Allspring Global Investments Holdings LLC Lowers Holdings in Alnylam Pharmaceuticals, Inc. $ALNY

Allspring Global Investments Holdings LLC cut its position in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) by 0.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 310,804 shares of the biopharmaceutical company’s stock after selling 1,412 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Alnylam Pharmaceuticals were worth $143,172,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Alnylam Pharmaceuticals by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 13,297,139 shares of the biopharmaceutical company’s stock valued at $4,336,064,000 after acquiring an additional 240,534 shares during the period. Geode Capital Management LLC lifted its stake in shares of Alnylam Pharmaceuticals by 3.3% in the 2nd quarter. Geode Capital Management LLC now owns 2,398,770 shares of the biopharmaceutical company’s stock worth $779,857,000 after purchasing an additional 75,936 shares during the period. Orbis Allan Gray Ltd grew its position in Alnylam Pharmaceuticals by 29.8% during 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 buying an additional 486,489 shares during the period. Norges Bank purchased a new position in shares of Alnylam Pharmaceuticals during the 2nd quarter worth $662,837,000. Finally, American Century Companies Inc. grew its position in shares of Alnylam Pharmaceuticals by 1.9% during the 2nd quarter. American Century Companies Inc. now owns 1,793,846 shares of the biopharmaceutical company’s stock valued at $584,957,000 after acquiring an additional 33,411 shares during the period. 92.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Piper Sandler reiterated an “overweight” rating and set a $489.00 price objective (up from $449.00) on shares of Alnylam Pharmaceuticals in a research note on Friday, October 31st. Evercore ISI upped their price objective on Alnylam Pharmaceuticals from $280.00 to $515.05 and gave the stock an “outperform” rating in a report on Thursday, September 11th. Truist Financial lifted their price objective on shares of Alnylam Pharmaceuticals from $459.00 to $535.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. Jefferies Financial Group lowered their target price on shares of Alnylam Pharmaceuticals from $550.00 to $549.00 and set a “buy” rating for the company in a report on Thursday, October 30th. Finally, Bank of America boosted their price objective on shares of Alnylam Pharmaceuticals from $453.00 to $520.00 and gave the company a “buy” rating in a research report on Wednesday, September 17th. Twenty-three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $477.44.

Alnylam Pharmaceuticals Trading Down 0.4%

Alnylam Pharmaceuticals stock opened at $397.25 on Wednesday. The firm has a market cap of $52.48 billion, a PE ratio of 1,655.21 and a beta of 0.30. Alnylam Pharmaceuticals, Inc. has a 12 month low of $205.87 and a 12 month high of $495.55. The stock’s 50 day simple moving average is $436.00 and its two-hundred day simple moving average is $416.25. The company has a current ratio of 2.54, a quick ratio of 2.49 and a debt-to-equity ratio of 4.45.

Insider Activity at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, EVP Jeffrey V. Poulton sold 3,821 shares of Alnylam Pharmaceuticals stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $452.05, for a total value of $1,727,283.05. Following the completion of the transaction, the executive vice president owned 54,052 shares of the company’s stock, valued at approximately $24,434,206.60. The trade was a 6.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Yvonne Greenstreet sold 10,000 shares of the stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $451.27, for a total transaction of $4,512,700.00. Following the sale, the chief executive officer directly owned 65,409 shares in the company, valued at approximately $29,517,119.43. The trade was a 13.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 60,328 shares of company stock valued at $27,288,993 in the last quarter. 1.20% of the stock is currently owned by insiders.

Alnylam Pharmaceuticals Profile

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.