Assenagon Asset Management S.A. Boosts Stock Holdings in Alnylam Pharmaceuticals, Inc. $ALNY

Assenagon Asset Management S.A. raised its position in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) by 403.7% in the 1st quarter, Holdings Channel.com reports. The firm owned 128,896 shares of the biopharmaceutical company’s stock after acquiring an additional 103,306 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Alnylam Pharmaceuticals were worth $42,648,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC purchased a new position in shares of Alnylam Pharmaceuticals during the 4th quarter valued at $243,000. Geneos Wealth Management Inc. increased its holdings in Alnylam Pharmaceuticals by 372.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 222 shares of the biopharmaceutical company’s stock worth $60,000 after acquiring an additional 175 shares during the last quarter. Flow Traders U.S. LLC bought a new stake in Alnylam Pharmaceuticals in the 2nd quarter valued at about $241,000. Daiwa Securities Group Inc. raised its stake in Alnylam Pharmaceuticals by 0.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 12,941 shares of the biopharmaceutical company’s stock valued at $4,220,000 after acquiring an additional 35 shares during the period. Finally, NewEdge Advisors LLC lifted its holdings in Alnylam Pharmaceuticals by 70,300.0% during the second quarter. NewEdge Advisors LLC now owns 704 shares of the biopharmaceutical company’s stock valued at $229,000 after purchasing an additional 703 shares during the last quarter. 92.97% of the stock is currently owned by institutional investors.

Alnylam Pharmaceuticals Price Performance

ALNY stock opened at $293.17 on Friday. The firm has a 50 day moving average of $297.10 and a 200-day moving average of $332.36. The firm has a market capitalization of $39.14 billion, a P/E ratio of 80.10 and a beta of 0.29. Alnylam Pharmaceuticals, Inc. has a 12 month low of $273.11 and a 12 month high of $495.55. The company has a current ratio of 3.13, a quick ratio of 3.06 and a debt-to-equity ratio of 0.94.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. HC Wainwright reiterated a “buy” rating and issued a $510.00 target price on shares of Alnylam Pharmaceuticals in a research note on Thursday, June 4th. 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. Jefferies Financial Group reaffirmed a “hold” rating and issued a $330.00 price objective (down from $522.00) on shares of Alnylam Pharmaceuticals in a report on Monday, March 16th. Wells Fargo & Company boosted their target price on shares of Alnylam Pharmaceuticals from $376.00 to $377.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. Finally, Truist Financial dropped their target price on Alnylam Pharmaceuticals from $515.00 to $505.00 and set a “buy” rating on the stock in a research report on Monday, April 13th. Two investment 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 company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $463.13.

Insider Buying and Selling at Alnylam Pharmaceuticals

In other news, Director David E. I. Pyott sold 3,830 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $299.18, for a total value of $1,145,859.40. Following the transaction, the director owned 1,582 shares of the company’s stock, valued at approximately $473,302.76. This represents a 70.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 Alnylam Pharmaceuticals stock in a transaction on Monday, April 6th. The shares were sold at an average price of $330.42, for a total value of $755,340.12. Following the sale, the insider directly owned 9,443 shares of the company’s stock, valued at $3,120,156.06. This represents a 19.49% decrease in their position. 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. In the last ninety days, insiders sold 7,740 shares of company stock worth $2,420,214. Insiders own 0.86% of the company’s stock.

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.