Handelsbanken Fonder AB Sells 29,207 Shares of Alnylam Pharmaceuticals, Inc. $ALNY

Handelsbanken Fonder AB cut its holdings in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report) by 21.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 107,255 shares of the biopharmaceutical company's stock after selling 29,207 shares during the quarter. Handelsbanken Fonder AB owned 0.08% of Alnylam Pharmaceuticals worth $32,287,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in shares of Alnylam Pharmaceuticals by 6.1% during the 4th quarter. Geode Capital Management LLC now owns 2,650,722 shares of the biopharmaceutical company's stock valued at $1,056,884,000 after purchasing an additional 151,480 shares during the last quarter. Norges Bank bought a new stake in Alnylam Pharmaceuticals in the fourth quarter worth $895,816,000. Orbis Allan Gray Ltd boosted its position in Alnylam Pharmaceuticals by 29.8% during the second quarter. Orbis Allan Gray Ltd now owns 2,121,412 shares of the biopharmaceutical company's stock valued at $691,771,000 after buying an additional 486,489 shares during the period. Legal & General Group Plc boosted its position in Alnylam Pharmaceuticals by 8.3% during the fourth quarter. Legal & General Group Plc now owns 961,496 shares of the biopharmaceutical company's stock valued at $382,339,000 after buying an additional 73,716 shares during the period. Finally, AQR Capital Management LLC grew its stake in shares of Alnylam Pharmaceuticals by 23.6% during the fourth quarter. AQR Capital Management LLC now owns 919,959 shares of the biopharmaceutical company's stock valued at $365,822,000 after buying an additional 175,951 shares during the last quarter. 92.97% of the stock is currently owned by institutional investors.

Alnylam Pharmaceuticals Price Performance

Shares of NASDAQ ALNY opened at $221.20 on Wednesday. Alnylam Pharmaceuticals, Inc. has a 1 year low of $197.81 and a 1 year high of $495.55. The stock has a market capitalization of $29.60 billion, a P/E ratio of 41.12 and a beta of 0.30. The company's 50-day moving average is $277.25 and its 200 day moving average is $303.90. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.05 and a quick ratio of 2.99.

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 transaction, the director owned 1,582 shares in the company, valued at approximately $473,302.76. This represents a 70.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.86% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on ALNY shares. Stifel Nicolaus decreased their price objective on Alnylam Pharmaceuticals from $444.00 to $318.00 and set a "buy" rating on the stock in a report on Friday, July 31st. Weiss Ratings upgraded Alnylam Pharmaceuticals from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, July 31st. Sanford C. Bernstein raised Alnylam Pharmaceuticals to a "strong-buy" rating in a research note on Wednesday, July 29th. Wells Fargo & Company lowered their price objective on Alnylam Pharmaceuticals from $377.00 to $316.00 and set an "equal weight" rating for the company in a research report on Friday, July 31st. Finally, JPMorgan Chase & Co. dropped their price objective on Alnylam Pharmaceuticals from $400.00 to $375.00 and set an "overweight" rating for the company in a research note on Friday, July 31st. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $396.72.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source