ProShare Advisors LLC Increases Holdings in Alnylam Pharmaceuticals, Inc. $ALNY

Key Points

• ProShare Advisors LLC boosted its Alnylam Pharmaceuticals stake by 4,457.9% in the fourth quarter, ending with 211,077 shares valued at about $83.9 million.
• Institutional ownership remains very high, with hedge funds and other institutions holding 92.97% of Alnylam’s stock. Several large investors, including Vanguard and Capital Research Global Investors, also increased their positions.
• Alnylam reported strong quarterly results, posting earnings of $1.99 per share versus $0.87 expected and revenue of $1.17 billion, up 96.4% year over year. Analysts largely remain positive, with a consensus Moderate Buy rating and a target price of $463.13.

ProShare Advisors LLC increased its stake in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report) by 4,457.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 211,077 shares of the biopharmaceutical company's stock after buying an additional 206,446 shares during the quarter. ProShare Advisors LLC owned about 0.16% of Alnylam Pharmaceuticals worth $83,935,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Alnylam Pharmaceuticals by 2.0% in the third quarter. Vanguard Group Inc. now owns 13,565,452 shares of the biopharmaceutical company's stock valued at $6,185,846,000 after purchasing an additional 268,313 shares during the period. Capital Research Global Investors raised its position in Alnylam Pharmaceuticals by 0.4% in the third quarter. Capital Research Global Investors now owns 7,222,840 shares of the biopharmaceutical company's stock valued at $3,293,516,000 after purchasing an additional 31,184 shares during the period. Groupama Asset Managment raised its position in Alnylam Pharmaceuticals by 160.4% in the third quarter. Groupama Asset Managment now owns 4,032,082 shares of the biopharmaceutical company's stock valued at $18,610,000 after purchasing an additional 2,483,697 shares during the period. Orbis Allan Gray Ltd raised its position in Alnylam Pharmaceuticals by 29.8% in 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 purchasing an additional 486,489 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its position in Alnylam Pharmaceuticals by 698.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,355,609 shares of the biopharmaceutical company's stock valued at $618,158,000 after purchasing an additional 1,185,909 shares during the period. Hedge funds and other institutional investors own 92.97% of the company's stock.

Insiders Place Their Bets

In other news, insider Melissa Mclaughlin sold 2,286 shares of Alnylam Pharmaceuticals stock in a transaction on Monday, April 6th. The stock was sold at an average price of $330.42, for a total value of $755,340.12. Following the completion of the sale, the insider directly owned 9,443 shares of the company's stock, valued at approximately $3,120,156.06. The trade was a 19.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Pushkal Garg sold 1,775 shares of Alnylam Pharmaceuticals stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $319.74, for a total value of $567,538.50. Following the completion of the sale, the executive vice president directly owned 23,406 shares of the company's stock, valued at $7,483,834.44. The trade was a 7.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 21,255 shares of company stock valued at $6,930,337. Insiders own 0.86% of the company's stock.

Analyst Upgrades and Downgrades

ALNY has been the topic of a number of research analyst reports. HC Wainwright restated a "buy" rating and issued a $510.00 target price on shares of Alnylam Pharmaceuticals in a research report on Tuesday, May 5th. Barclays initiated coverage on Alnylam Pharmaceuticals in a research report on Wednesday, January 28th. They issued an "overweight" rating and a $527.00 target price on the stock. Needham & Company LLC reduced their target price on Alnylam Pharmaceuticals from $529.00 to $510.00 and set a "buy" rating on the stock in a research report on Thursday, February 12th. Freedom Capital upgraded Alnylam Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 17th. Finally, Bank of America restated a "buy" rating on shares of Alnylam Pharmaceuticals in a research report on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $463.13.

Alnylam Pharmaceuticals Trading Up 2.8%

Shares of NASDAQ ALNY opened at $294.30 on Wednesday. Alnylam Pharmaceuticals, Inc. has a twelve month low of $284.19 and a twelve month high of $495.55. The company has a current ratio of 3.13, a quick ratio of 3.06 and a debt-to-equity ratio of 0.94. The stock has a fifty day simple moving average of $312.56 and a 200-day simple moving average of $362.08. The stock has a market capitalization of $39.29 billion, a PE ratio of 80.41 and a beta of 0.31.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The biopharmaceutical company reported $1.99 earnings per share for the quarter, beating analysts' consensus estimates of $0.87 by $1.12. Alnylam Pharmaceuticals had a return on equity of 85.76% and a net margin of 11.72%.The business had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.12 billion. During the same period in the previous year, the firm posted ($0.44) earnings per share. The company's revenue was up 96.4% on a year-over-year basis. On average, equities analysts forecast that Alnylam Pharmaceuticals, Inc. will post 7.36 earnings per share for the current year.

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.

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