Westpac Banking Corp purchased a new position in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY – Free Report) in the second quarter, HoldingsChannel.com reports. The firm purchased 2,632 shares of the biopharmaceutical company’s stock, valued at approximately $792,000.
Other large investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Alnylam Pharmaceuticals during the fourth quarter valued at approximately $895,816,000. Qube Research & Technologies Ltd purchased a new position in shares of Alnylam Pharmaceuticals in the third quarter valued at $369,943,000. AQR Capital Management LLC boosted its stake in shares of Alnylam Pharmaceuticals by 295.2% in the third quarter. AQR Capital Management LLC now owns 744,008 shares of the biopharmaceutical company’s stock valued at $336,009,000 after purchasing an additional 555,759 shares during the period. Bank of New York Mellon Corp acquired a new stake in Alnylam Pharmaceuticals during the 2nd quarter valued at $148,128,000. Finally, Orbis Allan Gray Ltd grew its holdings in Alnylam Pharmaceuticals by 29.8% during 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 in the last quarter. Institutional investors and hedge funds own 92.97% of the company’s stock.
Alnylam Pharmaceuticals Stock Up 3.0%
ALNY stock opened at $236.22 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. The firm has a 50 day simple moving average of $267.02 and a 200-day simple moving average of $297.32. The company has a market capitalization of $31.61 billion, a P/E ratio of 43.91 and a beta of 0.30. Alnylam Pharmaceuticals, Inc. has a twelve month low of $197.81 and a twelve month high of $495.55.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on the stock. Chardan Capital reaffirmed a “buy” rating and set a $425.00 price target on shares of Alnylam Pharmaceuticals in a research note on Friday, July 31st. Weiss Ratings raised shares of Alnylam Pharmaceuticals from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, July 31st. Barclays lowered their target price on Alnylam Pharmaceuticals from $527.00 to $450.00 and set an “overweight” rating for the company in a research note on Monday, August 3rd. JPMorgan Chase & Co. dropped their target price on Alnylam Pharmaceuticals from $400.00 to $375.00 and set an “overweight” rating on the stock in a research report on Friday, July 31st. Finally, Wall Street Zen cut Alnylam Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Sunday, August 2nd. Four equities 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 company’s stock. According to data from MarketBeat, Alnylam Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $386.62.
Read Our Latest Stock Analysis on ALNY
Insider Buying and Selling at Alnylam Pharmaceuticals
In other news, Director David E. I. Pyott sold 3,830 shares of the business’s stock in a transaction dated 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 owned 1,582 shares of the company’s stock, valued at approximately $473,302.76. The trade was a 70.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.86% of the company’s stock.
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.
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