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

Cannon Global Investment Management LLC acquired a new position in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) in the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 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 investment portfolio, making the stock its 18th biggest holding.

Several other hedge funds and other institutional investors have also bought and sold shares of ALNY. MV Capital Management Inc. bought a new stake in Alnylam Pharmaceuticals during the fourth quarter valued at $25,000. HM Payson & Co. bought a new stake in shares of Alnylam Pharmaceuticals during the 4th quarter valued at about $27,000. Golden State Wealth Management LLC boosted its position 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 valued at $29,000 after purchasing an additional 36 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Alnylam Pharmaceuticals during the third quarter worth approximately $29,000. Finally, Ameriflex Group Inc. bought a new stake in Alnylam Pharmaceuticals in the third quarter worth approximately $32,000. Institutional investors and hedge funds own 92.97% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on ALNY. HC Wainwright reissued a “buy” rating and issued a $510.00 price target on shares of Alnylam Pharmaceuticals in a research note on Thursday, June 4th. Truist Financial lowered their price objective on shares of Alnylam Pharmaceuticals from $515.00 to $505.00 and set a “buy” rating for the company in a research note on Monday, April 13th. 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 research report on Friday, May 1st. Jefferies Financial Group reissued a “hold” rating and set a $330.00 target price (down from $522.00) on shares of Alnylam Pharmaceuticals in a research note on Monday, March 16th. Finally, Citigroup started coverage on shares of Alnylam Pharmaceuticals in a report on Tuesday, May 19th. They issued a “buy” rating and a $380.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $463.13.

Alnylam Pharmaceuticals Price Performance

Shares of NASDAQ ALNY opened at $291.37 on Friday. The stock has a market cap of $38.90 billion, a price-to-earnings ratio of 79.61 and a beta of 0.29. The company has a debt-to-equity ratio of 0.94, a quick ratio of 3.06 and a current ratio of 3.13. Alnylam Pharmaceuticals, Inc. has a fifty-two week low of $273.11 and a fifty-two week high of $495.55. The firm’s 50-day simple moving average is $296.26 and its 200 day simple moving average is $332.07.

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

Insider Buying and Selling at Alnylam Pharmaceuticals

In related news, Director David E. I. Pyott sold 3,830 shares of the firm’s stock in a transaction dated 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 directly owned 1,582 shares of the company’s stock, valued at $473,302.76. This trade represents a 70.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Melissa Mclaughlin sold 2,286 shares of the company’s stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $330.42, for a total transaction of $755,340.12. Following the completion of the sale, the insider directly owned 9,443 shares of the company’s stock, valued at $3,120,156.06. The trade was a 19.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 quarter, insiders sold 7,740 shares of company stock valued at $2,420,214. Company insiders own 0.86% 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.