94,625 Shares in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Bought by AGF Management Ltd.

Posted by Defense World Staff on Jul 30th, 2023

AGF Management Ltd. purchased a new position in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS – Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 94,625 shares of the company’s stock, valued at approximately $3,382,000. AGF Management Ltd. owned approximately 0.07% of Ionis Pharmaceuticals at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Ionis Pharmaceuticals by 173.9% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 934 shares of the company’s stock valued at $33,000 after buying an additional 593 shares during the last quarter. Almanack Investment Partners LLC. acquired a new stake in shares of Ionis Pharmaceuticals in the third quarter valued at approximately $44,000. Quantbot Technologies LP purchased a new position in shares of Ionis Pharmaceuticals during the second quarter valued at approximately $44,000. Banque Cantonale Vaudoise lifted its stake in shares of Ionis Pharmaceuticals by 219.8% during the fourth quarter. Banque Cantonale Vaudoise now owns 1,279 shares of the company’s stock valued at $48,000 after buying an additional 879 shares during the period. Finally, New England Capital Financial Advisors LLC purchased a new position in Ionis Pharmaceuticals during the fourth quarter worth approximately $53,000. 90.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Ionis Pharmaceuticals

In other Ionis Pharmaceuticals news, CEO Brett P. Monia sold 18,650 shares of the stock in a transaction that occurred on Friday, July 7th. The stock was sold at an average price of $42.25, for a total transaction of $787,962.50. Following the transaction, the chief executive officer now directly owns 121,724 shares in the company, valued at approximately $5,142,839. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Brett P. Monia sold 18,650 shares of the firm’s stock in a transaction on Friday, July 7th. The stock was sold at an average price of $42.25, for a total transaction of $787,962.50. Following the completion of the sale, the chief executive officer now directly owns 121,724 shares of the company’s stock, valued at approximately $5,142,839. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Joseph Klein III sold 3,555 shares of the stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $42.00, for a total value of $149,310.00. Following the transaction, the director now owns 20,346 shares of the company’s stock, valued at approximately $854,532. The disclosure for this sale can be found here. Insiders have sold a total of 28,663 shares of company stock worth $1,198,879 over the last 90 days. Insiders own 2.65% of the company’s stock.

Ionis Pharmaceuticals Stock Performance

IONS opened at $39.79 on Friday. Ionis Pharmaceuticals, Inc. has a fifty-two week low of $32.69 and a fifty-two week high of $48.82. The company has a debt-to-equity ratio of 2.42, a current ratio of 9.81 and a quick ratio of 9.72. The stock has a fifty day moving average of $41.12 and a 200-day moving average of $38.45.

Ionis Pharmaceuticals (NASDAQ:IONS – Get Free Report) last released its earnings results on Wednesday, May 3rd. The company reported ($0.87) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.13. Ionis Pharmaceuticals had a negative return on equity of 57.58% and a negative net margin of 56.85%. The firm had revenue of $131.00 million for the quarter, compared to analysts’ expectations of $126.88 million. During the same quarter in the previous year, the business posted ($0.46) earnings per share. The business’s revenue for the quarter was down 7.7% on a year-over-year basis. On average, research analysts forecast that Ionis Pharmaceuticals, Inc. will post -3.67 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Morgan Stanley increased their price objective on shares of Ionis Pharmaceuticals from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 11th. Barclays decreased their price objective on shares of Ionis Pharmaceuticals from $40.00 to $37.00 in a report on Thursday, May 4th. StockNews.com assumed coverage on shares of Ionis Pharmaceuticals in a report on Thursday, May 18th. They set a “hold” rating for the company. Citigroup upgraded shares of Ionis Pharmaceuticals from a “sell” rating to a “neutral” rating and raised their price target for the stock from $30.00 to $36.00 in a research report on Thursday, May 4th. Finally, VNET Group reiterated a “maintains” rating on shares of Ionis Pharmaceuticals in a research report on Thursday, May 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Ionis Pharmaceuticals currently has an average rating of “Hold” and an average target price of $45.40.

About Ionis Pharmaceuticals

(Free Report)

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.