Arrowstreet Capital Limited Partnership Trims Position in Alnylam Pharmaceuticals, Inc. $ALNY

Key Points

• Arrowstreet Capital cut its Alnylam Pharmaceuticals stake by 16.9% in the fourth quarter, selling 228,447 shares but still holding 1.13 million shares valued at about $448.2 million.
• Alnylam reported strong quarterly results, with EPS of $1.99 versus $0.87 expected and revenue of $1.17 billion, up 96.4% year over year. The company also beat estimates on the bottom line and maintained solid profitability metrics.
• The stock traded down 2.3% to $282.85, while analysts remain broadly positive with a Moderate Buy consensus and an average price target of $463.13. Recent insider sales and mixed rating changes were also noted.

Arrowstreet Capital Limited Partnership trimmed its holdings in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report) by 16.9% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,127,162 shares of the biopharmaceutical company's stock after selling 228,447 shares during the period. Arrowstreet Capital Limited Partnership owned 0.85% of Alnylam Pharmaceuticals worth $448,216,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in ALNY. HM Payson & Co. purchased a new stake in shares of Alnylam Pharmaceuticals in the fourth quarter valued at about $27,000. Golden State Wealth Management LLC raised its holdings in shares of Alnylam Pharmaceuticals by 100.0% in the fourth quarter. Golden State Wealth Management LLC now owns 72 shares of the biopharmaceutical company's stock valued at $29,000 after buying an additional 36 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Alnylam Pharmaceuticals in the third quarter valued at about $29,000. Ameriflex Group Inc. acquired a new position in shares of Alnylam Pharmaceuticals during the third quarter worth about $32,000. Finally, Manchester Capital Management LLC increased its stake in shares of Alnylam Pharmaceuticals by 600.0% during the fourth quarter. Manchester Capital Management LLC now owns 84 shares of the biopharmaceutical company's stock worth $33,000 after acquiring an additional 72 shares during the period. 92.97% of the stock is owned by hedge funds and other institutional investors.

Alnylam Pharmaceuticals Trading Down 2.3%

Shares of ALNY opened at $282.85 on Friday. The company has a current ratio of 3.13, a quick ratio of 3.06 and a debt-to-equity ratio of 0.94. The firm's 50-day moving average is $304.31 and its two-hundred day moving average is $343.68. Alnylam Pharmaceuticals, Inc. has a twelve month low of $281.77 and a twelve month high of $495.55. The firm has a market capitalization of $37.76 billion, a P/E ratio of 77.28 and a beta of 0.29.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last issued its earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.99 earnings per share for the quarter, topping the consensus estimate of $0.87 by $1.12. Alnylam Pharmaceuticals had a net margin of 11.72% and a return on equity of 85.76%. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period in the prior year, the business posted ($0.44) earnings per share. The firm's revenue for the quarter was up 96.4% compared to the same quarter last year. On average, research analysts predict that Alnylam Pharmaceuticals, Inc. will post 7.47 earnings per share for the current fiscal year.

Insider Activity

In other Alnylam Pharmaceuticals news, Director David E. I. Pyott sold 3,830 shares of the company's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $299.18, for a total transaction of $1,145,859.40. Following the transaction, the director directly owned 1,582 shares in the company, valued at approximately $473,302.76. This represents a 70.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 transaction of $755,340.12. Following the transaction, the insider owned 9,443 shares in the company, valued at $3,120,156.06. The trade was a 19.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders have sold 7,740 shares of company stock worth $2,420,214 over the last 90 days. 0.86% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Alnylam Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Freedom Capital upgraded shares of Alnylam Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 17th. Jefferies Financial Group reiterated a "hold" rating and set a $330.00 price target (down from $522.00) on shares of Alnylam Pharmaceuticals in a research note on Monday, March 16th. Royal Bank Of Canada dropped their price target on shares of Alnylam Pharmaceuticals from $450.00 to $445.00 and set an "outperform" rating on the stock in a research note on Friday, May 1st. Finally, Citigroup assumed coverage on shares of Alnylam Pharmaceuticals in a research note on Tuesday, May 19th. They set a "buy" rating and a $380.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $463.13.

Alnylam Pharmaceuticals Company Profile

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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