Alnylam Pharmaceuticals, Inc. $ALNY Shares Bought by iA Global Asset Management Inc.

Key Points

• iA Global Asset Management sharply increased its stake in Alnylam Pharmaceuticals by 979.5% in the fourth quarter, ending with 17,780 shares worth about $7.07 million.
• Several analysts remain positive on ALNY, with recent reports including multiple Buy ratings and a consensus rating of Moderate Buy; the average price target is $471.96.
• Alnylam’s latest earnings topped expectations, with $1.99 EPS versus $0.87 expected and revenue of $1.17 billion, up 96.4% year over year, even as the stock traded below its recent highs.

iA Global Asset Management Inc. boosted its holdings in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report) by 979.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,780 shares of the biopharmaceutical company's stock after buying an additional 16,133 shares during the period. iA Global Asset Management Inc.'s holdings in Alnylam Pharmaceuticals were worth $7,070,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in ALNY. Groupama Asset Managment increased its position in Alnylam Pharmaceuticals by 160.4% during the 3rd quarter. Groupama Asset Managment now owns 4,032,082 shares of the biopharmaceutical company's stock valued at $18,610,000 after buying an additional 2,483,697 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in Alnylam Pharmaceuticals by 698.8% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,355,609 shares of the biopharmaceutical company's stock valued at $618,158,000 after buying an additional 1,185,909 shares in the last quarter. Qube Research & Technologies Ltd acquired a new position in Alnylam Pharmaceuticals during the 3rd quarter valued at about $369,943,000. AQR Capital Management LLC increased its position in Alnylam Pharmaceuticals by 295.2% during the 3rd quarter. AQR Capital Management LLC now owns 744,008 shares of the biopharmaceutical company's stock valued at $336,009,000 after buying an additional 555,759 shares in the last quarter. Finally, Orbis Allan Gray Ltd increased its position in Alnylam Pharmaceuticals by 29.8% during the 2nd quarter. Orbis Allan Gray Ltd now owns 2,121,412 shares of the biopharmaceutical company's stock valued at $691,771,000 after buying an additional 486,489 shares in the last quarter. 92.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ALNY has been the topic of several recent analyst reports. Canaccord Genuity Group upped their target price on Alnylam Pharmaceuticals from $415.00 to $429.00 and gave the company a "buy" rating in a research report on Tuesday, February 17th. Wall Street Zen upgraded Alnylam Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Truist Financial dropped their price target on Alnylam Pharmaceuticals from $515.00 to $505.00 and set a "buy" rating on the stock in a research note on Monday, April 13th. Needham & Company LLC dropped their price target on Alnylam Pharmaceuticals from $529.00 to $510.00 and set a "buy" rating on the stock in a research note on Thursday, February 12th. Finally, Chardan Capital reiterated a "buy" rating and set a $425.00 price target on shares of Alnylam Pharmaceuticals in a research note on Wednesday, March 25th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $471.96.

Alnylam Pharmaceuticals Price Performance

Shares of ALNY opened at $286.98 on Monday. Alnylam Pharmaceuticals, Inc. has a 52 week low of $280.60 and a 52 week high of $495.55. The company has a quick ratio of 3.06, a current ratio of 3.13 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $38.31 billion, a price-to-earnings ratio of 78.41 and a beta of 0.31. The stock's 50-day moving average price is $313.77 and its 200-day moving average price is $364.74.

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

Insider Transactions at Alnylam Pharmaceuticals

In other news, insider Melissa Mclaughlin sold 2,286 shares of the company's stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $330.42, for a total value of $755,340.12. Following the sale, the insider owned 9,443 shares in the company, valued at $3,120,156.06. This represents a 19.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Pushkal Garg sold 1,775 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $319.74, for a total value of $567,538.50. Following the transaction, the executive vice president owned 23,406 shares in the company, valued at $7,483,834.44. This represents a 7.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 23,296 shares of company stock valued at $7,607,867. 0.86% of the stock is owned by insiders.

About Alnylam Pharmaceuticals

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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