Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) Short Interest Update

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) was the target of a large drop in short interest in the month of February. As of February 28th, there was short interest totalling 2,490,000 shares, a drop of 22.7% from the February 13th total of 3,220,000 shares. Currently, 2.0% of the company’s stock are sold short. Based on an average daily trading volume, of 676,300 shares, the days-to-cover ratio is currently 3.7 days.

Analyst Ratings Changes

A number of brokerages have weighed in on ALNY. Morgan Stanley raised their price objective on Alnylam Pharmaceuticals from $275.00 to $284.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. HC Wainwright raised their price target on Alnylam Pharmaceuticals from $400.00 to $500.00 and gave the stock a “buy” rating in a report on Monday, February 24th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $310.00 target price on shares of Alnylam Pharmaceuticals in a research note on Wednesday, February 26th. William Blair reissued an “outperform” rating on shares of Alnylam Pharmaceuticals in a research note on Wednesday, February 26th. Finally, Chardan Capital restated a “buy” rating and issued a $300.00 target price on shares of Alnylam Pharmaceuticals in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $304.26.

Insider Activity at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, CMO Pushkal Garg sold 52,592 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $285.00, for a total transaction of $14,988,720.00. Following the completion of the sale, the chief marketing officer now owns 11,989 shares in the company, valued at $3,416,865. This trade represents a 81.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Phillip A. Sharp sold 11,250 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $275.00, for a total value of $3,093,750.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 71,234 shares of company stock worth $19,958,097. 1.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALNY. Jennison Associates LLC bought a new stake in shares of Alnylam Pharmaceuticals in the 4th quarter valued at approximately $61,160,000. Strategic Financial Concepts LLC bought a new stake in shares of Alnylam Pharmaceuticals in the 4th quarter valued at approximately $41,529,000. Truist Financial Corp grew its stake in shares of Alnylam Pharmaceuticals by 136.6% in the 4th quarter. Truist Financial Corp now owns 4,398 shares of the biopharmaceutical company’s stock valued at $1,035,000 after purchasing an additional 2,539 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Alnylam Pharmaceuticals by 3.0% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 286,703 shares of the biopharmaceutical company’s stock valued at $67,464,000 after purchasing an additional 8,462 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in shares of Alnylam Pharmaceuticals by 13.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 19,918 shares of the biopharmaceutical company’s stock valued at $4,687,000 after purchasing an additional 2,285 shares during the period. 92.97% of the stock is currently owned by institutional investors.

Alnylam Pharmaceuticals Price Performance

NASDAQ ALNY opened at $244.30 on Wednesday. Alnylam Pharmaceuticals has a twelve month low of $141.98 and a twelve month high of $304.39. The company has a debt-to-equity ratio of 15.27, a quick ratio of 2.71 and a current ratio of 2.78. The stock has a market capitalization of $31.63 billion, a PE ratio of -112.58 and a beta of 0.39. The stock has a 50-day simple moving average of $255.73 and a 200 day simple moving average of $259.59.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its quarterly earnings results on Thursday, February 13th. The biopharmaceutical company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.62) by ($0.03). Research analysts anticipate that Alnylam Pharmaceuticals will post -1.7 EPS for the current year.

About Alnylam Pharmaceuticals

Alnylam Pharmaceuticals, Inc, a biopharmaceutical company, focuses on discovering, developing, and commercializing novel therapeutics based on ribonucleic acid interference. Its marketed products include ONPATTRO (patisiran) for the treatment of the polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults; AMVUTTRA for the treatment of hATTR amyloidosis with polyneuropathy in adults; GIVLAARI for the treatment of adults with acute hepatic porphyria; and OXLUMO for the treatment of primary hyperoxaluria type 1.