Northern Trust Corp Lowers Stake in Alnylam Pharmaceuticals, Inc. $ALNY

Key Points

• Northern Trust Corp reduced its stake in Alnylam Pharmaceuticals by 1.6% during the first quarter, resulting in ownership of approximately 865,020 shares valued at $233,573,000.
• Insiders, including Director Michael W. Bonney and CEO Yvonne Greenstreet, have sold significant amounts of stock, indicating a potential decrease in confidence, with Bonney's sale representing a 40.10% reduction in his position.
• Several brokerages have raised target prices for Alnylam shares, with Wells Fargo increasing its target from $333.00 to $395.00, showing positive market sentiment towards the company.

Northern Trust Corp cut its holdings in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report) by 1.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 865,020 shares of the biopharmaceutical company's stock after selling 13,840 shares during the quarter. Northern Trust Corp owned approximately 0.66% of Alnylam Pharmaceuticals worth $233,573,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Bessemer Group Inc. lifted its stake 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. Crossmark Global Holdings Inc. bought a new position in Alnylam Pharmaceuticals in the first quarter worth about $275,000. GAMMA Investing LLC raised its holdings in Alnylam Pharmaceuticals by 14.3% in the first quarter. GAMMA Investing LLC now owns 616 shares of the biopharmaceutical company's stock worth $166,000 after purchasing an additional 77 shares in the last quarter. Brighton Jones LLC bought a new position in Alnylam Pharmaceuticals in the fourth quarter worth about $243,000. Finally, Silvercrest Asset Management Group LLC bought a new position in Alnylam Pharmaceuticals in the fourth quarter worth about $1,151,000. 92.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Michael W. Bonney sold 11,250 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $450.00, for a total value of $5,062,500.00. Following the transaction, the director owned 16,804 shares in the company, valued at approximately $7,561,800. This represents a 40.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Yvonne Greenstreet sold 31,640 shares of the stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $304.39, for a total transaction of $9,630,899.60. Following the completion of the transaction, the chief executive officer owned 48,948 shares in the company, valued at approximately $14,899,281.72. This trade represents a 39.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 108,531 shares of company stock worth $41,087,238 in the last quarter. 1.50% of the stock is currently owned by corporate insiders.

Alnylam Pharmaceuticals Price Performance

Shares of NASDAQ:ALNY opened at $467.55 on Friday. Alnylam Pharmaceuticals, Inc. has a twelve month low of $205.87 and a twelve month high of $467.71. The company's 50 day moving average is $357.72 and its 200 day moving average is $295.44. The company has a current ratio of 2.80, a quick ratio of 2.75 and a debt-to-equity ratio of 4.10. The company has a market cap of $61.29 billion, a PE ratio of -189.29 and a beta of 0.25.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $0.32 earnings per share for the quarter, topping the consensus estimate of ($0.54) by $0.86. Alnylam Pharmaceuticals had a negative net margin of 12.96% and a negative return on equity of 273.52%. The company had revenue of $773,689 billion for the quarter, compared to the consensus estimate of $633.54 million. During the same quarter in the prior year, the company earned ($0.13) EPS. Alnylam Pharmaceuticals's quarterly revenue was up 17.3% on a year-over-year basis. Alnylam Pharmaceuticals has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Alnylam Pharmaceuticals, Inc. will post -1.7 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ALNY. Wells Fargo & Company boosted their target price on shares of Alnylam Pharmaceuticals from $333.00 to $395.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. Scotiabank upped their price objective on shares of Alnylam Pharmaceuticals from $342.00 to $450.00 and gave the company a "sector outperform" rating in a report on Friday, August 1st. Truist Financial initiated coverage on shares of Alnylam Pharmaceuticals in a report on Monday, July 21st. They set a "buy" rating and a $385.00 price objective on the stock. Raymond James Financial initiated coverage on shares of Alnylam Pharmaceuticals in a report on Wednesday, July 30th. They set an "outperform" rating and a $370.00 price objective on the stock. Finally, Barclays upped their price objective on shares of Alnylam Pharmaceuticals from $329.00 to $460.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Twenty-two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Alnylam Pharmaceuticals has a consensus rating of "Moderate Buy" and an average price target of $405.33.

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.

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