Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. decreased its holdings in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 59.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,741 shares of the company’s stock after selling 26,515 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Ionis Pharmaceuticals were worth $711,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in IONS. Great Point Partners LLC purchased a new stake in shares of Ionis Pharmaceuticals during the 2nd quarter worth approximately $15,728,000. International Assets Investment Management LLC lifted its position in Ionis Pharmaceuticals by 3,287.0% in the third quarter. International Assets Investment Management LLC now owns 328,772 shares of the company’s stock valued at $13,171,000 after acquiring an additional 319,065 shares during the last quarter. Logos Global Management LP acquired a new position in Ionis Pharmaceuticals in the second quarter valued at $14,298,000. Marshall Wace LLP boosted its stake in Ionis Pharmaceuticals by 1,021.5% in the second quarter. Marshall Wace LLP now owns 173,199 shares of the company’s stock valued at $8,255,000 after acquiring an additional 157,756 shares in the last quarter. Finally, Swedbank AB acquired a new stake in shares of Ionis Pharmaceuticals during the first quarter worth about $6,183,000. 93.86% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Ionis Pharmaceuticals news, CEO Brett P. Monia sold 6,630 shares of Ionis Pharmaceuticals stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $38.05, for a total transaction of $252,271.50. Following the completion of the transaction, the chief executive officer now owns 167,393 shares in the company, valued at approximately $6,369,303.65. The trade was a 3.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Eric Swayze sold 1,194 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $37.92, for a total transaction of $45,276.48. Following the completion of the sale, the executive vice president now directly owns 33,713 shares in the company, valued at $1,278,396.96. This trade represents a 3.42 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 7,877 shares of company stock worth $299,578. Company insiders own 2.71% of the company’s stock.

Ionis Pharmaceuticals Stock Up 1.5 %

IONS stock opened at $35.90 on Friday. The company has a current ratio of 8.91, a quick ratio of 8.82 and a debt-to-equity ratio of 1.86. The company’s 50-day moving average price is $38.35 and its 200 day moving average price is $42.39. Ionis Pharmaceuticals, Inc. has a 52 week low of $33.33 and a 52 week high of $54.44. The company has a market cap of $5.67 billion, a P/E ratio of -14.71 and a beta of 0.39.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on IONS. StockNews.com downgraded Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, November 12th. Wells Fargo & Company cut their target price on shares of Ionis Pharmaceuticals from $82.00 to $77.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Needham & Company LLC reiterated a “buy” rating and set a $60.00 price target on shares of Ionis Pharmaceuticals in a research note on Thursday, November 7th. Piper Sandler dropped their price objective on shares of Ionis Pharmaceuticals from $65.00 to $62.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $70.00 target price on shares of Ionis Pharmaceuticals in a report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.65.

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.