Mirae Asset Global Investments Co. Ltd. Reduces Stock Position in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)

Mirae Asset Global Investments Co. Ltd. decreased its stake in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report) by 28.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,534 shares of the biopharmaceutical company's stock after selling 2,596 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Alnylam Pharmaceuticals were worth $1,756,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ALNY. IFP Advisors Inc raised its position in Alnylam Pharmaceuticals by 24.2% in the fourth quarter. IFP Advisors Inc now owns 241 shares of the biopharmaceutical company's stock worth $57,000 after acquiring an additional 47 shares during the period. Brighton Jones LLC bought a new position in Alnylam Pharmaceuticals in the fourth quarter worth approximately $243,000. Silvercrest Asset Management Group LLC bought a new position in Alnylam Pharmaceuticals in the fourth quarter worth approximately $1,151,000. Bessemer Group Inc. raised its position in Alnylam Pharmaceuticals by 176.9% in the first quarter. Bessemer Group Inc. now owns 108 shares of the biopharmaceutical company's stock worth $29,000 after acquiring an additional 69 shares during the period. Finally, Blue Trust Inc. raised its position in Alnylam Pharmaceuticals by 33.9% in the first quarter. Blue Trust Inc. now owns 1,158 shares of the biopharmaceutical company's stock worth $313,000 after acquiring an additional 293 shares during the period. Institutional investors own 92.97% of the company's stock.

Insider Activity at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, CEO Yvonne Greenstreet sold 31,640 shares of Alnylam Pharmaceuticals stock in a transaction on Friday, May 30th. The shares were sold at an average price of $304.39, for a total value of $9,630,899.60. Following the completion of the transaction, the chief executive officer directly owned 48,948 shares of the company's stock, valued at $14,899,281.72. This trade represents a 39.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ALNY shares. Stifel Nicolaus increased their price target on shares of Alnylam Pharmaceuticals from $300.00 to $345.00 and gave the stock a "buy" rating in a research report on Monday, March 31st. Wells Fargo & Company increased their price target on shares of Alnylam Pharmaceuticals from $287.00 to $333.00 and gave the stock an "equal weight" rating in a research report on Monday, June 30th. Scotiabank increased their price objective on shares of Alnylam Pharmaceuticals from $338.00 to $342.00 and gave the stock a "sector outperform" rating in a research note on Monday, March 31st. JPMorgan Chase & Co. increased their price objective on shares of Alnylam Pharmaceuticals from $330.00 to $338.00 and gave the stock an "overweight" rating in a research note on Thursday, June 12th. Finally, Canaccord Genuity Group increased their price objective on shares of Alnylam Pharmaceuticals from $385.00 to $390.00 and gave the stock a "buy" rating in a research note on Friday, March 21st. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $340.00.

Alnylam Pharmaceuticals Price Performance

Shares of ALNY stock traded up $2.17 during trading hours on Friday, hitting $331.94. The stock had a trading volume of 431,157 shares, compared to its average volume of 854,662. Alnylam Pharmaceuticals, Inc. has a one year low of $205.87 and a one year high of $333.70. The company has a debt-to-equity ratio of 8.88, a current ratio of 3.04 and a quick ratio of 2.98. The stock's 50-day moving average price is $294.96 and its two-hundred day moving average price is $266.26. The stock has a market capitalization of $43.28 billion, a price-to-earnings ratio of -158.82 and a beta of 0.23.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last issued its earnings results on Thursday, May 1st. The biopharmaceutical company reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.07). Alnylam Pharmaceuticals had a negative return on equity of 510.31% and a negative net margin of 11.49%. The firm 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 firm posted ($0.16) earnings per share. The company's revenue for the quarter was up 20.2% compared to the same quarter last year. Equities analysts forecast that Alnylam Pharmaceuticals, Inc. will post -1.7 EPS for the current year.

Alnylam Pharmaceuticals Company 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.