Alnylam Pharmaceuticals (NASDAQ:ALNY) Trading Down 5.5% - Here's Why

Key Points

• Alnylam shares fell about 5.5% intraday to roughly $433 from a prior close of $458.12, trading as low as $434.02 on Monday with volume of ~338,607 shares (down ~66% vs. the 992,548 average).
• Wall Street sentiment is generally positive—23 Buys, 3 Holds and 1 Sell—with a MarketBeat average rating of “Moderate Buy” and an average price target of $482.17.
• Company insiders have been net sellers recently: the CEO and an EVP sold sizeable blocks in November and insiders sold 78,328 shares (~$35.7M) over the last 90 days, leaving insiders owning about 1.20% of the stock.

Shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Get Free Report) were down 5.5% on Monday . The company traded as low as $434.02 and last traded at $433.0790. Approximately 338,607 shares were traded during trading, a decline of 66% from the average daily volume of 992,548 shares. The stock had previously closed at $458.12.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ALNY shares. Jefferies Financial Group decreased their price target on Alnylam Pharmaceuticals from $550.00 to $549.00 and set a "buy" rating for the company in a research note on Thursday, October 30th. JPMorgan Chase & Co. lowered their target price on Alnylam Pharmaceuticals from $475.00 to $473.00 and set an "overweight" rating on the stock in a report on Monday, October 13th. Oppenheimer reissued an "outperform" rating and issued a $500.00 price target on shares of Alnylam Pharmaceuticals in a report on Friday, October 31st. Wells Fargo & Company lifted their price objective on shares of Alnylam Pharmaceuticals from $395.00 to $479.00 and gave the stock an "equal weight" rating in a research note on Tuesday, November 11th. Finally, Stifel Nicolaus boosted their target price on shares of Alnylam Pharmaceuticals from $441.00 to $495.00 and gave the stock a "buy" rating in a report on Monday, October 6th. Twenty-three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $482.17.

Alnylam Pharmaceuticals Trading Down 6.1%

The company has a market cap of $56.82 billion, a price-to-earnings ratio of 1,795.01 and a beta of 0.30. The firm has a fifty day moving average price of $456.78 and a 200 day moving average price of $403.79. The company has a debt-to-equity ratio of 4.45, a quick ratio of 2.49 and a current ratio of 2.54.

Insider Buying and Selling at Alnylam Pharmaceuticals

In other news, CEO Yvonne Greenstreet sold 10,000 shares of Alnylam Pharmaceuticals stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $451.27, for a total transaction of $4,512,700.00. Following the sale, the chief executive officer directly owned 65,409 shares of the company's stock, valued at approximately $29,517,119.43. This trade represents a 13.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Kevin Joseph Fitzgerald sold 12,128 shares of the firm's stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $452.18, for a total transaction of $5,484,039.04. Following the transaction, the executive vice president owned 21,264 shares of the company's stock, valued at approximately $9,615,155.52. The trade was a 36.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 78,328 shares of company stock valued at $35,705,793 over the last ninety days. 1.20% of the stock is owned by corporate insiders.

Institutional Trading of Alnylam Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of ALNY. Root Financial Partners LLC bought a new stake in shares of Alnylam Pharmaceuticals during the 3rd quarter worth $25,000. SVB Wealth LLC bought a new position in shares of Alnylam Pharmaceuticals during the 1st quarter valued at $27,000. Salomon & Ludwin LLC bought a new stake in Alnylam Pharmaceuticals in the 3rd quarter worth $27,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Alnylam Pharmaceuticals during the third quarter valued at approximately $29,000. Finally, Atlantic Union Bankshares Corp purchased a new position in Alnylam Pharmaceuticals during the second quarter valued at $30,000. 92.97% of the stock is owned by hedge funds and other institutional investors.

About Alnylam Pharmaceuticals

Alnylam Pharmaceuticals, Inc, a biopharmaceutical company, focuses on discovering, developing, and commercializing novel therapeutics based on ribonucleic acid interference. Its marketed products include ONPATTRO (patisiran) for the treatment of the polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults; AMVUTTRA for the treatment of hATTR amyloidosis with polyneuropathy in adults; GIVLAARI for the treatment of adults with acute hepatic porphyria; and OXLUMO for the treatment of primary hyperoxaluria type 1.

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