Kentucky Retirement Systems Insurance Trust Fund Invests $1.01 Million in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)

Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,746 shares of the biopharmaceutical company's stock, valued at approximately $1,011,000.

Other hedge funds have also made changes to their positions in the company. Whipplewood Advisors LLC raised its position in Alnylam Pharmaceuticals by 208.8% during the first quarter. Whipplewood Advisors LLC now owns 105 shares of the biopharmaceutical company's stock valued at $28,000 after acquiring an additional 71 shares in the last quarter. Larson Financial Group LLC raised its position in Alnylam Pharmaceuticals by 187.2% during the fourth quarter. Larson Financial Group LLC now owns 112 shares of the biopharmaceutical company's stock valued at $26,000 after acquiring an additional 73 shares in the last quarter. Park Square Financial Group LLC bought a new position in Alnylam Pharmaceuticals during the fourth quarter valued at approximately $28,000. Colonial Trust Co SC bought a new position in Alnylam Pharmaceuticals during the fourth quarter valued at approximately $35,000. Finally, OFI Invest Asset Management bought a new position in Alnylam Pharmaceuticals during the fourth quarter valued at approximately $35,000. 92.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Scotiabank raised their price objective on shares of Alnylam Pharmaceuticals from $338.00 to $342.00 and gave the company a "sector outperform" rating in a research report on Monday, March 31st. UBS Group raised their price objective on shares of Alnylam Pharmaceuticals from $331.00 to $349.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Morgan Stanley cut their price objective on shares of Alnylam Pharmaceuticals from $284.00 to $268.00 and set an "equal weight" rating on the stock in a research report on Friday, April 11th. BMO Capital Markets increased their price target on Alnylam Pharmaceuticals from $300.00 to $360.00 and gave the company an "outperform" rating in a report on Tuesday. Finally, Redburn Atlantic began coverage on shares of Alnylam Pharmaceuticals in a research note on Monday, March 31st. They issued a "buy" rating and a $353.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-one have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $324.83.

Insider Transactions at Alnylam Pharmaceuticals

In other news, CEO Yvonne Greenstreet sold 19,297 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $306.00, for a total transaction of $5,904,882.00. Following the completion of the transaction, the chief executive officer now directly owns 48,948 shares of the company's stock, valued at approximately $14,978,088. This trade represents a 28.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.50% of the stock is owned by insiders.

Alnylam Pharmaceuticals Stock Performance

Alnylam Pharmaceuticals stock traded down $3.06 during mid-day trading on Wednesday, reaching $321.94. The company had a trading volume of 632,571 shares, compared to its average volume of 879,749. The company has a quick ratio of 2.98, a current ratio of 3.04 and a debt-to-equity ratio of 8.88. Alnylam Pharmaceuticals, Inc. has a 52 week low of $205.87 and a 52 week high of $326.03. The company has a 50 day moving average of $282.80 and a 200-day moving average of $262.36. The firm has a market cap of $41.98 billion, a price-to-earnings ratio of -154.04 and a beta of 0.22.

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

Alnylam Pharmaceuticals Profile

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.