The Manufacturers Life Insurance Company Cuts Stake in Alnylam Pharmaceuticals, Inc. $ALNY

Key Points

• The Manufacturers Life Insurance Company reduced its stake in Alnylam Pharmaceuticals by 9.4%, now owning approximately 0.08% of the company's stock valued at $26.69 million.
• Several institutional investors have increased their positions in Alnylam, with Driehaus Capital Management boosting their stake by 70.6%, indicating a strong interest in the biopharmaceutical company's potential.
• Alnylam Pharmaceuticals received positive analyst upgrades, with price targets raised to as high as $415, reflecting optimism about its future growth prospects.

The Manufacturers Life Insurance Company lowered its holdings in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report) by 9.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 98,869 shares of the biopharmaceutical company's stock after selling 10,233 shares during the quarter. The Manufacturers Life Insurance Company owned 0.08% of Alnylam Pharmaceuticals worth $26,694,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. SVB Wealth LLC acquired a new stake in shares of Alnylam Pharmaceuticals in the first quarter worth $27,000. Park Square Financial Group LLC acquired a new stake in Alnylam Pharmaceuticals during the fourth quarter valued at $28,000. Whipplewood Advisors LLC grew 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 buying an additional 71 shares during the period. Bessemer Group Inc. grew its position in Alnylam Pharmaceuticals by 176.9% during the first quarter. Bessemer Group Inc. now owns 108 shares of the biopharmaceutical company's stock valued at $29,000 after buying an additional 69 shares during the period. Finally, Colonial Trust Co SC acquired a new stake in Alnylam Pharmaceuticals during the fourth quarter valued at $35,000. Institutional investors and hedge funds own 92.97% of the company's stock.

Insider Activity at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, EVP Jeffrey V. Poulton sold 2,274 shares of Alnylam Pharmaceuticals stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $453.27, for a total transaction of $1,030,735.98. Following the transaction, the executive vice president directly owned 50,121 shares of the company's stock, valued at $22,718,345.67. The trade was a 4.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael W. Bonney sold 11,250 shares of Alnylam Pharmaceuticals stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $450.00, for a total transaction of $5,062,500.00. Following the transaction, the director directly owned 16,804 shares in the company, valued at $7,561,800. This trade represents a 40.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 57,594 shares of company stock valued at $25,551,456 over the last ninety days. Corporate insiders own 1.50% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on ALNY shares. JPMorgan Chase & Co. increased their price objective on shares of Alnylam Pharmaceuticals from $348.00 to $475.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. Scotiabank increased 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. Oppenheimer raised shares of Alnylam Pharmaceuticals from a "market perform" rating to an "outperform" rating and set a $490.00 price objective on the stock in a report on Monday, August 4th. Canaccord Genuity Group increased their price objective on shares of Alnylam Pharmaceuticals from $390.00 to $415.00 and gave the company a "buy" rating in a report on Friday, August 1st. Finally, HC Wainwright reaffirmed a "buy" rating and set a $570.00 price objective on shares of Alnylam Pharmaceuticals in a report on Tuesday. Twenty-two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Alnylam Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average target price of $417.38.

Alnylam Pharmaceuticals Price Performance

Shares of NASDAQ:ALNY traded down $1.54 during midday trading on Friday, hitting $452.00. The company's stock had a trading volume of 751,495 shares, compared to its average volume of 1,065,318. The business's 50 day simple moving average is $387.47 and its 200 day simple moving average is $309.30. The company has a debt-to-equity ratio of 4.10, a quick ratio of 2.75 and a current ratio of 2.80. The company has a market cap of $59.25 billion, a P/E ratio of -183.00 and a beta of 0.32. Alnylam Pharmaceuticals, Inc. has a 12-month low of $205.87 and a 12-month high of $469.81.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last posted 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. The firm had revenue of $773.69 million for the quarter, compared to the consensus estimate of $633.54 million. Alnylam Pharmaceuticals had a negative net margin of 12.96% and a negative return on equity of 273.52%. The company's revenue for the quarter was up 17.3% on a year-over-year basis. During the same period last year, the firm posted ($0.13) earnings per share. Alnylam Pharmaceuticals has set its FY 2025 guidance at EPS. On average, 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.