Panagora Asset Management Inc. Sells 4,305 Shares of Alnylam Pharmaceuticals, Inc. $ALNY

Panagora Asset Management Inc. decreased its holdings in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) by 4.4% during the second quarter, HoldingsChannel reports. The institutional investor owned 92,499 shares of the biopharmaceutical company’s stock after selling 4,305 shares during the period. Panagora Asset Management Inc.’s holdings in Alnylam Pharmaceuticals were worth $30,163,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of ALNY. SVB Wealth LLC purchased a new position in Alnylam Pharmaceuticals during the 1st quarter valued at $27,000. Atlantic Union Bankshares Corp purchased a new stake in Alnylam Pharmaceuticals in the second quarter worth $30,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Alnylam Pharmaceuticals during the second quarter worth $37,000. Ameritas Advisory Services LLC purchased a new stake in shares of Alnylam Pharmaceuticals during the second quarter valued at $42,000. Finally, AlphaQuest LLC purchased a new stake in shares of Alnylam Pharmaceuticals during the second quarter valued at $43,000. 92.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Pushkal Garg sold 3,022 shares of the firm’s stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $451.48, for a total value of $1,364,372.56. Following the sale, the executive vice president directly owned 20,221 shares in the company, valued at approximately $9,129,377.08. This trade represents a 13.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jeffrey V. Poulton sold 3,821 shares of Alnylam Pharmaceuticals stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $452.05, for a total transaction of $1,727,283.05. Following the completion of the transaction, the executive vice president directly owned 54,052 shares in the company, valued at approximately $24,434,206.60. The trade was a 6.60% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 78,328 shares of company stock valued at $35,705,793 over the last three months. Corporate insiders own 1.50% of the company’s stock.

Alnylam Pharmaceuticals Trading Up 0.7%

Shares of NASDAQ:ALNY opened at $454.32 on Tuesday. The company has a market capitalization of $60.02 billion, a PE ratio of -183.94 and a beta of 0.30. The company has a current ratio of 2.80, a quick ratio of 2.75 and a debt-to-equity ratio of 4.10. Alnylam Pharmaceuticals, Inc. has a 12-month low of $205.87 and a 12-month high of $495.55. The business’s fifty day simple moving average is $455.72 and its 200-day simple moving average is $398.86.

Wall Street Analyst Weigh In

ALNY has been the topic of several recent analyst reports. Evercore ISI raised their price target on shares of Alnylam Pharmaceuticals from $280.00 to $515.05 and gave the stock an “outperform” rating in a research note on Thursday, September 11th. Morgan Stanley raised their target price on shares of Alnylam Pharmaceuticals from $405.00 to $475.00 and gave the stock an “equal weight” rating in a research report on Monday, October 6th. Stifel Nicolaus lifted their price target on shares of Alnylam Pharmaceuticals from $441.00 to $495.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Jefferies Financial Group dropped their price objective on Alnylam Pharmaceuticals from $550.00 to $549.00 and set a “buy” rating on the stock in a research note on Thursday, October 30th. Finally, The Goldman Sachs Group raised their price objective on Alnylam Pharmaceuticals from $504.00 to $566.00 and gave the stock a “buy” rating in a report on Tuesday, September 16th. Twenty-three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Alnylam Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $482.17.

Alnylam Pharmaceuticals Profile

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.