CI Investments Inc. Trims Position in Alnylam Pharmaceuticals, Inc. $ALNY

CI Investments Inc. cut its stake in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) by 40.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,611 shares of the biopharmaceutical company’s stock after selling 2,441 shares during the period. CI Investments Inc.’s holdings in Alnylam Pharmaceuticals were worth $1,195,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Brighton Jones LLC bought a new position in Alnylam Pharmaceuticals in the 4th quarter worth about $243,000. Geneos Wealth Management Inc. grew its position in Alnylam Pharmaceuticals by 372.3% in the first quarter. Geneos Wealth Management Inc. now owns 222 shares of the biopharmaceutical company’s stock worth $60,000 after acquiring an additional 175 shares in the last quarter. Flow Traders U.S. LLC purchased a new stake in Alnylam Pharmaceuticals during the second quarter valued at about $241,000. Daiwa Securities Group Inc. lifted its stake in Alnylam Pharmaceuticals by 0.3% during the second quarter. Daiwa Securities Group Inc. now owns 12,941 shares of the biopharmaceutical company’s stock worth $4,220,000 after purchasing an additional 35 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in shares of Alnylam Pharmaceuticals by 70,300.0% in the 2nd quarter. NewEdge Advisors LLC now owns 704 shares of the biopharmaceutical company’s stock worth $229,000 after purchasing an additional 703 shares in the last quarter. 92.97% of the stock is currently owned by institutional investors.

Insider Activity at Alnylam Pharmaceuticals

In other news, Director David E. I. Pyott sold 3,830 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was 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 owned 1,582 shares of the company’s stock, valued at $473,302.76. This trade represents a 70.77% decrease in their position. The transaction was disclosed in a document filed 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.

Analysts Set New Price Targets

Several brokerages have issued reports on ALNY. Truist Financial cut their target price on Alnylam Pharmaceuticals from $505.00 to $410.00 and set a “buy” rating for the company in a research note on Monday, July 13th. Weiss Ratings upgraded shares of Alnylam Pharmaceuticals from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 4th. Morgan Stanley upped their price objective on shares of Alnylam Pharmaceuticals from $370.00 to $400.00 and gave the company an “equal weight” rating in a research note on Friday, July 10th. JPMorgan Chase & Co. reduced their target price on shares of Alnylam Pharmaceuticals from $420.00 to $400.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Royal Bank Of Canada dropped their target price on Alnylam Pharmaceuticals from $450.00 to $445.00 and set an “outperform” rating for the company in a report on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $452.13.

Alnylam Pharmaceuticals Price Performance

ALNY stock opened at $271.77 on Friday. The company has a market capitalization of $36.28 billion, a PE ratio of 74.25 and a beta of 0.27. The company’s fifty day moving average price is $292.22 and its 200-day moving average price is $316.64. The company has a debt-to-equity ratio of 0.94, a quick ratio of 3.06 and a current ratio of 3.13. Alnylam Pharmaceuticals, Inc. has a one year low of $262.21 and a one year high of $495.55.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $0.87 by $1.12. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.12 billion. Alnylam Pharmaceuticals had a return on equity of 85.76% and a net margin of 11.72%.The company’s revenue for the quarter was up 96.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.44) EPS. On average, equities analysts anticipate that Alnylam Pharmaceuticals, Inc. will post 7.35 EPS for the current fiscal 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.