Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) Shares Sold by Skandinaviska Enskilda Banken AB publ

Key Points

• Skandinaviska Enskilda Banken AB publ has reduced its stake in Alnylam Pharmaceuticals by 31.4%, now owning 86,124 shares valued at approximately $23.27 million.
• Multiple hedge funds, including Capital World Investors and T. Rowe Price Investment Management, have increased their holdings, with institutional investors collectively owning 92.97% of the company's stock.
• Despite missing earnings estimates, Alnylam's revenue increased by 20.2% year-over-year, signaling growth potential and contributing to a positive outlook from analysts who predominantly hold a "buy" rating on the stock.

Skandinaviska Enskilda Banken AB publ lessened its holdings in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report) by 31.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 86,124 shares of the biopharmaceutical company's stock after selling 39,367 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned about 0.07% of Alnylam Pharmaceuticals worth $23,269,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in ALNY. Whipplewood Advisors LLC raised its holdings in Alnylam Pharmaceuticals by 208.8% in the first quarter. Whipplewood Advisors LLC now owns 105 shares of the biopharmaceutical company's stock valued at $28,000 after acquiring an additional 71 shares in the last quarter. Bessemer Group Inc. raised its holdings in Alnylam Pharmaceuticals by 176.9% in the first quarter. Bessemer Group Inc. now owns 108 shares of the biopharmaceutical company's stock valued at $29,000 after acquiring an additional 69 shares in the last quarter. Park Square Financial Group LLC acquired a new stake in Alnylam Pharmaceuticals in the fourth quarter valued at approximately $28,000. Colonial Trust Co SC acquired a new stake in Alnylam Pharmaceuticals in the fourth quarter valued at approximately $35,000. Finally, Washington Trust Advisors Inc. raised its holdings in Alnylam Pharmaceuticals by 53.5% in the first quarter. Washington Trust Advisors Inc. now owns 175 shares of the biopharmaceutical company's stock valued at $47,000 after acquiring an additional 61 shares in the last quarter. Institutional investors and hedge funds own 92.97% of the company's stock.

Wall Street Analysts Forecast Growth

ALNY has been the topic of a number of research analyst reports. Wells Fargo & Company raised their price objective on shares of Alnylam Pharmaceuticals from $287.00 to $333.00 and gave the stock an "equal weight" rating in a report on Monday, June 30th. HC Wainwright reissued a "buy" rating and set a $500.00 price objective on shares of Alnylam Pharmaceuticals in a report on Wednesday, April 2nd. JPMorgan Chase & Co. raised their target price on shares of Alnylam Pharmaceuticals from $338.00 to $348.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Morgan Stanley lowered their target price on shares of Alnylam Pharmaceuticals from $284.00 to $268.00 and set an "equal weight" rating on the stock in a research report on Friday, April 11th. Finally, BMO Capital Markets raised their target price on shares of Alnylam Pharmaceuticals from $300.00 to $360.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, Alnylam Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus target price of $350.75.

Alnylam Pharmaceuticals Price Performance

Alnylam Pharmaceuticals stock traded up $12.85 during midday trading on Wednesday, reaching $343.40. The company's stock had a trading volume of 853,036 shares, compared to its average volume of 895,013. Alnylam Pharmaceuticals, Inc. has a fifty-two week low of $205.87 and a fifty-two week high of $345.98. The company has a debt-to-equity ratio of 8.88, a quick ratio of 2.98 and a current ratio of 3.04. The stock's 50 day simple moving average is $312.22 and its 200 day simple moving average is $275.76. The firm has a market capitalization of $44.78 billion, a PE ratio of -164.26 and a beta of 0.23.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The biopharmaceutical company reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.07). The firm had revenue of $594.19 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the firm earned ($0.16) EPS. On average, equities research analysts forecast that Alnylam Pharmaceuticals, Inc. will post -1.7 earnings per share for the current year.

Insider Activity

In other 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 transaction of $9,630,899.60. Following the completion of the transaction, the chief executive officer owned 48,948 shares of the company's stock, valued at $14,899,281.72. The trade was a 39.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.20% of the stock is owned by company insiders.

About Alnylam Pharmaceuticals

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.