CIBC Asset Management Inc Increases Holdings in Alnylam Pharmaceuticals, Inc. $ALNY

Key Points

• CIBC Asset Management boosted its Alnylam Pharmaceuticals stake by 442.6% in the fourth quarter, ending with 29,832 shares valued at about $11.9 million.
• Other institutional investors also increased exposure, and 92.97% of Alnylam’s stock is now held by hedge funds and other institutions.
• Alnylam reported strong quarterly results, with EPS of $1.99 versus $0.87 expected and revenue up 96.4% year over year to $1.17 billion; analysts currently rate the stock a Moderate Buy with a consensus target of $463.13.

CIBC Asset Management Inc grew its holdings in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report) by 442.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,832 shares of the biopharmaceutical company's stock after acquiring an additional 24,334 shares during the period. CIBC Asset Management Inc's holdings in Alnylam Pharmaceuticals were worth $11,863,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in ALNY. iA Global Asset Management Inc. lifted its position in shares of Alnylam Pharmaceuticals by 979.5% during the fourth quarter. iA Global Asset Management Inc. now owns 17,780 shares of the biopharmaceutical company's stock worth $7,070,000 after purchasing an additional 16,133 shares in the last quarter. Perpetual Ltd acquired a new stake in shares of Alnylam Pharmaceuticals during the fourth quarter worth about $2,004,000. Vanguard Group Inc. lifted its position in shares of Alnylam Pharmaceuticals by 2.0% during the third quarter. Vanguard Group Inc. now owns 13,565,452 shares of the biopharmaceutical company's stock worth $6,185,846,000 after purchasing an additional 268,313 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Alnylam Pharmaceuticals by 24.2% during the third quarter. Envestnet Asset Management Inc. now owns 118,964 shares of the biopharmaceutical company's stock worth $54,248,000 after purchasing an additional 23,168 shares in the last quarter. Finally, Linden Advisors LP acquired a new stake in shares of Alnylam Pharmaceuticals during the third quarter worth about $6,550,000. 92.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director David E. I. Pyott sold 3,830 shares of the business's stock in a transaction dated 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 in the company, valued at $473,302.76. The trade was a 70.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Melissa Mclaughlin sold 2,286 shares of the business'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 completion of the sale, the insider owned 9,443 shares in the company, valued at $3,120,156.06. This represents a 19.49% decrease in their ownership of the stock. 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 a total of 7,740 shares of company stock worth $2,420,214 over the last quarter. Insiders own 0.86% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ALNY shares. Royal Bank Of Canada reduced 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 report on Friday, May 1st. Chardan Capital reaffirmed a "buy" rating and issued a $425.00 target price on shares of Alnylam Pharmaceuticals in a report on Wednesday, March 25th. Bank of America reaffirmed a "buy" rating on shares of Alnylam Pharmaceuticals in a report on Thursday, February 12th. Wall Street Zen raised shares of Alnylam Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. Finally, Freedom Capital raised shares of Alnylam Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 17th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $463.13.

Alnylam Pharmaceuticals Price Performance

Shares of NASDAQ ALNY opened at $303.05 on Friday. The firm has a market capitalization of $40.46 billion, a P/E ratio of 82.80 and a beta of 0.29. Alnylam Pharmaceuticals, Inc. has a one year low of $283.10 and a one year high of $495.55. The company's fifty day moving average is $307.66 and its two-hundred day moving average is $349.36. The company has a debt-to-equity ratio of 0.94, a quick ratio of 3.06 and a current ratio of 3.13.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last issued its earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.99 EPS 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 previous year, the firm earned ($0.44) EPS. The business's revenue was up 96.4% on a year-over-year basis. Analysts forecast that Alnylam Pharmaceuticals, Inc. will post 7.47 EPS for the current fiscal year.

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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