Merit Financial Group LLC Has $1.44 Million Position in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)

Merit Financial Group LLC increased its position in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report) by 113.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,314 shares of the biopharmaceutical company's stock after buying an additional 2,819 shares during the quarter. Merit Financial Group LLC's holdings in Alnylam Pharmaceuticals were worth $1,435,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ALNY. Regeneron Pharmaceuticals Inc. acquired a new stake in shares of Alnylam Pharmaceuticals during the fourth quarter valued at about $1,045,822,000. Norges Bank bought a new position in shares of Alnylam Pharmaceuticals in the fourth quarter worth $577,941,000. Capital Research Global Investors increased its holdings in shares of Alnylam Pharmaceuticals by 32.9% in the 4th quarter. Capital Research Global Investors now owns 6,968,513 shares of the biopharmaceutical company's stock worth $1,639,767,000 after buying an additional 1,724,610 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in shares of Alnylam Pharmaceuticals by 39.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,384,449 shares of the biopharmaceutical company's stock valued at $1,031,705,000 after purchasing an additional 1,245,195 shares during the period. Finally, Marshall Wace LLP lifted its holdings in Alnylam Pharmaceuticals by 496.6% in the 4th quarter. Marshall Wace LLP now owns 378,649 shares of the biopharmaceutical company's stock worth $89,100,000 after buying an additional 315,182 shares during the period. 92.97% of the stock is currently owned by institutional investors.

Alnylam Pharmaceuticals Stock Down 2.3%

ALNY traded down $7.17 during trading on Friday, hitting $300.83. The stock had a trading volume of 954,848 shares, compared to its average volume of 931,762. The stock has a 50 day simple moving average of $264.17 and a two-hundred day simple moving average of $257.14. The company has a market capitalization of $39.22 billion, a PE ratio of -138.63 and a beta of 0.22. The company has a debt-to-equity ratio of 15.27, a quick ratio of 2.71 and a current ratio of 2.78. Alnylam Pharmaceuticals, Inc. has a twelve month low of $147.25 and a twelve month high of $310.22.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The biopharmaceutical company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.07). The firm had revenue of $594.19 million for the quarter, compared to analyst estimates of $584.32 million. Alnylam Pharmaceuticals's revenue for the quarter was up 20.2% on a year-over-year basis. During the same period last year, the business posted ($0.16) earnings per share. On average, research analysts predict that Alnylam Pharmaceuticals, Inc. will post -1.7 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ALNY. Citigroup upped their price target on Alnylam Pharmaceuticals from $338.00 to $351.00 and gave the company a "buy" rating in a report on Friday, March 21st. Morgan Stanley reduced their price objective on Alnylam Pharmaceuticals from $284.00 to $268.00 and set an "equal weight" rating on the stock in a report on Friday, April 11th. Bank of America boosted their price objective on shares of Alnylam Pharmaceuticals from $302.00 to $325.00 and gave the stock a "buy" rating in a research note on Friday, March 21st. Stifel Nicolaus raised their target price on shares of Alnylam Pharmaceuticals from $300.00 to $345.00 and gave the stock a "buy" rating in a report on Monday, March 31st. Finally, Chardan Capital lifted their price target on shares of Alnylam Pharmaceuticals from $300.00 to $325.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $319.17.

Insider Buying and Selling

In related news, CEO Yvonne Greenstreet sold 19,297 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $306.00, for a total value of $5,904,882.00. Following the transaction, the chief executive officer now owns 48,948 shares in the company, valued at approximately $14,978,088. This trade represents a 28.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.50% of the company's stock.

About Alnylam Pharmaceuticals

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.