Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Ionis Pharmaceuticals Inc shares valued at $17,219 were sold by Monia Brett P on Feb 16 ’24. At $44.49 per share, Monia Brett P sold 387 shares. The insider’s holdings dropped to 173,751 shares worth approximately $7.38 million following the completion of this transaction.
Also, Monia Brett P sold 23,501 shares, netting a total of over 1,160,303 in proceeds. Following the sale of shares at $49.37 each, the insider now holds 174,138 shares.
Before that, Cadoret-Manier Onaiza had sold 2,125 shares from its account. In a trade valued at $105,404, the EVP, Chf GL Pdt Str & Oper Ofc traded Ionis Pharmaceuticals Inc shares for $49.60 each. Upon closing the transaction, the insider’s holdings decreased to 2,125 shares, worth approximately $1.52 million.
As published in a research note from Wolfe Research on April 10, 2024, Ionis Pharmaceuticals Inc [IONS] has been rated up from a Peer perform to an Outperform and the price target has been revised to $58. Analysts at BofA Securities upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in early January. As of October 23, 2023, BofA Securities has increased its “an Underperform” rating to a “Neutral” for IONS. Earlier on September 29, 2023, Raymond James initiated its rating. Their recommendation was “a Strong buy” for IONS stock.
Analyzing IONS Stock Performance
During the last five days, there has been a drop of approximately -0.77%. Over the course of the year, Ionis Pharmaceuticals Inc shares have dropped approximately -15.99%. Shares of the company reached a 52-week high of $54.44 on 01/12/24 and a 52-week low of $41.60 on 03/20/24. A 50-day SMA is recorded $45.19, while a 200-day SMA reached $45.37. Nevertheless, trading volume fell to 0.87 million shares from 0.85 million shares the previous day.
Support And Resistance Levels for Ionis Pharmaceuticals Inc (IONS)
According to the 24-hour chart, there is a support level at 41.93, which, if violated, would cause prices to drop to 41.37. In the upper region, resistance lies at 43.18. The next price resistance is at 43.86. RSI (Relative Strength Index) is 42.44 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.53, which suggests the price will decrease in the coming days. Percent R is at 84.48%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Ionis Pharmaceuticals Inc subject to short interest?
Stocks of Ionis Pharmaceuticals Inc saw a sharp rise in short interest on Mar 28, 2024 jumping by 0.41 million shares to 9.52 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 9.11 million shares. A jump of 4.31% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 9.08 of the overall float, the days-to-cover ratio (short ratio) jumped to 9.08.
