Envestnet Portfolio Solutions Inc. Cuts Position in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)

Envestnet Portfolio Solutions Inc. trimmed its position in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report) by 58.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 867 shares of the biopharmaceutical company's stock after selling 1,195 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Alnylam Pharmaceuticals were worth $234,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ALNY. IFP Advisors Inc boosted its stake in shares of Alnylam Pharmaceuticals by 24.2% during the 4th quarter. IFP Advisors Inc now owns 241 shares of the biopharmaceutical company's stock valued at $57,000 after purchasing an additional 47 shares in the last quarter. Brighton Jones LLC purchased a new position in shares of Alnylam Pharmaceuticals during the 4th quarter worth approximately $243,000. Silvercrest Asset Management Group LLC bought a new position in shares of Alnylam Pharmaceuticals in the 4th quarter worth approximately $1,151,000. Bridger Management LLC boosted its position in shares of Alnylam Pharmaceuticals by 11.2% during the fourth quarter. Bridger Management LLC now owns 41,182 shares of the biopharmaceutical company's stock valued at $9,691,000 after purchasing an additional 4,160 shares in the last quarter. Finally, QRG Capital Management Inc. raised its holdings in Alnylam Pharmaceuticals by 97.9% in the first quarter. QRG Capital Management Inc. now owns 1,949 shares of the biopharmaceutical company's stock worth $526,000 after purchasing an additional 964 shares in the last quarter. 92.97% of the stock is owned by institutional investors.

Alnylam Pharmaceuticals Price Performance

Shares of ALNY traded up $2.17 during mid-day trading on Friday, reaching $331.94. The stock had a trading volume of 431,157 shares, compared to its average volume of 853,986. The firm has a market cap of $43.28 billion, a price-to-earnings ratio of -158.82 and a beta of 0.23. Alnylam Pharmaceuticals, Inc. has a 12 month low of $205.87 and a 12 month high of $333.70. The business has a fifty day moving average of $293.35 and a 200 day moving average of $265.48. The company has a debt-to-equity ratio of 8.88, a quick ratio of 2.98 and a current ratio of 3.04.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last issued its earnings results on Thursday, May 1st. The biopharmaceutical company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.07). The firm had revenue of $594.19 million during the quarter, compared to the consensus estimate of $584.32 million. Alnylam Pharmaceuticals had a negative return on equity of 510.31% and a negative net margin of 11.49%. The company's quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the company posted ($0.16) EPS. Equities analysts predict that Alnylam Pharmaceuticals, Inc. will post -1.7 EPS for the current year.

Insider Activity

In related news, CEO Yvonne Greenstreet sold 19,297 shares of Alnylam Pharmaceuticals stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $306.00, for a total transaction of $5,904,882.00. Following the sale, the chief executive officer owned 48,948 shares of the company's stock, valued at approximately $14,978,088. This trade represents a 28.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.50% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ALNY. Chardan Capital upped their target price on shares of Alnylam Pharmaceuticals from $300.00 to $325.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Citigroup lifted their target price on shares of Alnylam Pharmaceuticals from $338.00 to $351.00 and gave the company a "buy" rating in a report on Friday, March 21st. Wall Street Zen lowered Alnylam Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. Needham & Company LLC increased their price objective on shares of Alnylam Pharmaceuticals from $320.00 to $377.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. Finally, Redburn Atlantic began coverage on shares of Alnylam Pharmaceuticals in a report on Monday, March 31st. They issued a "buy" rating and a $353.00 target price for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $340.00.

Alnylam Pharmaceuticals Profile

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.