Key Points
- EVP C. Frank Bennett sold 85,089 shares of Ionis on Feb. 2 at an average price of $82.93, generating about $7.06 million in proceeds.
- After the sale Bennett directly owns 80,293 shares, a 51.45% decrease in his stake valued at roughly $6.66 million.
- Ionis (NASDAQ:IONS) has a market cap of $13.77 billion and is trading near its 1‑year high ($86.15); analysts have a consensus rating of "Moderate Buy" with an average target of $86.45.
Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Get Free Report) EVP C Frank Bennett sold 85,089 shares of the company's stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $82.93, for a total value of $7,056,430.77. Following the sale, the executive vice president directly owned 80,293 shares of the company's stock, valued at approximately $6,658,698.49. This represents a 51.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
C Frank Bennett also recently made the following trade(s):
- On Friday, January 30th, C Frank Bennett sold 5,885 shares of Ionis Pharmaceuticals stock. The shares were sold at an average price of $82.95, for a total value of $488,160.75.
- On Friday, January 30th, C Frank Bennett sold 5,885 shares of Ionis Pharmaceuticals stock. The shares were sold at an average price of $82.95, for a total value of $488,160.75.
- On Friday, January 16th, C Frank Bennett sold 8,977 shares of Ionis Pharmaceuticals stock. The stock was sold at an average price of $75.15, for a total value of $674,621.55.
Ionis Pharmaceuticals Stock Performance
NASDAQ:IONS opened at $84.99 on Thursday. The company has a debt-to-equity ratio of 0.96, a current ratio of 2.79 and a quick ratio of 2.78. The firm has a market cap of $13.77 billion, a price-to-earnings ratio of -50.29 and a beta of 0.29. The firm's fifty day moving average price is $80.46 and its 200 day moving average price is $67.26. Ionis Pharmaceuticals, Inc. has a 1-year low of $23.95 and a 1-year high of $86.15.
Hedge Funds Weigh In On Ionis Pharmaceuticals
Several hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its position in Ionis Pharmaceuticals by 72.5% during the first quarter. Goldman Sachs Group Inc. now owns 652,518 shares of the company's stock worth $19,686,000 after purchasing an additional 274,310 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Ionis Pharmaceuticals by 6.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 659,435 shares of the company's stock worth $19,895,000 after buying an additional 39,794 shares during the last quarter. Focus Partners Wealth boosted its position in shares of Ionis Pharmaceuticals by 30.1% in the 1st quarter. Focus Partners Wealth now owns 9,832 shares of the company's stock worth $297,000 after buying an additional 2,277 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Ionis Pharmaceuticals by 15.6% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,148 shares of the company's stock valued at $243,000 after acquiring an additional 829 shares during the last quarter. Finally, DAVENPORT & Co LLC increased its holdings in Ionis Pharmaceuticals by 15.0% during the 2nd quarter. DAVENPORT & Co LLC now owns 64,843 shares of the company's stock valued at $2,562,000 after acquiring an additional 8,450 shares in the last quarter. 93.86% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on IONS. Morgan Stanley increased their price target on shares of Ionis Pharmaceuticals from $90.00 to $94.00 and gave the stock an "overweight" rating in a report on Thursday, October 30th. TD Cowen reiterated a "buy" rating on shares of Ionis Pharmaceuticals in a research report on Wednesday, December 3rd. Barclays assumed coverage on Ionis Pharmaceuticals in a report on Wednesday, January 28th. They issued an "overweight" rating and a $95.00 price target for the company. HC Wainwright lifted their price target on Ionis Pharmaceuticals from $100.00 to $110.00 and gave the company a "buy" rating in a research note on Monday, November 10th. Finally, Needham & Company LLC increased their price objective on Ionis Pharmaceuticals from $78.00 to $90.00 and gave the stock a "buy" rating in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $86.45.
View Our Latest Report on IONS
Ionis Pharmaceuticals Company Profile
(
Get Free Report)
Ionis Pharmaceuticals, Inc is a biotechnology company focused on the discovery and development of RNA-targeted therapies designed to modulate gene expression. The company's proprietary antisense oligonucleotide (ASO) technology enables the selective binding of short synthetic strands of nucleic acids to messenger RNA (mRNA), thereby inhibiting or altering the production of disease-causing proteins. Ionis' pipeline spans a range of therapeutic areas, including neurological disorders, cardiovascular conditions, metabolic diseases and rare genetic disorders.
Since its founding in 1989 by Dr.
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