First Trust Advisors LP Sells 41,434 Shares of Alnylam Pharmaceuticals, Inc. $ALNY

Key Points

• First Trust Advisors LP cut its stake in Alnylam by 16.5% in Q3, selling 41,434 shares and leaving the fund with 210,383 shares worth about $95.94 million.
• Alnylam missed quarterly expectations (EPS $1.25 vs. $1.43 est.; revenue $1.10B vs. $1.16B est.) despite revenue rising 84.9% year-over-year, and analysts maintain a consensus "Moderate Buy" with an average target of about $477.96.
• Insiders have been selling recently: CEO Yvonne Greenstreet sold 9,577 shares and executives/insiders have sold 53,923 shares in the past 90 days, while institutional ownership remains very high (~92.97%).

First Trust Advisors LP trimmed its holdings in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report) by 16.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 210,383 shares of the biopharmaceutical company's stock after selling 41,434 shares during the period. First Trust Advisors LP owned 0.16% of Alnylam Pharmaceuticals worth $95,935,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ALNY. Consolidated Portfolio Review Corp bought a new stake in Alnylam Pharmaceuticals in the 3rd quarter valued at $274,000. Crossmark Global Holdings Inc. boosted its position in Alnylam Pharmaceuticals by 17.2% during the third quarter. Crossmark Global Holdings Inc. now owns 1,224 shares of the biopharmaceutical company's stock worth $558,000 after purchasing an additional 180 shares during the period. Orion Porfolio Solutions LLC increased its holdings in shares of Alnylam Pharmaceuticals by 25.3% in the third quarter. Orion Porfolio Solutions LLC now owns 5,398 shares of the biopharmaceutical company's stock valued at $2,461,000 after purchasing an additional 1,089 shares during the last quarter. Insigneo Advisory Services LLC acquired a new position in shares of Alnylam Pharmaceuticals in the third quarter valued at $205,000. Finally, Victory Capital Management Inc. raised its position in shares of Alnylam Pharmaceuticals by 15.4% in the third quarter. Victory Capital Management Inc. now owns 180,349 shares of the biopharmaceutical company's stock valued at $82,239,000 after purchasing an additional 24,055 shares during the period. 92.97% of the stock is currently owned by institutional investors.

Alnylam Pharmaceuticals Stock Performance

ALNY opened at $323.53 on Tuesday. The firm has a market cap of $42.91 billion, a P/E ratio of 189.20 and a beta of 0.36. Alnylam Pharmaceuticals, Inc. has a 52-week low of $205.87 and a 52-week high of $495.55. The company has a debt-to-equity ratio of 1.28, a quick ratio of 2.71 and a current ratio of 2.76. The business's fifty day moving average is $350.74 and its 200-day moving average is $413.17.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last issued its quarterly earnings results on Thursday, February 12th. The biopharmaceutical company reported $1.25 EPS for the quarter, missing analysts' consensus estimates of $1.43 by ($0.18). Alnylam Pharmaceuticals had a return on equity of 69.02% and a net margin of 6.43%.The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the business posted ($0.65) EPS. The firm's revenue for the quarter was up 84.9% on a year-over-year basis. Sell-side analysts expect that Alnylam Pharmaceuticals, Inc. will post -1.7 EPS for the current fiscal year.

Insider Activity

In other news, CEO Yvonne Greenstreet sold 9,577 shares of the company's stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $362.86, for a total transaction of $3,475,110.22. Following the completion of the sale, the chief executive officer owned 78,411 shares of the company's stock, valued at approximately $28,452,215.46. This represents a 10.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Jeffrey V. Poulton sold 2,780 shares of the stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $362.87, for a total transaction of $1,008,778.60. Following the sale, the executive vice president owned 57,465 shares in the company, valued at $20,852,324.55. This represents a 4.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 53,923 shares of company stock valued at $18,072,087 in the last 90 days. 1.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ALNY has been the subject of a number of research reports. Royal Bank Of Canada cut their target price on shares of Alnylam Pharmaceuticals from $500.00 to $465.00 and set an "outperform" rating for the company in a research note on Tuesday, January 20th. Chardan Capital decreased their price target on shares of Alnylam Pharmaceuticals from $475.00 to $425.00 and set a "buy" rating on the stock in a research note on Friday, February 13th. Wall Street Zen cut shares of Alnylam Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a report on Saturday, February 14th. Canaccord Genuity Group boosted their price objective on Alnylam Pharmaceuticals from $415.00 to $429.00 and gave the stock a "buy" rating in a report on Tuesday, February 17th. Finally, Bank of America reaffirmed a "buy" rating on shares of Alnylam Pharmaceuticals in a research report on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Alnylam Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus target price of $477.96.

About Alnylam Pharmaceuticals

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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