Sumitomo Mitsui Trust Group Inc. Lowers Stake in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

Sumitomo Mitsui Trust Group Inc. reduced its position in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) by 20.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 156,657 shares of the company’s stock after selling 39,457 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.10% of Ionis Pharmaceuticals worth $5,477,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Geode Capital Management LLC lifted its stake in Ionis Pharmaceuticals by 7.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,668,358 shares of the company’s stock valued at $106,922,000 after buying an additional 183,814 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Ionis Pharmaceuticals by 8.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,443,020 shares of the company’s stock valued at $57,807,000 after buying an additional 114,914 shares in the last quarter. ARK Investment Management LLC lifted its stake in Ionis Pharmaceuticals by 1.7% in the 3rd quarter. ARK Investment Management LLC now owns 1,384,269 shares of the company’s stock valued at $55,454,000 after buying an additional 23,244 shares in the last quarter. Two Sigma Advisers LP lifted its stake in Ionis Pharmaceuticals by 3.5% in the 3rd quarter. Two Sigma Advisers LP now owns 1,332,411 shares of the company’s stock valued at $53,376,000 after buying an additional 45,300 shares in the last quarter. Finally, Groupama Asset Managment lifted its stake in Ionis Pharmaceuticals by 4.1% in the 3rd quarter. Groupama Asset Managment now owns 916,060 shares of the company’s stock valued at $367,000 after buying an additional 36,084 shares in the last quarter. 93.86% of the stock is owned by hedge funds and other institutional investors.

Ionis Pharmaceuticals Stock Down 1.6 %

Shares of NASDAQ IONS opened at $30.35 on Friday. The company has a 50 day simple moving average of $34.36 and a 200-day simple moving average of $39.10. The company has a market capitalization of $4.79 billion, a P/E ratio of -12.44 and a beta of 0.34. The company has a debt-to-equity ratio of 1.86, a current ratio of 8.91 and a quick ratio of 8.82. Ionis Pharmaceuticals, Inc. has a 1 year low of $30.23 and a 1 year high of $52.34.

Insider Activity at Ionis Pharmaceuticals

In related news, CEO Brett P. Monia sold 38,843 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $31.65, for a total value of $1,229,380.95. Following the completion of the sale, the chief executive officer now owns 180,683 shares in the company, valued at approximately $5,718,616.95. This trade represents a 17.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Elizabeth L. Hougen sold 8,870 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $32.81, for a total transaction of $291,024.70. Following the completion of the sale, the chief financial officer now owns 107,885 shares of the company’s stock, valued at $3,539,706.85. This trade represents a 7.60 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 110,609 shares of company stock worth $3,564,867. Insiders own 2.71% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Wells Fargo & Company decreased their price target on shares of Ionis Pharmaceuticals from $82.00 to $77.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. StockNews.com lowered shares of Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, November 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a $70.00 price objective on shares of Ionis Pharmaceuticals in a report on Wednesday, January 15th. Needham & Company LLC reiterated a “buy” rating and issued a $60.00 price objective on shares of Ionis Pharmaceuticals in a report on Friday, December 20th. Finally, William Blair reiterated an “outperform” rating on shares of Ionis Pharmaceuticals in a report on Friday, December 20th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.65.

Ionis Pharmaceuticals Company Profile

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.