Principal Financial Group Inc. Sells 45,114 Shares of Alnylam Pharmaceuticals, Inc. $ALNY

Principal Financial Group Inc. lowered its position in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) by 89.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,420 shares of the biopharmaceutical company’s stock after selling 45,114 shares during the period. Principal Financial Group Inc.’s holdings in Alnylam Pharmaceuticals were worth $2,472,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Alnylam Pharmaceuticals during the second quarter worth about $662,837,000. Holocene Advisors LP acquired a new stake in Alnylam Pharmaceuticals during the 2nd quarter worth approximately $194,616,000. Orbis Allan Gray Ltd grew its holdings in Alnylam Pharmaceuticals by 29.8% during the 2nd quarter. Orbis Allan Gray Ltd now owns 2,121,412 shares of the biopharmaceutical company’s stock worth $691,771,000 after acquiring an additional 486,489 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in Alnylam Pharmaceuticals in the 3rd quarter valued at approximately $162,577,000. Finally, Vanguard Group Inc. raised its stake in shares of Alnylam Pharmaceuticals by 1.8% during the second 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 last quarter. 92.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Alnylam Pharmaceuticals news, EVP Tolga Tanguler sold 1,510 shares of the 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 29,728 shares in the company, valued at approximately $10,787,399.36. This represents a 4.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jeffrey V. Poulton sold 2,780 shares of the business’s stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $362.87, for a total value of $1,008,778.60. Following the sale, the executive vice president owned 57,465 shares of the company’s stock, valued at approximately $20,852,324.55. This represents a 4.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 19,177 shares of company stock worth $6,975,746 over the last 90 days. 1.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ALNY shares. Jefferies Financial Group decreased their price objective on Alnylam Pharmaceuticals from $550.00 to $549.00 and set a “buy” rating for the company in a report on Thursday, October 30th. HC Wainwright decreased their price target on Alnylam Pharmaceuticals from $570.00 to $510.00 and set a “buy” rating for the company in a research note on Friday, January 30th. Barclays assumed coverage on Alnylam Pharmaceuticals in a research note on Wednesday, January 28th. They issued an “overweight” rating and a $527.00 price objective on the stock. Truist Financial decreased their target price on shares of Alnylam Pharmaceuticals from $535.00 to $530.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Finally, Leerink Partners dropped their price target on shares of Alnylam Pharmaceuticals from $370.00 to $351.00 and set a “market perform” rating on the stock in a research report on Monday, December 15th. Twenty-two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Alnylam Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $477.38.

Alnylam Pharmaceuticals Stock Performance

Shares of ALNY stock opened at $314.40 on Tuesday. The firm has a 50 day moving average of $372.67 and a 200-day moving average of $424.73. The company has a market cap of $41.70 billion, a price-to-earnings ratio of 183.86 and a beta of 0.35. The company has a quick ratio of 2.71, a current ratio of 2.76 and a debt-to-equity ratio of 1.28. Alnylam Pharmaceuticals, Inc. has a 52 week low of $205.87 and a 52 week high of $495.55.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its earnings results on Thursday, February 12th. The biopharmaceutical company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.61). Alnylam Pharmaceuticals had a return on equity of 69.02% and a net margin of 6.43%.The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the company earned ($0.65) earnings per share. The firm’s revenue was up 84.9% compared to the same quarter last year. On average, equities analysts forecast that Alnylam Pharmaceuticals, Inc. will post -1.7 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.