SCS Capital Management LLC Invests $34.78 Million in Alnylam Pharmaceuticals, Inc. $ALNY

SCS Capital Management LLC bought a new position in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 115,549 shares of the biopharmaceutical company’s stock, valued at approximately $34,784,000. Alnylam Pharmaceuticals comprises about 0.3% of SCS Capital Management LLC’s portfolio, making the stock its 24th biggest position. SCS Capital Management LLC owned approximately 0.09% of Alnylam Pharmaceuticals at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. MV Capital Management Inc. acquired a new position in shares of Alnylam Pharmaceuticals in the 4th quarter valued at $25,000. HM Payson & Co. purchased a new position in Alnylam Pharmaceuticals in the 4th quarter worth about $27,000. Golden State Wealth Management LLC raised its holdings in Alnylam Pharmaceuticals by 100.0% during the 4th quarter. Golden State Wealth Management LLC now owns 72 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 36 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in Alnylam Pharmaceuticals during the 3rd quarter worth about $29,000. Finally, Manchester Capital Management LLC raised its holdings in Alnylam Pharmaceuticals by 600.0% during the 4th quarter. Manchester Capital Management LLC now owns 84 shares of the biopharmaceutical company’s stock worth $33,000 after buying an additional 72 shares during the period. 92.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on ALNY. Weiss Ratings upgraded shares of Alnylam Pharmaceuticals from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, July 31st. Bank of America cut their price target on shares of Alnylam Pharmaceuticals from $460.00 to $410.00 and set a “buy” rating on the stock in a report on Tuesday, July 14th. Raymond James Financial upgraded shares of Alnylam Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and set a $420.00 price target for the company in a research report on Monday, August 3rd. Morgan Stanley reduced their price target on shares of Alnylam Pharmaceuticals from $400.00 to $300.00 and set an “equal weight” rating for the company in a research report on Friday, July 31st. Finally, Barclays decreased their price objective on shares of Alnylam Pharmaceuticals from $527.00 to $450.00 and set an “overweight” rating for the company in a research note on Monday, August 3rd. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Alnylam Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $393.86.

Alnylam Pharmaceuticals Trading Up 0.7%

Shares of NASDAQ ALNY opened at $228.65 on Friday. The company has a current ratio of 3.05, a quick ratio of 2.99 and a debt-to-equity ratio of 0.75. Alnylam Pharmaceuticals, Inc. has a one year low of $197.81 and a one year high of $495.55. The business has a 50-day moving average price of $272.86 and a two-hundred day moving average price of $301.44. The firm has a market capitalization of $30.60 billion, a PE ratio of 42.50 and a beta of 0.30.

Insider Activity

In other news, Director David E. I. Pyott sold 3,830 shares of the 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 sale, the director directly owned 1,582 shares of the company’s stock, valued at $473,302.76. This 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 can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.86% of the stock is owned by company insiders.

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.