DAVENPORT & Co LLC Invests $699,000 in Alnylam Pharmaceuticals, Inc. $ALNY

DAVENPORT & Co LLC bought a new stake in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 1,759 shares of the biopharmaceutical company’s stock, valued at approximately $699,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of ALNY. Vanguard Group Inc. boosted its stake in Alnylam Pharmaceuticals by 2.0% during the third quarter. Vanguard Group Inc. now owns 13,565,452 shares of the biopharmaceutical company’s stock worth $6,185,846,000 after buying an additional 268,313 shares during the period. Capital Research Global Investors increased its position in Alnylam Pharmaceuticals by 0.4% during the third quarter. Capital Research Global Investors now owns 7,222,840 shares of the biopharmaceutical company’s stock valued at $3,293,516,000 after acquiring an additional 31,184 shares during the last quarter. Groupama Asset Managment raised its stake in shares of Alnylam Pharmaceuticals by 160.4% in the third quarter. Groupama Asset Managment now owns 4,032,082 shares of the biopharmaceutical company’s stock valued at $18,610,000 after acquiring an additional 2,483,697 shares during the period. Orbis Allan Gray Ltd raised its stake in shares of Alnylam Pharmaceuticals by 29.8% in 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 acquiring an additional 486,489 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Alnylam Pharmaceuticals by 698.8% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,355,609 shares of the biopharmaceutical company’s stock worth $618,158,000 after acquiring an additional 1,185,909 shares during the last quarter. Hedge funds and other institutional investors own 92.97% of the company’s stock.

Wall Street Analysts Forecast Growth

ALNY has been the topic of several analyst reports. Truist Financial cut their price target on shares of Alnylam Pharmaceuticals from $535.00 to $530.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. Chardan Capital reissued a “buy” rating and issued a $425.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Wednesday, March 25th. Morgan Stanley dropped their target price on Alnylam Pharmaceuticals from $495.00 to $408.00 and set an “equal weight” rating for the company in a research report on Friday, January 30th. Royal Bank Of Canada cut their target price on Alnylam Pharmaceuticals from $500.00 to $465.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 20th. Finally, Needham & Company LLC reduced their price target on Alnylam Pharmaceuticals from $529.00 to $510.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Alnylam Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $473.87.

Alnylam Pharmaceuticals Trading Down 0.4%

ALNY stock opened at $316.09 on Tuesday. Alnylam Pharmaceuticals, Inc. has a 12 month low of $205.87 and a 12 month high of $495.55. The firm’s 50-day moving average is $329.81 and its 200 day moving average is $398.61. The company has a market capitalization of $41.92 billion, a PE ratio of 184.85 and a beta of 0.36. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.76 and a quick ratio of 2.71.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its quarterly earnings data on Thursday, February 12th. The biopharmaceutical company reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.18). The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Alnylam Pharmaceuticals had a net margin of 6.43% and a return on equity of 69.02%. Alnylam Pharmaceuticals’s quarterly revenue was up 84.9% on a year-over-year basis. During the same period last year, the firm earned ($0.65) earnings per share. On average, research analysts anticipate that Alnylam Pharmaceuticals, Inc. will post -1.7 EPS for the current year.

Insider Transactions at Alnylam Pharmaceuticals

In related news, EVP Tolga Tanguler sold 1,598 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $327.65, for a total value of $523,584.70. Following the transaction, the executive vice president owned 36,606 shares of the company’s stock, valued at $11,993,955.90. This represents a 4.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kevin Joseph Fitzgerald sold 1,652 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $319.73, for a total value of $528,193.96. Following the transaction, the executive vice president owned 21,860 shares in the company, valued at $6,989,297.80. The trade was a 7.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 53,923 shares of company stock valued at $18,072,087 in the last ninety days. Corporate insiders own 1.20% of the company’s stock.

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.