Assenagon Asset Management S.A. Buys 103,306 Shares of Alnylam Pharmaceuticals, Inc. $ALNY

Key Points

• Assenagon Asset Management increased its Alnylam Pharmaceuticals stake by 403.7% in Q1, buying 103,306 additional shares and bringing its total holding to 128,896 shares worth about $42.6 million.
• Alnylam posted strong first-quarter results, reporting EPS of $1.99 versus $0.87 expected and revenue of $1.17 billion, up 96.4% from a year earlier.
• Wall Street remains generally positive on the stock, with analysts giving Alnylam a Moderate Buy consensus and an average price target of $463.13, though some firms have recently lowered targets.

Assenagon Asset Management S.A. boosted its stake in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report) by 403.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 128,896 shares of the biopharmaceutical company's stock after purchasing an additional 103,306 shares during the quarter. Assenagon Asset Management S.A. owned about 0.10% of Alnylam Pharmaceuticals worth $42,648,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC acquired a new stake in shares of Alnylam Pharmaceuticals in the 4th quarter valued at about $243,000. Geneos Wealth Management Inc. raised its stake in Alnylam Pharmaceuticals by 372.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 222 shares of the biopharmaceutical company's stock worth $60,000 after buying an additional 175 shares during the period. Flow Traders U.S. LLC acquired a new position in Alnylam Pharmaceuticals during the 2nd quarter worth approximately $241,000. Daiwa Securities Group Inc. boosted its holdings in Alnylam Pharmaceuticals by 0.3% in the second quarter. Daiwa Securities Group Inc. now owns 12,941 shares of the biopharmaceutical company's stock worth $4,220,000 after acquiring an additional 35 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in Alnylam Pharmaceuticals by 70,300.0% in the second quarter. NewEdge Advisors LLC now owns 704 shares of the biopharmaceutical company's stock worth $229,000 after acquiring an additional 703 shares in the last quarter. 92.97% of the stock is owned by institutional investors.

Alnylam Pharmaceuticals Price Performance

Alnylam Pharmaceuticals stock opened at $293.17 on Friday. Alnylam Pharmaceuticals, Inc. has a 52 week low of $273.11 and a 52 week high of $495.55. The company's 50 day moving average price is $297.10 and its two-hundred day moving average price is $332.36. The company has a quick ratio of 3.06, a current ratio of 3.13 and a debt-to-equity ratio of 0.94. The stock has a market cap of $39.14 billion, a P/E ratio of 80.10 and a beta of 0.29.

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

Analysts Set New Price Targets

ALNY has been the subject of a number of recent research reports. 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 for the company. Truist Financial dropped their price objective on shares of Alnylam Pharmaceuticals from $515.00 to $505.00 and set a "buy" rating on the stock in a research note on Monday, April 13th. Wall Street Zen cut shares of Alnylam Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a report on Sunday, June 21st. Jefferies Financial Group reissued a "hold" rating and set a $330.00 target price (down from $522.00) on shares of Alnylam Pharmaceuticals in a research report on Monday, March 16th. Finally, Wells Fargo & Company raised their price target on shares of Alnylam Pharmaceuticals from $376.00 to $377.00 and gave the company an "equal weight" rating in a research report on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Alnylam Pharmaceuticals has an average rating of "Moderate Buy" and an average price target of $463.13.

Insider Buying and Selling at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, insider Melissa Mclaughlin sold 2,286 shares of the company's stock in a transaction on Monday, April 6th. The stock was sold at an average price of $330.42, for a total value of $755,340.12. Following the completion of the transaction, the insider owned 9,443 shares in the company, valued at $3,120,156.06. This represents a 19.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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. Also, Director David E. I. Pyott sold 3,830 shares of the firm's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $299.18, for a total value of $1,145,859.40. Following the sale, the director directly owned 1,582 shares of the company's stock, valued at approximately $473,302.76. This represents a 70.77% 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. In the last three months, insiders sold 7,740 shares of company stock worth $2,420,214. Insiders own 0.86% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.