Gabelli Funds LLC Decreases Stock Position in Alnylam Pharmaceuticals, Inc. $ALNY

Key Points

• Gabelli Funds LLC fully exited its position in Alnylam Pharmaceuticals in the fourth quarter, selling 1,999,450 shares and leaving it with just 550 shares valued at about $219,000.
• Despite the fund selling, institutional ownership remains high, with 92.97% of Alnylam held by hedge funds and other institutional investors. Several other firms also recently opened new positions in the stock.
• Alnylam reported a strong quarter, with EPS of $1.99 versus the $0.87 estimate and revenue of $1.17 billion, up 96.4% year over year. Analysts remain broadly positive, with a consensus rating of Moderate Buy and an average price target of $463.13.

Gabelli Funds LLC reduced its position in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report) by 100.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 550 shares of the biopharmaceutical company's stock after selling 1,999,450 shares during the period. Gabelli Funds LLC's holdings in Alnylam Pharmaceuticals were worth $219,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in ALNY. Root Financial Partners LLC purchased a new position in Alnylam Pharmaceuticals in the 3rd quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd purchased a new stake in Alnylam Pharmaceuticals during the 3rd quarter valued at $29,000. Ameriflex Group Inc. purchased a new stake in Alnylam Pharmaceuticals during the 3rd quarter valued at $32,000. Aster Capital Management DIFC Ltd purchased a new stake in Alnylam Pharmaceuticals during the 3rd quarter valued at $36,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Alnylam Pharmaceuticals during the 3rd quarter valued at $39,000. 92.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ALNY shares. 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 note on Tuesday, February 17th. Bank of America reissued a "buy" rating on shares of Alnylam Pharmaceuticals in a research report on Thursday, February 12th. 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. Chardan Capital reissued a "buy" rating and set a $425.00 price objective on shares of Alnylam Pharmaceuticals in a research report on Wednesday, March 25th. Finally, Wall Street Zen raised shares of Alnylam Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Alnylam Pharmaceuticals has a consensus rating of "Moderate Buy" and an average price target of $463.13.

Alnylam Pharmaceuticals Stock Performance

ALNY opened at $297.45 on Monday. The firm has a market cap of $39.71 billion, a P/E ratio of 81.27 and a beta of 0.31. Alnylam Pharmaceuticals, Inc. has a 1-year low of $284.19 and a 1-year high of $495.55. The company has a 50 day simple moving average of $311.16 and a two-hundred day simple moving average of $358.96. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.13 and a quick ratio of 3.06.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last issued its earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.99 earnings per share for the quarter, topping the consensus estimate of $0.87 by $1.12. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.12 billion. Alnylam Pharmaceuticals had a net margin of 11.72% and a return on equity of 85.76%. Alnylam Pharmaceuticals's quarterly revenue was up 96.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.44) EPS. Equities analysts forecast that Alnylam Pharmaceuticals, Inc. will post 7.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Kevin Joseph Fitzgerald sold 1,652 shares of the company's stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $319.73, for a total value of $528,193.96. Following the completion of the transaction, the executive vice president owned 21,860 shares of the company's stock, valued at approximately $6,989,297.80. This represents a 7.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Melissa Mclaughlin sold 2,286 shares of the company's stock in a transaction on 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 directly owned 9,443 shares of the company's stock, valued at $3,120,156.06. This represents a 19.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 have sold a total of 21,255 shares of company stock worth $6,930,337 in the last three months. Corporate insiders own 0.86% of the company's stock.

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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