Jennison Associates LLC Has $139.02 Million Stock Position in Alnylam Pharmaceuticals, Inc. $ALNY

Jennison Associates LLC reduced its stake in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) by 12.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 304,863 shares of the biopharmaceutical company’s stock after selling 45,207 shares during the period. Jennison Associates LLC owned approximately 0.23% of Alnylam Pharmaceuticals worth $139,018,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Envestnet Portfolio Solutions Inc. grew its position in Alnylam Pharmaceuticals by 14.0% in the third quarter. Envestnet Portfolio Solutions Inc. now owns 1,327 shares of the biopharmaceutical company’s stock valued at $605,000 after acquiring an additional 163 shares during the period. Grandfield & Dodd LLC boosted its stake in shares of Alnylam Pharmaceuticals by 2.2% in the 3rd quarter. Grandfield & Dodd LLC now owns 3,120 shares of the biopharmaceutical company’s stock valued at $1,423,000 after purchasing an additional 68 shares in the last quarter. iA Global Asset Management Inc. acquired a new stake in shares of Alnylam Pharmaceuticals in the 3rd quarter valued at $751,000. Rakuten Investment Management Inc. bought a new stake in shares of Alnylam Pharmaceuticals in the 3rd quarter worth about $14,205,000. Finally, Chicago Partners Investment Group LLC acquired a new stake in shares of Alnylam Pharmaceuticals during the 3rd quarter worth about $463,000. Institutional investors own 92.97% of the company’s stock.

Insider Activity at Alnylam Pharmaceuticals

In other news, EVP Kevin Joseph Fitzgerald sold 12,128 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $452.18, for a total value of $5,484,039.04. Following the transaction, the executive vice president owned 21,264 shares of the company’s stock, valued at approximately $9,615,155.52. This trade 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 hyperlink. Also, CEO Yvonne Greenstreet sold 15,650 shares of Alnylam Pharmaceuticals stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $453.69, for a total transaction of $7,100,248.50. Following the sale, the chief executive officer owned 65,409 shares of the company’s stock, valued at approximately $29,675,409.21. This represents a 19.31% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 56,955 shares of company stock worth $24,072,733. Insiders own 1.50% of the company’s stock.

Alnylam Pharmaceuticals Trading Down 3.2%

Shares of ALNY opened at $357.98 on Friday. The stock’s fifty day simple moving average is $409.91 and its 200-day simple moving average is $422.52. The firm has a market capitalization of $47.29 billion, a PE ratio of 1,491.58 and a beta of 0.32. Alnylam Pharmaceuticals, Inc. has a 12-month low of $205.87 and a 12-month high of $495.55. The company has a quick ratio of 2.49, a current ratio of 2.54 and a debt-to-equity ratio of 4.45.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ALNY. Morgan Stanley upped their price objective on shares of Alnylam Pharmaceuticals from $405.00 to $475.00 and gave the stock an “equal weight” rating in a research note on Monday, October 6th. Leerink Partners dropped their price target on Alnylam Pharmaceuticals from $370.00 to $351.00 and set a “market perform” rating for the company in a report on Monday, December 15th. Wall Street Zen raised Alnylam Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Monday, November 10th. Weiss Ratings upgraded Alnylam Pharmaceuticals from a “sell (d-)” rating to a “hold (c-)” rating in a report on Thursday, January 15th. Finally, Truist Financial cut their price target on Alnylam Pharmaceuticals from $535.00 to $530.00 and set a “buy” rating for the company in a report on Thursday, January 8th. Twenty-two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Alnylam Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $485.21.

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.