Envestnet Asset Management Inc. Buys 6,033 Shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)

Envestnet Asset Management Inc. boosted its position in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report) by 9.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 72,047 shares of the biopharmaceutical company's stock after acquiring an additional 6,033 shares during the quarter. Envestnet Asset Management Inc. owned 0.06% of Alnylam Pharmaceuticals worth $19,454,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of ALNY. Bessemer Group Inc. boosted its stake in Alnylam Pharmaceuticals by 176.9% during the first quarter. Bessemer Group Inc. now owns 108 shares of the biopharmaceutical company's stock valued at $29,000 after buying an additional 69 shares during the last quarter. GAMMA Investing LLC raised its position in Alnylam Pharmaceuticals by 14.3% during the first quarter. GAMMA Investing LLC now owns 616 shares of the biopharmaceutical company's stock valued at $166,000 after purchasing an additional 77 shares during the period. Brighton Jones LLC purchased a new stake in Alnylam Pharmaceuticals during the fourth quarter valued at approximately $243,000. Silvercrest Asset Management Group LLC purchased a new stake in Alnylam Pharmaceuticals during the fourth quarter valued at approximately $1,151,000. Finally, Amalgamated Bank raised its position in Alnylam Pharmaceuticals by 4.3% during the first quarter. Amalgamated Bank now owns 8,853 shares of the biopharmaceutical company's stock valued at $2,390,000 after purchasing an additional 369 shares during the period. Institutional investors own 92.97% of the company's stock.

Insider Buying and Selling

In other news, CEO Yvonne Greenstreet sold 31,640 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $304.39, for a total value of $9,630,899.60. Following the completion of the transaction, the chief executive officer directly owned 48,948 shares in the company, valued at $14,899,281.72. This trade represents a 39.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.50% of the company's stock.

Alnylam Pharmaceuticals Stock Down 1.3%

ALNY stock traded down $4.16 during trading on Friday, reaching $320.53. The stock had a trading volume of 581,322 shares, compared to its average volume of 852,386. Alnylam Pharmaceuticals, Inc. has a 1-year low of $205.87 and a 1-year high of $333.70. The company has a current ratio of 3.04, a quick ratio of 2.98 and a debt-to-equity ratio of 8.88. The company has a market capitalization of $41.79 billion, a P/E ratio of -153.36 and a beta of 0.23. The firm has a fifty day moving average price of $306.46 and a 200 day moving average price of $271.78.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last released its earnings results on Thursday, May 1st. The biopharmaceutical company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.07). Alnylam Pharmaceuticals had a negative return on equity of 510.31% and a negative net margin of 11.49%. The company had revenue of $594.19 million during the quarter, compared to the consensus estimate of $584.32 million. During the same period in the previous year, the firm posted ($0.16) EPS. Alnylam Pharmaceuticals's revenue for the quarter was up 20.2% on a year-over-year basis. On average, equities analysts anticipate that Alnylam Pharmaceuticals, Inc. will post -1.7 earnings per share for the current year.

Analysts Set New Price Targets

ALNY has been the topic of several recent analyst reports. Jefferies Financial Group increased their price target on Alnylam Pharmaceuticals from $328.00 to $384.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Chardan Capital raised their price objective on Alnylam Pharmaceuticals from $300.00 to $325.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Wall Street Zen upgraded Alnylam Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. UBS Group raised their price objective on Alnylam Pharmaceuticals from $331.00 to $349.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Finally, JPMorgan Chase & Co. raised their price objective on Alnylam Pharmaceuticals from $338.00 to $348.00 and gave the stock an "overweight" rating in a report on Wednesday. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-two have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $346.13.

About Alnylam Pharmaceuticals

Alnylam Pharmaceuticals, Inc, a biopharmaceutical company, focuses on discovering, developing, and commercializing novel therapeutics based on ribonucleic acid interference. Its marketed products include ONPATTRO (patisiran) for the treatment of the polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults; AMVUTTRA for the treatment of hATTR amyloidosis with polyneuropathy in adults; GIVLAARI for the treatment of adults with acute hepatic porphyria; and OXLUMO for the treatment of primary hyperoxaluria type 1.