Norges Bank Acquires Shares of 2,252,775 Alnylam Pharmaceuticals, Inc. $ALNY

Norges Bank acquired a new stake in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,252,775 shares of the biopharmaceutical company’s stock, valued at approximately $895,816,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Eurizon Capital SGR S.p.A. purchased a new position in Alnylam Pharmaceuticals during the fourth quarter valued at $9,706,000. Fideuram Asset Management Ireland dac purchased a new position in Alnylam Pharmaceuticals during the fourth quarter valued at $50,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. purchased a new position in Alnylam Pharmaceuticals during the fourth quarter valued at $1,066,000. SBI Okasan Asset Management Co.Ltd. purchased a new position in Alnylam Pharmaceuticals during the fourth quarter valued at $1,312,000. Finally, Intech Investment Management LLC grew its stake in shares of Alnylam Pharmaceuticals by 703.7% in the fourth quarter. Intech Investment Management LLC now owns 46,710 shares of the biopharmaceutical company’s stock worth $18,574,000 after acquiring an additional 40,898 shares during the last quarter. Hedge funds and other institutional investors own 92.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ALNY shares. Wall Street Zen raised Alnylam Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Truist Financial decreased their target price on Alnylam Pharmaceuticals from $515.00 to $505.00 and set a “buy” rating for the company in a research report on Monday, April 13th. Chardan Capital reissued a “buy” rating and issued a $425.00 target price on shares of Alnylam Pharmaceuticals in a research report on Wednesday, March 25th. Weiss Ratings raised Alnylam Pharmaceuticals from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, May 4th. Finally, Bank of America reissued a “buy” rating on shares of Alnylam Pharmaceuticals in a research report on Thursday, February 12th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $463.13.

Insider Activity

In other news, insider Melissa Mclaughlin sold 2,286 shares of the company’s 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 completion of the sale, the insider owned 9,443 shares of the company’s stock, valued at $3,120,156.06. This represents a 19.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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, CEO Yvonne Greenstreet sold 6,799 shares of the company’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $327.65, for a total transaction of $2,227,692.35. Following the sale, the chief executive officer directly owned 98,628 shares of the company’s stock, valued at $32,315,464.20. The trade was a 6.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 21,255 shares of company stock worth $6,930,337. Company insiders own 0.86% of the company’s stock.

Alnylam Pharmaceuticals Price Performance

NASDAQ ALNY opened at $301.98 on Friday. Alnylam Pharmaceuticals, Inc. has a 52 week low of $284.28 and a 52 week high of $495.55. The firm has a market capitalization of $40.32 billion, a P/E ratio of 82.51 and a beta of 0.31. 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 company has a 50-day moving average price of $309.38 and a 200-day moving average price of $354.73.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released 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. Alnylam Pharmaceuticals had a net margin of 11.72% and a return on equity of 85.76%. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the prior year, the firm earned ($0.44) EPS. The business’s revenue for the quarter was up 96.4% compared to the same quarter last year. Equities research analysts anticipate that Alnylam Pharmaceuticals, Inc. will post 7.36 earnings per share for the current year.

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.