Sovran Advisors LLC Invests $5.62 Million in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)

Sovran Advisors LLC bought a new position in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 171,812 shares of the company’s stock, valued at approximately $5,617,000. Ionis Pharmaceuticals makes up 0.8% of Sovran Advisors LLC’s portfolio, making the stock its 28th biggest holding. Sovran Advisors LLC owned approximately 0.11% of Ionis Pharmaceuticals at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC grew its position in Ionis Pharmaceuticals by 83.9% during the third quarter. GAMMA Investing LLC now owns 664 shares of the company’s stock valued at $27,000 after buying an additional 303 shares during the period. Capital Performance Advisors LLP bought a new position in Ionis Pharmaceuticals during the third quarter valued at about $40,000. Prospera Private Wealth LLC bought a new position in Ionis Pharmaceuticals during the third quarter valued at about $42,000. Itau Unibanco Holding S.A. grew its position in Ionis Pharmaceuticals by 40.9% during the third quarter. Itau Unibanco Holding S.A. now owns 1,081 shares of the company’s stock valued at $43,000 after buying an additional 314 shares during the period. Finally, Quantbot Technologies LP bought a new position in Ionis Pharmaceuticals during the third quarter valued at about $51,000. Institutional investors own 93.86% of the company’s stock.

Insider Buying and Selling

In related news, EVP Eric Swayze sold 7,154 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $32.84, for a total value of $234,937.36. Following the transaction, the executive vice president now directly owns 45,670 shares in the company, valued at approximately $1,499,802.80. This represents a 13.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Elizabeth L. Hougen sold 1,523 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $32.44, for a total transaction of $49,406.12. Following the transaction, the chief financial officer now owns 110,500 shares in the company, valued at $3,584,620. The trade was a 1.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 110,609 shares of company stock worth $3,564,867. Insiders own 2.71% of the company’s stock.

Ionis Pharmaceuticals Price Performance

IONS stock opened at $31.48 on Tuesday. The company has a debt-to-equity ratio of 1.86, a quick ratio of 8.82 and a current ratio of 8.91. The company’s 50 day moving average is $34.70 and its 200 day moving average is $39.36. Ionis Pharmaceuticals, Inc. has a 1-year low of $31.03 and a 1-year high of $52.34.

Analyst Ratings Changes

Several equities research analysts have commented on IONS shares. 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 report on Thursday, November 14th. StockNews.com downgraded shares of Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, November 12th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $70.00 price objective on shares of Ionis Pharmaceuticals in a report on Wednesday, January 15th. William Blair reaffirmed an “outperform” rating on shares of Ionis Pharmaceuticals in a report on Friday, December 20th. Finally, Wells Fargo & Company dropped their price objective 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. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Ionis Pharmaceuticals presently has an average 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.