Bank of New York Mellon Corp bought a new position in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 492,071 shares of the biopharmaceutical company's stock, valued at approximately $148,128,000. Bank of New York Mellon Corp owned approximately 0.37% of Alnylam Pharmaceuticals at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ALNY. Daiwa Securities Group Inc. grew its holdings in shares of Alnylam Pharmaceuticals by 0.3% in the second quarter. Daiwa Securities Group Inc. now owns 12,941 shares of the biopharmaceutical company's stock valued at $4,220,000 after purchasing an additional 35 shares in the last quarter. Golden State Wealth Management LLC raised its stake in Alnylam Pharmaceuticals by 100.0% during the fourth quarter. Golden State Wealth Management LLC now owns 72 shares of the biopharmaceutical company's stock valued at $29,000 after purchasing an additional 36 shares in the last quarter. Coldstream Capital Management Inc. lifted its position in Alnylam Pharmaceuticals by 2.4% during the third quarter. Coldstream Capital Management Inc. now owns 1,640 shares of the biopharmaceutical company's stock valued at $748,000 after purchasing an additional 38 shares during the last quarter. Atlantic Union Bankshares Corp lifted its position in Alnylam Pharmaceuticals by 20.9% during the fourth quarter. Atlantic Union Bankshares Corp now owns 231 shares of the biopharmaceutical company's stock valued at $92,000 after purchasing an additional 40 shares during the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC grew its stake in shares of Alnylam Pharmaceuticals by 3.3% in the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 1,266 shares of the biopharmaceutical company's stock worth $577,000 after buying an additional 40 shares in the last quarter. 92.97% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several analysts have recently issued reports on the stock. HC Wainwright decreased their target price on shares of Alnylam Pharmaceuticals from $485.00 to $455.00 and set a "buy" rating on the stock in a research report on Friday, July 31st. Wells Fargo & Company dropped their price target on Alnylam Pharmaceuticals from $316.00 to $256.00 and set an "equal weight" rating for the company in a research report on Friday, August 14th. Royal Bank Of Canada reduced their price objective on Alnylam Pharmaceuticals from $445.00 to $350.00 and set an "outperform" rating on the stock in a research note on Friday, July 31st. Stifel Nicolaus decreased their price objective on Alnylam Pharmaceuticals from $444.00 to $318.00 and set a "buy" rating on the stock in a research report on Friday, July 31st. Finally, Raymond James Financial raised Alnylam Pharmaceuticals from an "outperform" rating to a "strong-buy" rating and set a $420.00 price objective for the company in a research note on Monday, August 3rd. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $386.62.
Read Our Latest Research Report on Alnylam Pharmaceuticals
Alnylam Pharmaceuticals Stock Performance
Alnylam Pharmaceuticals stock opened at $236.22 on Monday. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.05 and a quick ratio of 2.99. Alnylam Pharmaceuticals, Inc. has a 1-year low of $197.81 and a 1-year high of $495.55. The firm has a market capitalization of $31.61 billion, a P/E ratio of 43.91 and a beta of 0.30. The company's 50-day moving average is $267.02 and its 200 day moving average is $297.02.
Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last announced its earnings results on Thursday, July 30th. The biopharmaceutical company reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.21. Alnylam Pharmaceuticals had a return on equity of 84.93% and a net margin of 15.26%.The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the previous year, the business earned ($0.51) earnings per share. The company's revenue for the quarter was up 66.9% compared to the same quarter last year. Research analysts forecast that Alnylam Pharmaceuticals, Inc. will post 6.59 EPS for the current year.
Insider Buying and Selling
In other Alnylam Pharmaceuticals news, Director David E. I. Pyott sold 3,830 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $299.18, for a total value of $1,145,859.40. Following the sale, the director owned 1,582 shares in the company, valued at $473,302.76. This trade represents a 70.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.86% of the stock is owned by company insiders.
Alnylam Pharmaceuticals Profile
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Free Report)
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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