Cannon Global Investment Management LLC Invests $794,000 in Alnylam Pharmaceuticals, Inc. $ALNY

Cannon Global Investment Management LLC purchased a new stake in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,400 shares of the biopharmaceutical company’s stock, valued at approximately $794,000. Alnylam Pharmaceuticals makes up 1.6% of Cannon Global Investment Management LLC’s holdings, making the stock its 18th largest position.

Several other institutional investors have also made changes to their positions in the stock. MV Capital Management Inc. acquired a new position in Alnylam Pharmaceuticals in the 4th quarter valued at $25,000. HM Payson & Co. bought a new stake in shares of Alnylam Pharmaceuticals during the 4th quarter valued at $27,000. Golden State Wealth Management LLC grew its holdings in shares of Alnylam Pharmaceuticals by 100.0% during the 4th quarter. Golden State Wealth Management LLC now owns 72 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 36 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Alnylam Pharmaceuticals during the 3rd quarter worth $29,000. Finally, Ameriflex Group Inc. bought a new position in shares of Alnylam Pharmaceuticals in the third quarter worth $32,000. 92.97% of the stock is currently owned by institutional investors.

Insider Activity at Alnylam Pharmaceuticals

In other news, Director David E. I. Pyott sold 3,830 shares of Alnylam Pharmaceuticals stock in a transaction on Monday, June 1st. The shares were sold at an average price of $299.18, for a total transaction of $1,145,859.40. Following the transaction, the director owned 1,582 shares in the company, valued at approximately $473,302.76. The trade was a 70.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Melissa Mclaughlin sold 2,286 shares of the firm’s stock in a transaction on Monday, April 6th. The stock was sold at an average price of $330.42, for a total value of $755,340.12. Following the transaction, the insider directly owned 9,443 shares of the company’s stock, valued at approximately $3,120,156.06. This represents a 19.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 7,740 shares of company stock worth $2,420,214. 0.86% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ALNY has been the topic of a number of analyst reports. Weiss Ratings upgraded shares of Alnylam Pharmaceuticals from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, May 4th. Wall Street Zen downgraded shares of Alnylam Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 21st. 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. Wells Fargo & Company upped their target price on Alnylam Pharmaceuticals from $376.00 to $377.00 and gave the stock an “equal weight” rating in a research note on Friday, May 1st. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $330.00 price target (down from $522.00) on shares of Alnylam Pharmaceuticals in a research note on Monday, March 16th. Two equities 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $463.13.

Alnylam Pharmaceuticals Trading Down 0.6%

NASDAQ ALNY opened at $291.37 on Friday. The company has a quick ratio of 3.06, a current ratio of 3.13 and a debt-to-equity ratio of 0.94. Alnylam Pharmaceuticals, Inc. has a twelve month low of $273.11 and a twelve month high of $495.55. The company has a market cap of $38.90 billion, a price-to-earnings ratio of 79.61 and a beta of 0.29. The business’s fifty day moving average is $296.26 and its 200 day moving average is $332.07.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $1.12. The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Alnylam Pharmaceuticals had a return on equity of 85.76% and a net margin of 11.72%.The business’s revenue for the quarter was up 96.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.44) EPS. As a group, sell-side analysts expect that Alnylam Pharmaceuticals, Inc. will post 7.47 EPS for the current fiscal 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.