Korea Investment CORP acquired a new stake in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY – Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 247,660 shares of the biopharmaceutical company’s stock, valued at approximately $74,553,000. Korea Investment CORP owned 0.19% of Alnylam Pharmaceuticals at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC raised its position in shares of Alnylam Pharmaceuticals by 6.1% during the 4th quarter. Geode Capital Management LLC now owns 2,650,722 shares of the biopharmaceutical company’s stock valued at $1,056,884,000 after acquiring an additional 151,480 shares during the last quarter. Norges Bank bought a new position in shares of Alnylam Pharmaceuticals in the 4th quarter worth $895,816,000. Orbis Allan Gray Ltd grew its stake in shares of Alnylam Pharmaceuticals by 29.8% during the second quarter. Orbis Allan Gray Ltd now owns 2,121,412 shares of the biopharmaceutical company’s stock worth $691,771,000 after purchasing an additional 486,489 shares during the period. Legal & General Group Plc grew its stake 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 purchasing an additional 73,716 shares during the period. Finally, AQR Capital Management LLC increased its holdings in Alnylam Pharmaceuticals by 23.6% in the fourth quarter. AQR Capital Management LLC now owns 919,959 shares of the biopharmaceutical company’s stock valued at $365,822,000 after purchasing an additional 175,951 shares during the last quarter. 92.97% of the stock is owned by institutional investors.
Insider Buying and Selling
In other news, Director David E. I. Pyott sold 3,830 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $299.18, for a total transaction of $1,145,859.40. Following the completion of the sale, the director owned 1,582 shares in the company, valued at $473,302.76. The trade was a 70.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.86% of the company’s stock.
Alnylam Pharmaceuticals Stock Performance
Alnylam Pharmaceuticals (NASDAQ:ALNY – Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $1.84 EPS for the quarter, topping the consensus estimate of $1.63 by $0.21. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Alnylam Pharmaceuticals had a net margin of 15.26% and a return on equity of 84.93%. The company’s revenue for the quarter was up 66.9% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.51) EPS. Equities analysts predict that Alnylam Pharmaceuticals, Inc. will post 6.59 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several equities analysts have weighed in on ALNY shares. Royal Bank Of Canada cut their target price on Alnylam Pharmaceuticals from $445.00 to $350.00 and set an “outperform” rating on the stock in a research note on Friday, July 31st. Weiss Ratings upgraded Alnylam Pharmaceuticals from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, July 31st. Oppenheimer lowered their price target on Alnylam Pharmaceuticals from $500.00 to $350.00 and set an “outperform” rating for the company in a research note on Friday, July 31st. Needham & Company LLC cut their price target on shares of Alnylam Pharmaceuticals from $510.00 to $357.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Finally, Wells Fargo & Company reduced their price objective on shares of Alnylam Pharmaceuticals from $316.00 to $256.00 and set an “equal weight” rating on the stock in a research note on Friday, August 14th. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $386.62.
Read Our Latest Stock Report on ALNY
Alnylam Pharmaceuticals Company 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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