Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) Shares Sold by Forsta AP Fonden

Key Points

• Forsta AP Fonden significantly reduced its stake in Alnylam Pharmaceuticals by 52.9%, selling 29,000 shares, while maintaining ownership of 25,800 shares valued at approximately $6.97 million.
• Analysts have raised their price targets for Alnylam Pharmaceuticals, with JPMorgan Chase increasing their target from $348.00 to $475.00, reflecting strong confidence in the company's performance.
• Alnylam reported $0.32 EPS for the last quarter, exceeding estimates by $0.86, and experienced a 17.3% year-over-year revenue increase, showcasing strong financial growth.

Forsta AP Fonden cut its holdings in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report) by 52.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,800 shares of the biopharmaceutical company's stock after selling 29,000 shares during the quarter. Forsta AP Fonden's holdings in Alnylam Pharmaceuticals were worth $6,967,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Park Square Financial Group LLC purchased a new stake in Alnylam Pharmaceuticals during the fourth quarter worth approximately $28,000. Whipplewood Advisors LLC raised its holdings in Alnylam Pharmaceuticals by 208.8% during the first quarter. Whipplewood Advisors LLC now owns 105 shares of the biopharmaceutical company's stock worth $28,000 after purchasing an additional 71 shares in the last quarter. Bessemer Group Inc. lifted its position in shares of Alnylam Pharmaceuticals by 176.9% during the 1st quarter. Bessemer Group Inc. now owns 108 shares of the biopharmaceutical company's stock worth $29,000 after buying an additional 69 shares during the last quarter. Colonial Trust Co SC purchased a new stake in shares of Alnylam Pharmaceuticals during the 4th quarter worth approximately $35,000. Finally, Washington Trust Advisors Inc. boosted its holdings in shares of Alnylam Pharmaceuticals by 53.5% in the 1st quarter. Washington Trust Advisors Inc. now owns 175 shares of the biopharmaceutical company's stock valued at $47,000 after buying an additional 61 shares in the last quarter. 92.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Jefferies Financial Group lifted their price target on shares of Alnylam Pharmaceuticals from $328.00 to $384.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. BMO Capital Markets upped their target price on Alnylam Pharmaceuticals from $300.00 to $360.00 and gave the company an "outperform" rating in a research report on Tuesday, June 24th. Truist Financial began coverage on Alnylam Pharmaceuticals in a research note on Monday, July 21st. They set a "buy" rating and a $385.00 price target on the stock. Citigroup boosted their price objective on Alnylam Pharmaceuticals from $364.00 to $404.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Finally, Wolfe Research upgraded shares of Alnylam Pharmaceuticals from an "underperform" rating to a "peer perform" rating in a research report on Monday, August 4th. Four equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $403.92.

Insider Buying and Selling at Alnylam Pharmaceuticals

In related news, CEO Yvonne Greenstreet sold 31,640 shares of Alnylam Pharmaceuticals stock in a transaction on Friday, May 30th. The stock was sold at an average price of $304.39, for a total value of $9,630,899.60. Following the transaction, the chief executive officer owned 48,948 shares in the company, valued at approximately $14,899,281.72. This trade represents a 39.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.50% of the stock is currently owned by company insiders.

Alnylam Pharmaceuticals Price Performance

Alnylam Pharmaceuticals stock traded up $6.86 during midday trading on Thursday, reaching $439.38. 660,653 shares of the company were exchanged, compared to its average volume of 948,674. The firm's 50-day simple moving average is $339.44 and its 200-day simple moving average is $287.99. Alnylam Pharmaceuticals, Inc. has a 1 year low of $205.87 and a 1 year high of $445.20. The company has a market capitalization of $57.59 billion, a price-to-earnings ratio of -177.77 and a beta of 0.25. The company has a debt-to-equity ratio of 4.10, a quick ratio of 2.75 and a current ratio of 2.80.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.54) by $0.86. Alnylam Pharmaceuticals had a negative return on equity of 273.52% and a negative net margin of 12.96%. The business had revenue of $773,689 billion for the quarter, compared to analysts' expectations of $633.54 million. During the same quarter last year, the firm earned ($0.13) earnings per share. The business's revenue was up 17.3% on a year-over-year basis. On average, analysts anticipate that Alnylam Pharmaceuticals, Inc. will post -1.7 EPS for the current year.

Alnylam Pharmaceuticals Company 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.