Jennison Associates LLC Purchases New Shares in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)

Jennison Associates LLC acquired a new position in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 259,913 shares of the biopharmaceutical company’s stock, valued at approximately $61,160,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. lifted its position in shares of Alnylam Pharmaceuticals by 7.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 38,997 shares of the biopharmaceutical company’s stock valued at $9,176,000 after buying an additional 2,657 shares during the last quarter. Chicago Partners Investment Group LLC purchased a new position in Alnylam Pharmaceuticals in the 4th quarter worth approximately $246,000. Sivik Global Healthcare LLC purchased a new position in Alnylam Pharmaceuticals in the fourth quarter worth $1,647,000. Swedbank AB increased its position in shares of Alnylam Pharmaceuticals by 3.4% during the 4th quarter. Swedbank AB now owns 55,532 shares of the biopharmaceutical company’s stock valued at $13,067,000 after purchasing an additional 1,803 shares during the last quarter. Finally, Forsta AP Fonden grew its position in Alnylam Pharmaceuticals by 7.7% during the fourth quarter. Forsta AP Fonden now owns 54,800 shares of the biopharmaceutical company’s stock valued at $12,895,000 after acquiring an additional 3,900 shares during the last quarter. 92.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Tolga Tanguler sold 1,469 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $250.98, for a total transaction of $368,689.62. Following the completion of the sale, the executive vice president now owns 13,191 shares in the company, valued at approximately $3,310,677.18. This trade represents a 10.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CMO Pushkal Garg sold 52,592 shares of Alnylam Pharmaceuticals stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $285.00, for a total transaction of $14,988,720.00. Following the sale, the chief marketing officer now owns 11,989 shares in the company, valued at approximately $3,416,865. The trade was a 81.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 73,964 shares of company stock valued at $20,622,925 in the last ninety days. Corporate insiders own 1.50% of the company’s stock.

Alnylam Pharmaceuticals Price Performance

Shares of Alnylam Pharmaceuticals stock opened at $274.55 on Tuesday. The company has a debt-to-equity ratio of 31.64, a quick ratio of 2.69 and a current ratio of 2.75. The stock’s fifty day moving average is $251.02 and its 200 day moving average is $261.36. The stock has a market cap of $35.41 billion, a P/E ratio of -104.79 and a beta of 0.35. Alnylam Pharmaceuticals, Inc. has a one year low of $141.98 and a one year high of $304.39.

Analysts Set New Price Targets

Several research analysts have recently commented on ALNY shares. StockNews.com downgraded Alnylam Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, January 9th. Barclays upped their price objective on shares of Alnylam Pharmaceuticals from $295.00 to $329.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Chardan Capital restated a “buy” rating and issued a $300.00 target price on shares of Alnylam Pharmaceuticals in a research note on Friday, November 1st. Royal Bank of Canada reissued an “outperform” rating and set a $300.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Tuesday, January 21st. Finally, Canaccord Genuity Group increased their target price on Alnylam Pharmaceuticals from $366.00 to $384.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat, Alnylam Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $298.61.

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.