Allstate Corp Acquires Shares of 4,571 Alnylam Pharmaceuticals, Inc. $ALNY

Allstate Corp bought a new stake in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 4,571 shares of the biopharmaceutical company’s stock, valued at approximately $2,084,000.

A number of other hedge funds have also modified their holdings of ALNY. Thematics Asset Management purchased a new stake in Alnylam Pharmaceuticals in the 2nd quarter valued at approximately $1,995,000. Teacher Retirement System of Texas raised its position in Alnylam Pharmaceuticals by 3.2% in the second quarter. Teacher Retirement System of Texas now owns 36,408 shares of the biopharmaceutical company’s stock worth $11,872,000 after acquiring an additional 1,123 shares in the last quarter. Generali Asset Management SPA SGR lifted its holdings in Alnylam Pharmaceuticals by 6,368.0% in the third quarter. Generali Asset Management SPA SGR now owns 3,234 shares of the biopharmaceutical company’s stock valued at $1,475,000 after acquiring an additional 3,184 shares during the period. Investment Management Corp of Ontario boosted its position in shares of Alnylam Pharmaceuticals by 35.4% during the 2nd quarter. Investment Management Corp of Ontario now owns 31,521 shares of the biopharmaceutical company’s stock worth $10,279,000 after purchasing an additional 8,244 shares in the last quarter. Finally, Congress Asset Management Co. purchased a new position in shares of Alnylam Pharmaceuticals in the 3rd quarter valued at about $54,173,000. 92.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ALNY. Barclays upped their target price on shares of Alnylam Pharmaceuticals from $460.00 to $527.00 and gave the stock an “overweight” rating in a research report on Friday, October 31st. Needham & Company LLC raised their price target on Alnylam Pharmaceuticals from $520.00 to $529.00 and gave the company a “buy” rating in a research report on Monday, January 12th. Leerink Partners lowered their price objective on shares of Alnylam Pharmaceuticals from $370.00 to $351.00 and set a “market perform” rating on the stock in a research note on Monday, December 15th. Bank of America lowered their price target on shares of Alnylam Pharmaceuticals from $530.00 to $529.00 and set a “buy” rating on the stock in a research report on Monday, January 12th. Finally, HC Wainwright set a $570.00 price objective on Alnylam Pharmaceuticals and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $490.96.

Alnylam Pharmaceuticals Stock Performance

NASDAQ:ALNY opened at $359.27 on Tuesday. The company has a 50-day moving average of $417.09 and a 200-day moving average of $422.89. The firm has a market cap of $47.46 billion, a price-to-earnings ratio of 1,496.96 and a beta of 0.32. The company has a current ratio of 2.54, a quick ratio of 2.49 and a debt-to-equity ratio of 4.45. Alnylam Pharmaceuticals, Inc. has a twelve month low of $205.87 and a twelve month high of $495.55.

Insider Buying and Selling

In related news, EVP Jeffrey V. Poulton sold 2,780 shares of the stock in a transaction on Monday, January 12th. The stock was sold at an average price of $362.87, for a total value of $1,008,778.60. Following the completion of the transaction, the executive vice president owned 57,465 shares in the company, valued at $20,852,324.55. This trade represents a 4.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Yvonne Greenstreet sold 15,650 shares of Alnylam Pharmaceuticals stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $453.69, for a total value of $7,100,248.50. Following the completion of the transaction, the chief executive officer directly owned 65,409 shares in the company, valued at $29,675,409.21. This represents a 19.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 56,955 shares of company stock valued at $24,072,733 in the last three months. Insiders own 1.20% of the company’s stock.

About Alnylam Pharmaceuticals

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.