Eventide Asset Management LLC Sells 67,704 Shares of Alnylam Pharmaceuticals, Inc. $ALNY

Key Points

• Eventide Asset Management cut its Alnylam Pharmaceuticals stake by 66.5% in Q4, selling 67,704 shares and leaving it with 34,035 shares valued at about $13.5 million.
• Alnylam reported strong quarterly results, with EPS of $1.99 versus the $0.87 estimate and revenue of $1.17 billion, up 96.4% year over year.
• Despite insider selling and a pullback from some analysts, Wall Street still sees upside: Alnylam has a Moderate Buy consensus and an average price target of $463.13.

Eventide Asset Management LLC lessened its holdings in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report) by 66.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 34,035 shares of the biopharmaceutical company's stock after selling 67,704 shares during the quarter. Eventide Asset Management LLC's holdings in Alnylam Pharmaceuticals were worth $13,534,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Avidity Partners Management LP bought a new stake in shares of Alnylam Pharmaceuticals in the fourth quarter valued at about $8,351,000. Prosight Management LP bought a new stake in shares of Alnylam Pharmaceuticals in the fourth quarter valued at about $6,803,000. FORA Capital LLC boosted its position in shares of Alnylam Pharmaceuticals by 27.5% in the fourth quarter. FORA Capital LLC now owns 3,466 shares of the biopharmaceutical company's stock valued at $1,378,000 after acquiring an additional 747 shares during the period. Kestra Advisory Services LLC boosted its position in shares of Alnylam Pharmaceuticals by 12.5% in the fourth quarter. Kestra Advisory Services LLC now owns 1,851 shares of the biopharmaceutical company's stock valued at $736,000 after acquiring an additional 206 shares during the period. Finally, Transamerica Financial Advisors LLC boosted its position in shares of Alnylam Pharmaceuticals by 11,076.6% in the fourth quarter. Transamerica Financial Advisors LLC now owns 8,606 shares of the biopharmaceutical company's stock valued at $3,422,000 after acquiring an additional 8,529 shares during the period. Institutional investors own 92.97% of the company's stock.

Alnylam Pharmaceuticals Stock Performance

ALNY opened at $282.85 on Monday. Alnylam Pharmaceuticals, Inc. has a twelve month low of $281.77 and a twelve month high of $495.55. The company has a 50-day simple moving average of $304.31 and a 200 day simple moving average of $343.04. The company has a quick ratio of 3.06, a current ratio of 3.13 and a debt-to-equity ratio of 0.94. The stock 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 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. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.12 billion. Alnylam Pharmaceuticals had a return on equity of 85.76% and a net margin of 11.72%.The business's quarterly revenue was up 96.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.44) earnings per share. Analysts predict that Alnylam Pharmaceuticals, Inc. will post 7.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group reissued a "hold" rating and issued a $330.00 target price (down from $522.00) on shares of Alnylam Pharmaceuticals in a research report on Monday, March 16th. Canaccord Genuity Group boosted their target price on shares of Alnylam Pharmaceuticals from $415.00 to $429.00 and gave the company a "buy" rating in a research report on Tuesday, February 17th. Chardan Capital reaffirmed a "buy" rating and set a $425.00 price objective on shares of Alnylam Pharmaceuticals in a research report on Wednesday, March 25th. Truist Financial cut their price objective on shares of Alnylam Pharmaceuticals from $515.00 to $505.00 and set a "buy" rating for the company in a research report on Monday, April 13th. Finally, Royal Bank Of Canada cut their price objective on shares of Alnylam Pharmaceuticals from $450.00 to $445.00 and set an "outperform" rating for the company in a research report on Friday, May 1st. 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $463.13.

Insider Activity

In other Alnylam Pharmaceuticals news, 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 transaction, the insider owned 9,443 shares of the company's stock, valued at approximately $3,120,156.06. The trade was a 19.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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. Also, Director David E. I. Pyott sold 3,830 shares of the business's stock in a transaction dated 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 transaction, the director directly owned 1,582 shares of the company's stock, valued at approximately $473,302.76. The trade was a 70.77% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 7,740 shares of company stock valued at $2,420,214. Insiders own 0.86% of the company's stock.

Alnylam Pharmaceuticals 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.

Want to see what other hedge funds are holding ALNY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.