Assenagon Asset Management S.A. Reduces Holdings in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)

Assenagon Asset Management S.A. cut its position in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) by 67.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,405 shares of the biopharmaceutical company’s stock after selling 13,513 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Alnylam Pharmaceuticals were worth $1,729,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC grew its stake in shares of Alnylam Pharmaceuticals by 208.8% during the first quarter. Whipplewood Advisors LLC now owns 105 shares of the biopharmaceutical company’s stock valued at $28,000 after acquiring an additional 71 shares in the last quarter. Larson Financial Group LLC increased its position in shares of Alnylam Pharmaceuticals by 187.2% in the 4th quarter. Larson Financial Group LLC now owns 112 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 73 shares during the last quarter. Park Square Financial Group LLC bought a new position in shares of Alnylam Pharmaceuticals during the fourth quarter worth about $28,000. Colonial Trust Co SC acquired a new position in Alnylam Pharmaceuticals in the fourth quarter worth about $35,000. Finally, OFI Invest Asset Management bought a new stake in Alnylam Pharmaceuticals in the fourth quarter valued at about $35,000. Hedge funds and other institutional investors own 92.97% of the company’s stock.

Alnylam Pharmaceuticals Price Performance

NASDAQ:ALNY opened at $308.71 on Wednesday. Alnylam Pharmaceuticals, Inc. has a 52-week low of $152.30 and a 52-week high of $310.22. The company has a quick ratio of 2.98, a current ratio of 3.04 and a debt-to-equity ratio of 8.88. The firm has a market cap of $40.25 billion, a P/E ratio of -147.71 and a beta of 0.22. The business’s 50-day moving average price is $273.09 and its 200 day moving average price is $259.83.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its earnings results on Thursday, May 1st. The biopharmaceutical company reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.07). The business had revenue of $594.19 million for the quarter, compared to analyst estimates of $584.32 million. Alnylam Pharmaceuticals had a negative net margin of 11.49% and a negative return on equity of 510.31%. The firm’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same period in the prior year, the company earned ($0.16) earnings per share. As a group, sell-side analysts predict that Alnylam Pharmaceuticals, Inc. will post -1.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Yvonne Greenstreet sold 31,640 shares of Alnylam Pharmaceuticals stock in a transaction on Friday, May 30th. The stock was sold at an average price of $304.39, for a total transaction of $9,630,899.60. Following the transaction, the chief executive officer now owns 48,948 shares in the company, valued at approximately $14,899,281.72. The trade was a 39.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on ALNY. Redburn Atlantic began coverage on Alnylam Pharmaceuticals in a research report on Monday, March 31st. They issued a “buy” rating and a $353.00 target price for the company. Bank of America raised their price target on shares of Alnylam Pharmaceuticals from $302.00 to $325.00 and gave the stock a “buy” rating in a research report on Friday, March 21st. William Blair reaffirmed an “outperform” rating on shares of Alnylam Pharmaceuticals in a research report on Friday, March 21st. Citigroup raised their price target on Alnylam Pharmaceuticals from $338.00 to $351.00 and gave the stock a “buy” rating in a report on Friday, March 21st. Finally, Wall Street Zen downgraded shares of Alnylam Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat.com, Alnylam Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $319.58.

Alnylam Pharmaceuticals Company 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.