned by institutional investors.

Ionis Pharmaceuticals Stock Down 1.8 %

Shares of IONS stock traded down $0.62 during trading hours on Tuesday, reaching $33.03. 454,700 shares of the stock were exchanged, compared to its average volume of 1,552,032. The business's fifty day moving average is $30.60 and its two-hundred day moving average is $33.56. The firm has a market capitalization of $5.25 billion, a P/E ratio of -10.91 and a beta of 0.29. Ionis Pharmaceuticals, Inc. has a 12-month low of $23.95 and a 12-month high of $52.34. The company has a debt-to-equity ratio of 2.12, a current ratio of 8.47 and a quick ratio of 8.82.

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

Insider Activity at Ionis Pharmaceuticals

In related news, Director Michael R. Hayden purchased 15,000 shares of the company's stock in a transaction on Thursday, May 1st. The shares were bought at an average cost of $31.86 per share, for a total transaction of $477,900.00. Following the completion of the purchase, the director now directly owns 50,219 shares of the company's stock, valued at approximately $1,599,977.34. This trade represents a 42.59 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Patrick R. O'neil sold 1,207 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $32.35, for a total transaction of $39,046.45. Following the sale, the executive vice president now owns 56,245 shares of the company's stock, valued at $1,819,525.75. This represents a 2.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,027 shares of company stock valued at $62,863 over the last quarter. 2.71% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Royal Bank of Canada restated an "outperform" rating and set a $70.00 target price on shares of Ionis Pharmaceuticals in a research report on Thursday, February 20th. Citigroup lowered their target price on Ionis Pharmaceuticals from $67.00 to $64.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. StockNews.com upgraded shares of Ionis Pharmaceuticals to a "sell" rating in a research report on Tuesday, March 18th. HC Wainwright upped their target price on Ionis Pharmaceuticals from $45.00 to $50.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Finally, Guggenheim lowered their price objective on Ionis Pharmaceuticals from $65.00 to $64.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Two research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $56.67.

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.