Alnylam Pharmaceuticals, Inc. $ALNY Shares Sold by CI Investments Inc.

CI Investments Inc. reduced its position in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) by 40.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,611 shares of the biopharmaceutical company’s stock after selling 2,441 shares during the quarter. CI Investments Inc.’s holdings in Alnylam Pharmaceuticals were worth $1,195,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Geode Capital Management LLC increased its position in Alnylam Pharmaceuticals by 6.1% during the fourth quarter. Geode Capital Management LLC now owns 2,650,722 shares of the biopharmaceutical company’s stock worth $1,056,884,000 after purchasing an additional 151,480 shares during the last quarter. Norges Bank acquired a new stake in Alnylam Pharmaceuticals during the fourth quarter worth $895,816,000. Orbis Allan Gray Ltd increased its stake in Alnylam Pharmaceuticals by 29.8% during the second quarter. Orbis Allan Gray Ltd now owns 2,121,412 shares of the biopharmaceutical company’s stock worth $691,771,000 after acquiring an additional 486,489 shares during the last quarter. Legal & General Group Plc raised its position in Alnylam Pharmaceuticals by 8.3% in the fourth quarter. Legal & General Group Plc now owns 961,496 shares of the biopharmaceutical company’s stock valued at $382,339,000 after purchasing an additional 73,716 shares during the period. Finally, AQR Capital Management LLC raised its position in Alnylam Pharmaceuticals by 23.6% in the fourth quarter. AQR Capital Management LLC now owns 919,959 shares of the biopharmaceutical company’s stock valued at $365,822,000 after purchasing an additional 175,951 shares during the period. 92.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ALNY has been the subject of a number of research analyst reports. Weiss Ratings upgraded Alnylam Pharmaceuticals from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 4th. Wall Street Zen raised shares of Alnylam Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Truist Financial lowered their target price on shares of Alnylam Pharmaceuticals from $505.00 to $410.00 and set a “buy” rating for the company in a research note on Monday, July 13th. Bank of America reduced their price target on shares of Alnylam Pharmaceuticals from $460.00 to $410.00 and set a “buy” rating on the stock in a research note on Tuesday, July 14th. Finally, HC Wainwright increased their price objective on shares of Alnylam Pharmaceuticals from $470.00 to $485.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Two equities research 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $452.13.

Alnylam Pharmaceuticals Price Performance

Shares of ALNY opened at $271.77 on Friday. The company has a market cap of $36.28 billion, a P/E ratio of 74.25 and a beta of 0.27. Alnylam Pharmaceuticals, Inc. has a fifty-two week low of $262.21 and a fifty-two week high of $495.55. The company has a quick ratio of 3.06, a current ratio of 3.13 and a debt-to-equity ratio of 0.94. The firm’s 50 day moving average price is $292.22 and its 200 day moving average price is $316.64.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its quarterly earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.99 EPS for the quarter, beating the consensus estimate of $0.87 by $1.12. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Alnylam Pharmaceuticals had a net margin of 11.72% and a return on equity of 85.76%. The firm’s revenue was up 96.4% compared to the same quarter last year. During the same quarter last year, the company posted ($0.44) EPS. On average, research analysts forecast that Alnylam Pharmaceuticals, Inc. will post 7.35 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 Alnylam Pharmaceuticals stock in a transaction that occurred 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 completion of the transaction, the director owned 1,582 shares in the company, valued at $473,302.76. The trade was a 70.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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.