Empowered Funds LLC cut its stake in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report) by 72.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,410 shares of the biopharmaceutical company's stock after selling 14,021 shares during the quarter. Empowered Funds LLC's holdings in Alnylam Pharmaceuticals were worth $1,790,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ALNY. Brighton Jones LLC purchased a new position in Alnylam Pharmaceuticals during the fourth quarter valued at approximately $243,000. Geneos Wealth Management Inc. increased its stake in shares of Alnylam Pharmaceuticals by 372.3% in the first quarter. Geneos Wealth Management Inc. now owns 222 shares of the biopharmaceutical company's stock worth $60,000 after purchasing an additional 175 shares in the last quarter. Flow Traders U.S. LLC bought a new stake in shares of Alnylam Pharmaceuticals during the 2nd quarter valued at $241,000. Daiwa Securities Group Inc. raised its position in shares of Alnylam Pharmaceuticals by 0.3% during the 2nd 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 during the period. Finally, NewEdge Advisors LLC lifted its stake in shares of Alnylam Pharmaceuticals by 70,300.0% during the 2nd quarter. NewEdge Advisors LLC now owns 704 shares of the biopharmaceutical company's stock valued at $229,000 after buying an additional 703 shares in the last quarter. 92.97% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
ALNY has been the subject of several recent analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Alnylam Pharmaceuticals from $400.00 to $375.00 and set an "overweight" rating for the company in a report on Friday, July 31st. Royal Bank Of Canada decreased their price target on Alnylam Pharmaceuticals from $445.00 to $350.00 and set an "outperform" rating on the stock in a report on Friday, July 31st. Oppenheimer lowered their price objective on Alnylam Pharmaceuticals from $500.00 to $350.00 and set an "outperform" rating on the stock in a research report on Friday, July 31st. Weiss Ratings raised Alnylam Pharmaceuticals from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, July 31st. Finally, Wall Street Zen cut Alnylam Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Sunday, August 2nd. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $396.72.
Read Our Latest Stock Analysis on ALNY
Alnylam Pharmaceuticals Stock Down 5.5%
Shares of NASDAQ ALNY opened at $216.12 on Friday. The company has a current ratio of 3.05, a quick ratio of 3.06 and a debt-to-equity ratio of 0.75. Alnylam Pharmaceuticals, Inc. has a 12-month low of $197.81 and a 12-month high of $495.55. The firm's 50-day moving average price is $281.78 and its 200-day moving average price is $306.88. The stock has a market capitalization of $28.92 billion, a price-to-earnings ratio of 40.17 and a beta of 0.30.
Insiders Place Their Bets
In other Alnylam Pharmaceuticals news, Director David E. I. Pyott sold 3,830 shares of the company's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $299.18, for a total transaction of $1,145,859.40. Following the sale, the director directly owned 1,582 shares in the company, valued at $473,302.76. This represents a 70.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.86% of the stock is owned by insiders.
About Alnylam Pharmaceuticals
(
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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