3,111 Shares in Alnylam Pharmaceuticals, Inc. $ALNY Bought by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. acquired a new stake in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 3,111 shares of the biopharmaceutical company’s stock, valued at approximately $937,000.

A number of other large investors also recently modified their holdings of ALNY. Daiwa Securities Group Inc. grew its position in Alnylam Pharmaceuticals by 0.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 12,941 shares of the biopharmaceutical company’s stock worth $4,220,000 after acquiring an additional 35 shares during the last quarter. Golden State Wealth Management LLC increased its holdings in Alnylam Pharmaceuticals by 100.0% in 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. Coldstream Capital Management Inc. raised its position in Alnylam Pharmaceuticals by 2.4% in the third quarter. Coldstream Capital Management Inc. now owns 1,640 shares of the biopharmaceutical company’s stock valued at $748,000 after purchasing an additional 38 shares during the last quarter. Atlantic Union Bankshares Corp raised its position in Alnylam Pharmaceuticals by 20.9% in the fourth quarter. Atlantic Union Bankshares Corp now owns 231 shares of the biopharmaceutical company’s stock valued at $92,000 after purchasing an additional 40 shares during the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC boosted its stake in shares of Alnylam Pharmaceuticals by 3.3% during the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 1,266 shares of the biopharmaceutical company’s stock valued at $577,000 after purchasing an additional 40 shares in the last quarter. 92.97% of the stock is currently owned by institutional investors.

Alnylam Pharmaceuticals Stock Performance

Shares of ALNY opened at $236.22 on Friday. The firm has a market capitalization of $31.61 billion, a P/E ratio of 43.91 and a beta of 0.30. The stock has a 50 day moving average price of $267.02 and a two-hundred day moving average price of $297.32. Alnylam Pharmaceuticals, Inc. has a 52 week low of $197.81 and a 52 week high of $495.55. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.99 and a current ratio of 3.05.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.21. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.32 billion. Alnylam Pharmaceuticals had a net margin of 15.26% and a return on equity of 84.93%. Alnylam Pharmaceuticals’s quarterly revenue was up 66.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.51) EPS. Equities analysts forecast that Alnylam Pharmaceuticals, Inc. will post 6.59 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director David E. I. Pyott sold 3,830 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $299.18, for a total transaction of $1,145,859.40. Following the sale, the director directly owned 1,582 shares in the company, valued at $473,302.76. This represents a 70.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.86% of the stock is owned by insiders.

Analyst Ratings Changes

ALNY has been the topic of several research reports. Royal Bank Of Canada reduced their price target on Alnylam Pharmaceuticals from $445.00 to $350.00 and set an “outperform” rating on the stock in a report on Friday, July 31st. Bank of America dropped their price objective on shares of Alnylam Pharmaceuticals from $460.00 to $410.00 and set a “buy” rating for the company in a report on Tuesday, July 14th. BMO Capital Markets assumed coverage on shares of Alnylam Pharmaceuticals in a report on Wednesday. They set an “outperform” rating and a $318.00 target price on the stock. HC Wainwright decreased their price target on shares of Alnylam Pharmaceuticals from $485.00 to $455.00 and set a “buy” rating for the company in a research report on Friday, July 31st. Finally, Morgan Stanley dropped their price target on shares of Alnylam Pharmaceuticals from $400.00 to $300.00 and set an “equal weight” rating for the company in a research note on Friday, July 31st. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Alnylam Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $386.62.

Alnylam Pharmaceuticals Profile

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.