Wealthfront Advisers LLC Sells 6,667 Shares of Alnylam Pharmaceuticals, Inc. $ALNY

Key Points

• Wealthfront Advisers LLC reduced its stake in Alnylam Pharmaceuticals by 36.5% in the first quarter, selling 6,667 shares and ending with 11,587 shares valued at about $3.83 million.
• Alnylam continues to attract significant institutional ownership, with several funds adjusting positions and institutions collectively holding 92.97% of the stock.
• Recent analyst sentiment remains mostly positive: the stock has a consensus “Moderate Buy” rating with an average price target of $455.31, even as one director also sold shares under a pre-arranged trading plan.

Wealthfront Advisers LLC lessened its stake in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report) by 36.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,587 shares of the biopharmaceutical company's stock after selling 6,667 shares during the quarter. Wealthfront Advisers LLC's holdings in Alnylam Pharmaceuticals were worth $3,834,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Brighton Jones LLC purchased a new stake in Alnylam Pharmaceuticals in the 4th quarter worth $243,000. Geneos Wealth Management Inc. grew its position in shares of Alnylam Pharmaceuticals by 372.3% during the first quarter. Geneos Wealth Management Inc. now owns 222 shares of the biopharmaceutical company's stock valued at $60,000 after purchasing an additional 175 shares in the last quarter. Flow Traders U.S. LLC bought a new stake in shares of Alnylam Pharmaceuticals in the second quarter worth about $241,000. Daiwa Securities Group Inc. lifted its position in shares of Alnylam Pharmaceuticals by 0.3% in the second quarter. Daiwa Securities Group Inc. now owns 12,941 shares of the biopharmaceutical company's stock worth $4,220,000 after buying an additional 35 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its position in shares of Alnylam Pharmaceuticals by 70,300.0% in the second quarter. NewEdge Advisors LLC now owns 704 shares of the biopharmaceutical company's stock worth $229,000 after buying an additional 703 shares in the last quarter. Institutional investors own 92.97% of the company's stock.

Wall Street Analyst Weigh In

ALNY has been the subject of several research analyst reports. Weiss Ratings upgraded Alnylam Pharmaceuticals from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, May 4th. HC Wainwright increased their target price on Alnylam Pharmaceuticals from $470.00 to $485.00 and gave the company a "buy" rating in a research report on Monday, July 13th. Wells Fargo & Company raised their target price on shares of Alnylam Pharmaceuticals from $376.00 to $377.00 and gave the company an "equal weight" rating in a report on Friday, May 1st. Truist Financial reduced their price target on shares of Alnylam Pharmaceuticals from $505.00 to $410.00 and set a "buy" rating on the stock in a research report on Monday, July 13th. Finally, Chardan Capital reaffirmed a "buy" rating and set a $425.00 price target on shares of Alnylam Pharmaceuticals in a research note on Wednesday, March 25th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Alnylam Pharmaceuticals has an average rating of "Moderate Buy" and a consensus price target of $455.31.

Insider Activity

In other news, Director David E. I. Pyott sold 3,830 shares of the firm's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $299.18, for a total value of $1,145,859.40. Following the completion of the sale, the director owned 1,582 shares in the company, valued at approximately $473,302.76. This trade represents a 70.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.86% of the company's stock.

Alnylam Pharmaceuticals Price Performance

Shares of Alnylam Pharmaceuticals stock opened at $267.47 on Monday. The stock has a market cap of $35.71 billion, a price-to-earnings ratio of 73.08 and a beta of 0.27. The company has a debt-to-equity ratio of 0.94, a quick ratio of 3.06 and a current ratio of 3.13. The stock has a 50 day moving average price of $294.16 and a 200-day moving average price of $320.56. Alnylam Pharmaceuticals, Inc. has a one year low of $266.43 and a one year high of $495.55.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $0.87 by $1.12. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.12 billion. Alnylam Pharmaceuticals had a return on equity of 85.76% and a net margin of 11.72%.Alnylam Pharmaceuticals's quarterly revenue was up 96.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.44) EPS. Equities analysts expect that Alnylam Pharmaceuticals, Inc. will post 7.26 EPS 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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