Avidity Partners Management LP Invests $8.35 Million in Alnylam Pharmaceuticals, Inc. $ALNY

Avidity Partners Management LP purchased a new position in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 21,000 shares of the biopharmaceutical company’s stock, valued at approximately $8,351,000. Alnylam Pharmaceuticals makes up approximately 2.4% of Avidity Partners Management LP’s holdings, making the stock its 9th biggest position.

Other hedge funds have also made changes to their positions in the company. iA Global Asset Management Inc. grew its position in shares of Alnylam Pharmaceuticals by 979.5% during the fourth quarter. iA Global Asset Management Inc. now owns 17,780 shares of the biopharmaceutical company’s stock worth $7,070,000 after buying an additional 16,133 shares in the last quarter. Perpetual Ltd acquired a new position in Alnylam Pharmaceuticals in the fourth quarter worth $2,004,000. Vanguard Group Inc. boosted its holdings in Alnylam Pharmaceuticals by 2.0% in the third quarter. Vanguard Group Inc. now owns 13,565,452 shares of the biopharmaceutical company’s stock worth $6,185,846,000 after purchasing an additional 268,313 shares during the period. Linden Advisors LP acquired a new position in Alnylam Pharmaceuticals in the third quarter worth $6,550,000. Finally, WINTON GROUP Ltd boosted its holdings in Alnylam Pharmaceuticals by 92.5% in the third quarter. WINTON GROUP Ltd now owns 6,800 shares of the biopharmaceutical company’s stock worth $3,101,000 after purchasing an additional 3,267 shares during the period. Institutional investors and hedge funds own 92.97% of the company’s stock.

Insider Transactions at Alnylam Pharmaceuticals

In related news, insider Melissa Mclaughlin sold 2,286 shares of Alnylam Pharmaceuticals stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $330.42, for a total transaction of $755,340.12. Following the sale, the insider directly owned 9,443 shares in the company, valued at $3,120,156.06. The trade was a 19.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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. Also, Director David E. I. Pyott sold 3,830 shares of Alnylam Pharmaceuticals 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 sale, the director owned 1,582 shares in the company, valued at approximately $473,302.76. This represents a 70.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 7,740 shares of company stock worth $2,420,214. Company insiders own 0.86% of the company’s stock.

Alnylam Pharmaceuticals Stock Performance

Shares of ALNY opened at $282.85 on Friday. Alnylam Pharmaceuticals, Inc. has a 1 year low of $281.77 and a 1 year high of $495.55. The firm has a fifty day moving average of $304.31 and a 200-day moving average of $343.68. The company has a debt-to-equity ratio of 0.94, a quick ratio of 3.06 and a current ratio of 3.13. The company has a market cap of $37.76 billion, a price-to-earnings ratio of 77.28 and a beta of 0.29.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its quarterly earnings data on Thursday, April 30th. The biopharmaceutical company reported $1.99 earnings per share for the quarter, beating 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 analysts’ expectations of $1.12 billion. During the same period in the previous year, the business earned ($0.44) earnings per share. The company’s revenue was up 96.4% on a year-over-year basis. As a group, equities analysts anticipate that Alnylam Pharmaceuticals, Inc. will post 7.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ALNY has been the subject of several analyst reports. Jefferies Financial Group reissued a “hold” rating and set a $330.00 price target (down from $522.00) on shares of Alnylam Pharmaceuticals in a report on Monday, March 16th. Weiss Ratings raised shares of Alnylam Pharmaceuticals from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 4th. Canaccord Genuity Group boosted their price target on shares of Alnylam Pharmaceuticals from $415.00 to $429.00 and gave the company a “buy” rating in a report on Tuesday, February 17th. Royal Bank Of Canada reduced their price target on shares of Alnylam Pharmaceuticals from $450.00 to $445.00 and set an “outperform” rating for the company in a report on Friday, May 1st. Finally, Wells Fargo & Company boosted their price target 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. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Alnylam Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $463.13.

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.