Korea Investment CORP Purchases New Stake in Alnylam Pharmaceuticals, Inc. $ALNY

Korea Investment CORP purchased a new position in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 247,660 shares of the biopharmaceutical company’s stock, valued at approximately $74,553,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC increased its holdings in shares of Alnylam Pharmaceuticals by 6.1% during the fourth quarter. Geode Capital Management LLC now owns 2,650,722 shares of the biopharmaceutical company’s stock worth $1,056,884,000 after buying an additional 151,480 shares in the last quarter. Norges Bank acquired a new position in shares of Alnylam Pharmaceuticals in the fourth quarter worth approximately $895,816,000. Orbis Allan Gray Ltd boosted its stake in shares of Alnylam Pharmaceuticals by 29.8% in the 2nd quarter. Orbis Allan Gray Ltd now owns 2,121,412 shares of the biopharmaceutical company’s stock valued at $691,771,000 after purchasing an additional 486,489 shares during the last quarter. Legal & General Group Plc increased its position in shares of Alnylam Pharmaceuticals by 8.3% during the fourth quarter. Legal & General Group Plc now owns 961,496 shares of the biopharmaceutical company’s stock worth $382,339,000 after buying an additional 73,716 shares during the period. Finally, AQR Capital Management LLC raised its stake in Alnylam Pharmaceuticals by 23.6% during the fourth quarter. AQR Capital Management LLC now owns 919,959 shares of the biopharmaceutical company’s stock worth $365,822,000 after buying an additional 175,951 shares during the last quarter. Institutional investors own 92.97% of the company’s stock.

Insider Activity at Alnylam Pharmaceuticals

In related news, Director David E. I. Pyott sold 3,830 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $299.18, for a total transaction of $1,145,859.40. Following the transaction, the director directly owned 1,582 shares of the company’s stock, valued at $473,302.76. This trade 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 is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.86% of the stock is currently owned by corporate insiders.

Alnylam Pharmaceuticals Stock Up 3.0%

ALNY stock opened at $236.22 on Friday. The company has a market cap of $31.61 billion, a P/E ratio of 43.91 and a beta of 0.30. Alnylam Pharmaceuticals, Inc. has a fifty-two week low of $197.81 and a fifty-two week high of $495.55. The stock’s 50 day simple moving average is $267.02 and its 200 day simple moving average is $297.32. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.99 and a current ratio of 3.05.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported $1.84 EPS for the quarter, topping the consensus estimate of $1.63 by $0.21. Alnylam Pharmaceuticals had a return on equity of 84.93% and a net margin of 15.26%.The firm had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the prior year, the business posted ($0.51) earnings per share. The company’s quarterly revenue was up 66.9% compared to the same quarter last year. On average, research analysts expect that Alnylam Pharmaceuticals, Inc. will post 6.59 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ALNY. Chardan Capital reiterated a “buy” rating and set a $425.00 price target on shares of Alnylam Pharmaceuticals in a report on Friday, July 31st. Oppenheimer dropped their price objective on Alnylam Pharmaceuticals from $500.00 to $350.00 and set an “outperform” rating on the stock in a research note on Friday, July 31st. Needham & Company LLC decreased their target price on Alnylam Pharmaceuticals from $510.00 to $357.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Truist Financial lowered their target price on Alnylam Pharmaceuticals from $410.00 to $315.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. Finally, Bank of America dropped their price target on Alnylam Pharmaceuticals from $460.00 to $410.00 and set a “buy” rating on the stock in a research note on Tuesday, July 14th. Four research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Alnylam Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $386.62.

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.