12,625 Alnylam Pharmaceuticals, Inc. $ALNY Shares Purchased by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its Alnylam Pharmaceuticals stake by 8.1% in the third quarter, purchasing 12,625 shares and bringing its holdings to 168,320 shares worth approximately $41.5 million.
• Institutional investors own nearly 93% of Alnylam’s outstanding stock, while an executive sold 1,758 shares to cover tax withholding obligations tied to vested equity awards.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $364.95. Alnylam recently exceeded quarterly EPS expectations, though revenue fell slightly short of forecasts despite 66.9% year-over-year growth.

Assenagon Asset Management S.A. boosted its holdings in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report) by 8.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 168,320 shares of the biopharmaceutical company's stock after purchasing an additional 12,625 shares during the period. Assenagon Asset Management S.A. owned about 0.13% of Alnylam Pharmaceuticals worth $41,531,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of ALNY. Bank of Nova Scotia increased its stake in shares of Alnylam Pharmaceuticals by 0.6% in the first quarter. Bank of Nova Scotia now owns 7,798 shares of the biopharmaceutical company's stock worth $2,580,000 after buying an additional 49 shares during the last quarter. Prestige Wealth Management Group LLC raised its holdings in Alnylam Pharmaceuticals by 30.6% in the first quarter. Prestige Wealth Management Group LLC now owns 226 shares of the biopharmaceutical company's stock valued at $75,000 after acquiring an additional 53 shares in the last quarter. Fortitude Family Office LLC raised its holdings in Alnylam Pharmaceuticals by 10.5% in the third quarter. Fortitude Family Office LLC now owns 578 shares of the biopharmaceutical company's stock valued at $143,000 after acquiring an additional 55 shares in the last quarter. Glenmede Trust Co. NA boosted its stake in Alnylam Pharmaceuticals by 8.3% during the 1st quarter. Glenmede Trust Co. NA now owns 731 shares of the biopharmaceutical company's stock valued at $242,000 after acquiring an additional 56 shares during the last quarter. Finally, MV Capital Management Inc. bought a new position in Alnylam Pharmaceuticals during the 4th quarter valued at $25,000. Institutional investors and hedge funds own 92.97% of the company's stock.

Insiders Place Their Bets

In other Alnylam Pharmaceuticals news, EVP Bryan Supran sold 1,758 shares of the company's stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $226.88, for a total value of $398,855.04. Following the completion of the sale, the executive vice president directly owned 12,807 shares in the company, valued at $2,905,652.16. This represents a 12.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.86% of the stock is owned by company insiders.

Alnylam Pharmaceuticals Stock Down 0.9%

Shares of Alnylam Pharmaceuticals stock opened at $231.83 on Friday. Alnylam Pharmaceuticals, Inc. has a 1-year low of $197.81 and a 1-year high of $495.55. The business's fifty day moving average price is $239.35 and its two-hundred day moving average price is $274.34. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.05 and a quick ratio of 2.99. The company has a market capitalization of $31.02 billion, a P/E ratio of 43.09 and a beta of 0.28.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.21. Alnylam Pharmaceuticals had a net margin of 15.26% and a return on equity of 84.93%. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the company posted ($0.51) earnings per share. The company's quarterly revenue was up 66.9% compared to the same quarter last year. As a group, research analysts forecast that Alnylam Pharmaceuticals, Inc. will post 6.68 EPS for the current year.

Wall Street Analysts Forecast Growth

ALNY has been the subject of several recent analyst reports. Jefferies Financial Group raised their price objective on shares of Alnylam Pharmaceuticals from $230.00 to $260.00 and gave the stock a "hold" rating in a report on Tuesday, September 8th. BMO Capital Markets restated an "outperform" rating on shares of Alnylam Pharmaceuticals in a research note on Monday, August 31st. JPMorgan Chase & Co. cut their target price on shares of Alnylam Pharmaceuticals from $375.00 to $369.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 30th. UBS Group began coverage on shares of Alnylam Pharmaceuticals in a research report on Thursday. They set a "buy" rating and a $354.00 price target on the stock. Finally, Truist Financial reduced their price target on shares of Alnylam Pharmaceuticals from $410.00 to $315.00 and set a "buy" rating on the stock in a research report on Tuesday, August 4th. Four investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Alnylam Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average target price of $364.95.

About Alnylam Pharmaceuticals

Alnylam Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing medicines based on RNA interference (RNAi), a biological process that can selectively reduce the production of disease-causing proteins. The company was founded in 2002 and is headquartered in Cambridge, Massachusetts.

Alnylam's commercial products include ONPATTRO (patisiran), an RNAi therapy for hereditary transthyretin-mediated amyloidosis with polyneuropathy; GIVLAARI (givosiran), for acute hepatic porphyria; OXLUMO (lumasiran), for primary hyperoxaluria type 1; and AMVUTTRA (vutrisiran), for transthyretin-mediated amyloidosis.

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