Avidity Partners Management LP Makes New $8.35 Million Investment in Alnylam Pharmaceuticals, Inc. $ALNY

Avidity Partners Management LP purchased a new position in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 21,000 shares of the biopharmaceutical company's stock, valued at approximately $8,351,000. Alnylam Pharmaceuticals comprises approximately 2.4% of Avidity Partners Management LP's investment portfolio, making the stock its 9th largest holding.

Several other hedge funds also recently modified their holdings of the company. HM Payson & Co. acquired a new stake in shares of Alnylam Pharmaceuticals in the fourth quarter worth approximately $27,000. Golden State Wealth Management LLC boosted its position 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 worth $29,000 after acquiring an additional 36 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Alnylam Pharmaceuticals in the third quarter worth approximately $29,000. Ameriflex Group Inc. acquired a new stake in shares of Alnylam Pharmaceuticals in the third quarter worth approximately $32,000. Finally, Manchester Capital Management LLC boosted its position in shares of Alnylam Pharmaceuticals by 600.0% in 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 last quarter. 92.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ALNY. Canaccord Genuity Group raised their target price on shares of Alnylam Pharmaceuticals from $415.00 to $429.00 and gave the stock a "buy" rating in a research report on Tuesday, February 17th. Wall Street Zen raised shares of Alnylam Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research report on Saturday. HC Wainwright reissued a "buy" rating and issued a $510.00 target price on shares of Alnylam Pharmaceuticals in a research report on Thursday, June 4th. Wells Fargo & Company raised their target price on shares of Alnylam Pharmaceuticals from $376.00 to $377.00 and gave the stock an "equal weight" rating in a research report on Friday, May 1st. Finally, Citigroup began coverage on shares of Alnylam Pharmaceuticals in a research report on Tuesday, May 19th. They issued a "buy" rating and a $380.00 target price on the stock. Two research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $463.13.

Insider Activity at Alnylam Pharmaceuticals

In related news, Director David E. I. Pyott sold 3,830 shares of the firm's stock in a transaction that occurred 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 transaction, the director owned 1,582 shares in the company, valued at approximately $473,302.76. This trade represents a 70.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Melissa Mclaughlin sold 2,286 shares of the firm's stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $330.42, for a total transaction 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. The trade was a 19.49% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 sold 7,740 shares of company stock worth $2,420,214 in the last 90 days. 0.86% of the stock is currently owned by insiders.

Alnylam Pharmaceuticals Trading Down 2.3%

NASDAQ ALNY opened at $282.85 on Friday. Alnylam Pharmaceuticals, Inc. has a one year low of $281.77 and a one year high of $495.55. The company's 50 day moving average price is $304.31 and its 200 day moving average price is $343.68. The company has a debt-to-equity ratio of 0.94, a quick ratio of 3.06 and a current ratio of 3.13. The firm has a market capitalization of $37.76 billion, a price-to-earnings ratio of 77.28 and a beta of 0.29.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.99 EPS for the quarter, beating 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 firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter last year, the firm posted ($0.44) earnings per share. Alnylam Pharmaceuticals's revenue for the quarter was up 96.4% compared to the same quarter last year. On average, sell-side analysts predict that Alnylam Pharmaceuticals, Inc. will post 7.47 EPS for the current year.

About Alnylam Pharmaceuticals

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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