Ionis Pharmaceuticals, Inc. $IONS Stock Holdings Boosted by Privium Fund Management B.V.

Privium Fund Management B.V. raised its stake in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 9.1% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 349,003 shares of the company’s stock after purchasing an additional 29,079 shares during the quarter. Ionis Pharmaceuticals comprises about 3.0% of Privium Fund Management B.V.’s investment portfolio, making the stock its 10th largest position. Privium Fund Management B.V.’s holdings in Ionis Pharmaceuticals were worth $15,583,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Laurel Wealth Advisors LLC bought a new stake in shares of Ionis Pharmaceuticals in the 3rd quarter valued at about $27,000. Cassaday & Co Wealth Management LLC bought a new position in Ionis Pharmaceuticals during the 1st quarter worth approximately $30,000. Root Financial Partners LLC bought a new position in Ionis Pharmaceuticals during the 3rd quarter worth approximately $30,000. Fortitude Family Office LLC grew its holdings in Ionis Pharmaceuticals by 4,411.8% during the third quarter. Fortitude Family Office LLC now owns 767 shares of the company’s stock valued at $34,000 after purchasing an additional 750 shares during the period. Finally, Allworth Financial LP acquired a new position in Ionis Pharmaceuticals during the second quarter valued at approximately $41,000. 93.86% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Shannon Devers sold 1,357 shares of the company’s stock in a transaction on Friday, October 16th. The shares were sold at an average price of $43.54, for a total value of $59,083.78. Following the completion of the transaction, the executive vice president directly owned 17,811 shares of the company’s stock, valued at approximately $775,490.94. This represents a 7.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 1.81% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ionis Pharmaceuticals in a research note on Thursday, October 15th. UBS Group assumed coverage on shares of Ionis Pharmaceuticals in a research report on Thursday, October 15th. They set a “buy” rating and a $88.00 price target on the stock. Raymond James Financial set a $79.00 price target on shares of Ionis Pharmaceuticals in a report on Tuesday, October 20th. Canaccord Genuity Group lowered their price objective on shares of Ionis Pharmaceuticals from $95.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, September 8th. Finally, Citigroup reaffirmed a “buy” rating on shares of Ionis Pharmaceuticals in a research note on Wednesday, October 21st. Nineteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $89.48.

Ionis Pharmaceuticals Stock Up 1.6%

Shares of IONS stock traded up $0.62 during trading hours on Friday, hitting $39.42. 2,911,559 shares of the company were exchanged, compared to its average volume of 2,678,118. The business has a 50 day moving average of $46.80 and a two-hundred day moving average of $65.88. The company has a current ratio of 7.89, a quick ratio of 7.73 and a debt-to-equity ratio of 3.07. Ionis Pharmaceuticals, Inc. has a 52 week low of $38.31 and a 52 week high of $86.74. The company has a market capitalization of $6.55 billion, a PE ratio of -11.39 and a beta of 0.43.

About Ionis Pharmaceuticals

Ionis Pharmaceuticals, Inc is a biotechnology company focused on discovering and developing medicines using antisense technology. Its platform is designed to selectively target RNA and regulate the production of disease-related proteins. The company develops therapies for neurological, cardiovascular and metabolic, and rare diseases.

Ionis has developed and commercialized medicines both independently and through collaborations with larger pharmaceutical companies. Its marketed or partnered products include Spinraza (nusinersen) for spinal muscular atrophy, Tegsedi (inotersen) and Wainua (eplontersen) for hereditary transthyretin amyloidosis, and Tryngolza (olezarsen) for familial chylomicronemia syndrome.