California Public Employees Retirement System Lowers Stake in Alnylam Pharmaceuticals, Inc. $ALNY

California Public Employees Retirement System cut its position in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) by 3.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 227,997 shares of the biopharmaceutical company’s stock after selling 9,008 shares during the quarter. California Public Employees Retirement System owned about 0.17% of Alnylam Pharmaceuticals worth $75,437,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Geode Capital Management LLC grew its holdings 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 worth $1,056,884,000 after purchasing an additional 151,480 shares during the period. Norges Bank purchased a new position in Alnylam Pharmaceuticals in the fourth quarter valued at approximately $895,816,000. Orbis Allan Gray Ltd lifted its position in 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 valued at $691,771,000 after buying an additional 486,489 shares in the last quarter. Legal & General Group Plc grew its stake in 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 grew 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 period. 92.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alnylam Pharmaceuticals

In other news, Director David E. I. Pyott sold 3,830 shares of Alnylam Pharmaceuticals stock in a transaction dated 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 sale, the director directly owned 1,582 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.86% of the stock is owned by corporate insiders.

Alnylam Pharmaceuticals Price Performance

Shares of NASDAQ:ALNY opened at $267.47 on Monday. The company has a market capitalization of $35.71 billion, a price-to-earnings ratio of 73.08 and a beta of 0.27. The company has a 50 day moving average of $294.16 and a two-hundred day moving average of $320.56. Alnylam Pharmaceuticals, Inc. has a 52-week low of $266.43 and a 52-week high of $495.55. The company has a quick ratio of 3.06, a current ratio of 3.13 and a debt-to-equity ratio of 0.94.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $1.12. Alnylam Pharmaceuticals had a net margin of 11.72% and a return on equity of 85.76%. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the previous year, the company posted ($0.44) earnings per share. The business’s revenue for the quarter was up 96.4% compared to the same quarter last year. As a group, analysts forecast that Alnylam Pharmaceuticals, Inc. will post 7.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ALNY shares. Truist Financial cut their target price on shares of Alnylam Pharmaceuticals from $505.00 to $410.00 and set a “buy” rating on the stock in a research note on Monday, July 13th. Citigroup began coverage on shares of Alnylam Pharmaceuticals in a research report on Tuesday, May 19th. They set a “buy” rating and a $380.00 price target for the company. Wells Fargo & Company increased their price target on Alnylam Pharmaceuticals from $376.00 to $377.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. Morgan Stanley raised their price objective on Alnylam Pharmaceuticals from $370.00 to $400.00 and gave the company an “equal weight” rating in a research report on Friday, July 10th. Finally, HC Wainwright boosted their price objective on Alnylam Pharmaceuticals from $470.00 to $485.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $455.31.

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.