Azzad Asset Management Inc. ADV Purchases 1,969 Shares of Alnylam Pharmaceuticals, Inc. $ALNY

Azzad Asset Management Inc. ADV increased its position in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) by 74.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,620 shares of the biopharmaceutical company’s stock after purchasing an additional 1,969 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Alnylam Pharmaceuticals were worth $2,107,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Thematics Asset Management bought a new stake in shares of Alnylam Pharmaceuticals in the second quarter valued at $1,995,000. Mediolanum International Funds Ltd purchased a new stake in Alnylam Pharmaceuticals in the 3rd quarter worth about $11,389,000. Teacher Retirement System of Texas raised its stake in Alnylam Pharmaceuticals by 3.2% in the 2nd quarter. Teacher Retirement System of Texas now owns 36,408 shares of the biopharmaceutical company’s stock valued at $11,872,000 after acquiring an additional 1,123 shares during the period. Rakuten Investment Management Inc. purchased a new stake in Alnylam Pharmaceuticals during the third quarter valued at about $14,205,000. Finally, Generali Asset Management SPA SGR boosted its position in Alnylam Pharmaceuticals by 6,368.0% during the third quarter. Generali Asset Management SPA SGR now owns 3,234 shares of the biopharmaceutical company’s stock worth $1,475,000 after purchasing an additional 3,184 shares during the period. Hedge funds and other institutional investors own 92.97% of the company’s stock.

Alnylam Pharmaceuticals Price Performance

Alnylam Pharmaceuticals stock opened at $328.16 on Monday. The stock has a market cap of $43.35 billion, a price-to-earnings ratio of 1,367.33 and a beta of 0.35. The company has a quick ratio of 2.49, a current ratio of 2.54 and a debt-to-equity ratio of 4.45. The business has a 50-day simple moving average of $389.54 and a 200 day simple moving average of $425.73. Alnylam Pharmaceuticals, Inc. has a 52 week low of $205.87 and a 52 week high of $495.55.

Insider Activity at Alnylam Pharmaceuticals

In related news, EVP Pushkal Garg sold 1,510 shares of the company’s stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $362.87, for a total value of $547,933.70. Following the transaction, the executive vice president directly owned 22,511 shares in the company, valued at approximately $8,168,566.57. This represents a 6.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Yvonne Greenstreet sold 15,650 shares of Alnylam Pharmaceuticals stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $453.69, for a total transaction of $7,100,248.50. Following the sale, the chief executive officer owned 65,409 shares of the company’s stock, valued at approximately $29,675,409.21. The trade was a 19.31% decrease in their ownership of the stock. 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 ninety days. Insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ALNY. HC Wainwright lowered their price target on shares of Alnylam Pharmaceuticals from $570.00 to $510.00 and set a “buy” rating on the stock in a research report on Friday, January 30th. JPMorgan Chase & Co. dropped their target price on Alnylam Pharmaceuticals from $475.00 to $473.00 and set an “overweight” rating on the stock in a research report on Monday, October 13th. Piper Sandler reaffirmed an “overweight” rating and issued a $489.00 price target (up from $449.00) on shares of Alnylam Pharmaceuticals in a report on Friday, October 31st. Oppenheimer began coverage on Alnylam Pharmaceuticals in a research note on Wednesday, January 7th. They set an “outperform” rating and a $500.00 price objective on the stock. Finally, Weiss Ratings raised Alnylam Pharmaceuticals from a “sell (d-)” rating to a “hold (c-)” rating in a report on Thursday, January 15th. Twenty-two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $477.13.

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.