Alnylam Pharmaceuticals, Inc. $ALNY Stock: Pictet Asset Management Holding SA Increases Stake

Key Points

• Pictet Asset Management increased its Alnylam stake by 77.7% in the third quarter, adding 216,555 shares to hold 495,168 shares valued at about $122.8 million.
• Institutional investors own about 93% of Alnylam’s shares. Executive Vice President Bryan Supran sold 1,758 shares to cover tax withholding on vested equity awards.
• Alnylam reported quarterly revenue of $1.46 billion, up 16.7% year over year and above estimates; analysts’ consensus rating is “Moderate Buy,” with a $305.86 average price target.

Pictet Asset Management Holding SA grew its holdings in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report) by 77.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 495,168 shares of the biopharmaceutical company's stock after purchasing an additional 216,555 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.37% of Alnylam Pharmaceuticals worth $122,783,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. SCS Capital Management LLC bought a new position in Alnylam Pharmaceuticals during the second quarter valued at about $34,784,000. WINTON GROUP Ltd purchased a new stake in Alnylam Pharmaceuticals during the second quarter worth about $2,372,000. Silvant Capital Management LLC purchased a new stake in Alnylam Pharmaceuticals during the second quarter worth about $5,456,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Alnylam Pharmaceuticals in the second quarter worth about $50,773,000. Finally, Wealthfront Advisers LLC bought a new stake in Alnylam Pharmaceuticals in the second quarter worth about $2,876,000. 92.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Bryan Supran sold 1,758 shares of Alnylam Pharmaceuticals stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $226.88, for a total transaction of $398,855.04. Following the completion of the sale, the executive vice president directly owned 12,807 shares of the company's stock, valued at approximately $2,905,652.16. The trade was a 12.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 0.86% of the company's stock.

Alnylam Pharmaceuticals Price Performance

ALNY opened at $155.94 on Monday. Alnylam Pharmaceuticals, Inc. has a one year low of $154.30 and a one year high of $479.79. The company has a fifty day moving average price of $228.57 and a 200-day moving average price of $281.10. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.48 and a quick ratio of 2.43. The firm has a market capitalization of $20.89 billion, a P/E ratio of 8.10 and a beta of 0.43.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last announced its earnings results on Thursday, October 29th. The biopharmaceutical company reported $16.26 earnings per share for the quarter, topping analysts' consensus estimates of $1.66 by $14.60. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.43 billion. Alnylam Pharmaceuticals had a return on equity of 155.33% and a net margin of 52.85%. The company's quarterly revenue was up 16.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.90 EPS. Equities research analysts expect that Alnylam Pharmaceuticals, Inc. will post 6.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ALNY has been the topic of a number of research analyst reports. JPMorgan Chase & Co. dropped 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. Citigroup decreased their price target on shares of Alnylam Pharmaceuticals from $340.00 to $320.00 and set a "buy" rating for the company in a research note on Wednesday, October 14th. Truist Financial lowered shares of Alnylam Pharmaceuticals from a "buy" rating to a "hold" rating and decreased their price target for the stock from $315.00 to $225.00 in a research note on Monday, November 2nd. Oppenheimer lowered their price target on shares of Alnylam Pharmaceuticals from $350.00 to $320.00 and set an "outperform" rating on the stock in a report on Friday, October 30th. Finally, Bank of America reiterated a "buy" rating and issued a $287.00 price objective (down from $460.00) on shares of Alnylam Pharmaceuticals in a research note on Friday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $305.86.

Alnylam Pharmaceuticals Company Profile

Alnylam Pharmaceuticals is a biopharmaceutical company focused on discovering, developing and commercializing medicines based on RNA interference (RNAi), a biological process that can reduce the production of specific disease-causing proteins. Founded in 2002 and headquartered in Cambridge, Massachusetts, the company helped advance RNAi from a scientific discovery into a therapeutic approach.

Its marketed medicines include ONPATTRO (patisiran) and AMVUTTRA (vutrisiran) for hereditary transthyretin-mediated amyloidosis, GIVLAARI (givosiran) for acute hepatic porphyria, and OXLUMO (lumasiran) for primary hyperoxaluria type 1.

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