Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) Short Interest Update

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) was the recipient of a large growth in short interest in the month of December. As of December 31st, there was short interest totaling 5,532,159 shares, a growth of 32.2% from the December 15th total of 4,184,652 shares. Currently, 4.2% of the shares of the company are sold short. Based on an average trading volume of 1,911,674 shares, the days-to-cover ratio is currently 2.9 days. Based on an average trading volume of 1,911,674 shares, the days-to-cover ratio is currently 2.9 days. Currently, 4.2% of the shares of the company are sold short.

Insider Activity

In related news, EVP Kevin Joseph Fitzgerald sold 12,128 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $452.18, for a total transaction of $5,484,039.04. Following the completion of the sale, the executive vice president owned 21,264 shares in the company, valued at $9,615,155.52. This represents a 36.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Pushkal Garg sold 1,510 shares of the company’s stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $362.87, for a total value of $547,933.70. Following the transaction, the executive vice president owned 22,511 shares of the company’s stock, valued at approximately $8,168,566.57. This trade represents a 6.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 56,955 shares of company stock worth $24,072,733. Insiders own 1.50% of the company’s stock.

Institutional Trading of Alnylam Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in ALNY. OFI Invest Asset Management raised its stake in shares of Alnylam Pharmaceuticals by 5.8% in the third quarter. OFI Invest Asset Management now owns 403 shares of the biopharmaceutical company’s stock worth $184,000 after acquiring an additional 22 shares during the last quarter. Howard Capital Management Inc. lifted its holdings in Alnylam Pharmaceuticals by 2.9% during the 3rd quarter. Howard Capital Management Inc. now owns 854 shares of the biopharmaceutical company’s stock worth $389,000 after buying an additional 24 shares in the last quarter. Frank Rimerman Advisors LLC boosted its position in Alnylam Pharmaceuticals by 2.0% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 1,251 shares of the biopharmaceutical company’s stock valued at $570,000 after buying an additional 24 shares during the last quarter. Coastal Bridge Advisors LLC boosted its position in Alnylam Pharmaceuticals by 2.3% in the 3rd quarter. Coastal Bridge Advisors LLC now owns 1,097 shares of the biopharmaceutical company’s stock valued at $500,000 after buying an additional 25 shares during the last quarter. Finally, Meridian Financial Advisors LLC lifted its stake in shares of Alnylam Pharmaceuticals by 3.5% during the third quarter. Meridian Financial Advisors LLC now owns 828 shares of the biopharmaceutical company’s stock valued at $378,000 after acquiring an additional 28 shares during the period. 92.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ALNY shares. Piper Sandler reissued an “overweight” rating and issued a $489.00 price target (up from $449.00) on shares of Alnylam Pharmaceuticals in a report on Friday, October 31st. Weiss Ratings raised Alnylam Pharmaceuticals from a “sell (d-)” rating to a “hold (c-)” rating in a report on Thursday. Wells Fargo & Company raised their price objective on Alnylam Pharmaceuticals from $395.00 to $479.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 11th. Stifel Nicolaus raised their target price on Alnylam Pharmaceuticals from $495.00 to $508.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Finally, Morgan Stanley boosted their price target on shares of Alnylam Pharmaceuticals from $405.00 to $475.00 and gave the company an “equal weight” rating in a report on Monday, October 6th. Twenty-two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $490.96.

Alnylam Pharmaceuticals Trading Up 0.0%

Shares of ALNY stock opened at $359.27 on Friday. Alnylam Pharmaceuticals has a 12-month low of $205.87 and a 12-month high of $495.55. The firm has a 50-day moving average price of $418.74 and a 200 day moving average price of $422.05. The company has a quick ratio of 2.49, a current ratio of 2.54 and a debt-to-equity ratio of 4.45. The company has a market capitalization of $47.46 billion, a P/E ratio of 1,496.96 and a beta of 0.32.

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.