Allstate Corp Increases Stock Position in Alnylam Pharmaceuticals, Inc. $ALNY

Key Points

• Allstate Corp increased its stake in Alnylam Pharmaceuticals by 115% in the fourth quarter, ending with 9,829 shares worth about $3.91 million.
• Institutional ownership remains very high, with 92.97% of Alnylam shares held by hedge funds and other institutional investors. Several other funds also added to or initiated positions in the biotech company.
• Alnylam reported strong quarterly results, posting EPS of $1.99 versus the $0.87 estimate and revenue of $1.17 billion, up 96.4% year over year. Despite this, insider selling totaled 21,255 shares over the last 90 days.

Allstate Corp boosted its stake in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report) by 115.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,829 shares of the biopharmaceutical company's stock after acquiring an additional 5,258 shares during the period. Allstate Corp's holdings in Alnylam Pharmaceuticals were worth $3,909,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ALNY. Brighton Jones LLC purchased a new stake in shares of Alnylam Pharmaceuticals in the fourth quarter valued at about $243,000. Geneos Wealth Management Inc. raised its holdings in shares of Alnylam Pharmaceuticals by 372.3% in the first quarter. Geneos Wealth Management Inc. now owns 222 shares of the biopharmaceutical company's stock valued at $60,000 after buying an additional 175 shares during the last quarter. Flow Traders U.S. LLC purchased a new stake in shares of Alnylam Pharmaceuticals in the second quarter valued at about $241,000. Daiwa Securities Group Inc. raised its holdings in shares of Alnylam Pharmaceuticals by 0.3% in the second quarter. Daiwa Securities Group Inc. now owns 12,941 shares of the biopharmaceutical company's stock valued at $4,220,000 after buying an additional 35 shares during the last quarter. Finally, NewEdge Advisors LLC raised its holdings in shares of Alnylam Pharmaceuticals by 70,300.0% in the second quarter. NewEdge Advisors LLC now owns 704 shares of the biopharmaceutical company's stock valued at $229,000 after buying an additional 703 shares during the last quarter. 92.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ALNY has been the subject of a number of research reports. Jefferies Financial Group reaffirmed a "hold" rating and issued a $330.00 target price (down from $522.00) on shares of Alnylam Pharmaceuticals in a report on Monday, March 16th. Canaccord Genuity Group boosted their price target on shares of Alnylam Pharmaceuticals from $415.00 to $429.00 and gave the stock a "buy" rating in a research note on Tuesday, February 17th. Wall Street Zen upgraded shares of Alnylam Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Wells Fargo & Company boosted their price target on shares of Alnylam Pharmaceuticals from $376.00 to $377.00 and gave the stock an "equal weight" rating in a research note on Friday, May 1st. Finally, Barclays assumed coverage on shares of Alnylam Pharmaceuticals in a research note on Wednesday, January 28th. They set an "overweight" rating and a $527.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Alnylam Pharmaceuticals currently has an average rating of "Moderate Buy" and an average target price of $463.13.

Insider Activity at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, EVP Pushkal Garg sold 1,775 shares of the company's stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $319.74, for a total transaction of $567,538.50. Following the transaction, the executive vice president directly owned 23,406 shares in the company, valued at approximately $7,483,834.44. This represents a 7.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Kevin Joseph Fitzgerald sold 1,652 shares of the company's stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $319.73, for a total transaction of $528,193.96. Following the transaction, the executive vice president owned 21,860 shares in the company, valued at $6,989,297.80. The trade was a 7.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 21,255 shares of company stock valued at $6,930,337 in the last ninety days. Company insiders own 0.86% of the company's stock.

Alnylam Pharmaceuticals Trading Up 0.0%

Shares of ALNY opened at $295.63 on Thursday. The company has a current ratio of 3.13, a quick ratio of 3.06 and a debt-to-equity ratio of 0.94. The firm's 50-day moving average is $309.94 and its two-hundred day moving average is $356.07. Alnylam Pharmaceuticals, Inc. has a twelve month low of $284.28 and a twelve month high of $495.55. The firm has a market capitalization of $39.47 billion, a P/E ratio of 80.77 and a beta of 0.31.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last issued its earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.99 earnings per share for the quarter, topping the consensus estimate of $0.87 by $1.12. Alnylam Pharmaceuticals had a net margin of 11.72% and a return on equity of 85.76%. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period in the prior year, the business posted ($0.44) earnings per share. The firm's revenue for the quarter was up 96.4% compared to the same quarter last year. On average, research analysts predict that Alnylam Pharmaceuticals, Inc. will post 7.36 earnings per share for the current fiscal year.

Alnylam Pharmaceuticals Profile

Alnylam Pharmaceuticals, Inc NASDAQ: ALNY is a biopharmaceutical company focused on the discovery, development and commercialization of RNA interference (RNAi) therapeutics. Founded to translate the scientific discovery of RNAi into new medicines, Alnylam applies small interfering RNA (siRNA) technology to silence disease-causing genes. The company develops therapies designed to provide durable disease modification by targeting underlying genetic drivers across a range of rare and more prevalent conditions.

Alnylam has advanced multiple siRNA-based products into commercialization, initially using lipid nanoparticle delivery and more recently employing GalNAc-conjugate chemistry to enable targeted delivery to the liver with subcutaneous dosing.

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