IONS Premarket Gains 2.4% After C-Suite Insider Sells $440K In Stock

Ionis Pharmaceuticals Inc. IONS closed regular trading at $42.81, up 0.78% for the day, before gaining an additional 2.38% in premarket trading to $43.83, according to Benzinga Pro data, following disclosure of insider trading activity by its chief scientific officer.

Check out the current price of IONS stock here.

Executive Stock Transaction Details

Chief Scientific Officer Frank Bennett executed a pre-planned stock sale on Monday, selling 10,000 shares at a weighted average price of $43.98 per share, generating approximately $439,776 in proceeds. The transaction occurred under a Rule 10b5-1 trading plan adopted on May 13.

Form 144 Filing Shows Larger Planned Sale

The Securities and Exchange Commission Form 144 filings reveal Bennett plans to sell 16,000 shares with an aggregate market value of $703,642. The filing indicates the sales will be executed through Stifel Nicolaus & Company Inc., with securities acquired through various compensation mechanisms dating back to 2016.

Stock Performance Context

The shares of the California-based biotechnology company have traded within a 52-week range of $23.95 to $50.37. The company maintains a market capitalization of $6.82 billion with an average daily volume of 1.95 million shares. Over the past year, the stock has declined 11.15%, falling $5.37 from previous levels.

Regulatory Compliance and Market Impact

The transactions comply with SEC regulations requiring pre-disclosure of planned insider sales. Bennett’s remaining holdings after the initial sale total 93,466 direct shares, plus 18,869 stock options.

With a strong Momentum in the 67th percentile, Benzinga’s Edge Stock Rankings indicate that IONS is experiencing upward movement across all time frames. Know how its momentum lines up with other well-known names.