Principal Financial Group Inc. Sells 45,114 Shares of Alnylam Pharmaceuticals, Inc. $ALNY

Principal Financial Group Inc. cut its position in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) by 89.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,420 shares of the biopharmaceutical company’s stock after selling 45,114 shares during the period. Principal Financial Group Inc.’s holdings in Alnylam Pharmaceuticals were worth $2,472,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Root Financial Partners LLC acquired a new stake in shares of Alnylam Pharmaceuticals in the third quarter valued at approximately $25,000. Salomon & Ludwin LLC acquired a new stake in Alnylam Pharmaceuticals during the 3rd quarter valued at $27,000. ORG Partners LLC boosted its position in Alnylam Pharmaceuticals by 70.2% during the third quarter. ORG Partners LLC now owns 80 shares of the biopharmaceutical company’s stock worth $36,000 after purchasing an additional 33 shares during the period. Quent Capital LLC acquired a new position in shares of Alnylam Pharmaceuticals in the third quarter valued at $39,000. Finally, Hilltop National Bank bought a new position in shares of Alnylam Pharmaceuticals in the third quarter valued at about $41,000. 92.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ALNY has been the subject of several research analyst reports. Jefferies Financial Group reduced their target price on shares of Alnylam Pharmaceuticals from $550.00 to $549.00 and set a “buy” rating for the company in a report on Thursday, October 30th. Truist Financial decreased their target price on Alnylam Pharmaceuticals from $535.00 to $530.00 and set a “buy” rating on the stock in a research report on Thursday, January 8th. Morgan Stanley dropped their price target on Alnylam Pharmaceuticals from $495.00 to $408.00 and set an “equal weight” rating for the company in a report on Friday, January 30th. Weiss Ratings upgraded Alnylam Pharmaceuticals from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Thursday, January 15th. Finally, Bank of America reissued a “buy” rating on shares of Alnylam Pharmaceuticals in a report on Thursday. Twenty-two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $477.38.

Insider Buying and Selling

In other Alnylam Pharmaceuticals news, EVP Tolga Tanguler sold 1,510 shares of the business’s stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $362.87, for a total transaction of $547,933.70. Following the completion of the transaction, the executive vice president owned 29,728 shares of the company’s stock, valued at approximately $10,787,399.36. The trade was a 4.83% 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 the SEC website. Also, CEO Yvonne Greenstreet sold 9,577 shares of the stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $362.86, for a total transaction of $3,475,110.22. Following the completion of the transaction, the chief executive officer directly owned 78,411 shares of the company’s stock, valued at $28,452,215.46. This trade represents a 10.88% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 19,177 shares of company stock worth $6,975,746. 1.20% of the stock is owned by company insiders.

Alnylam Pharmaceuticals Stock Up 1.9%

ALNY stock opened at $314.40 on Tuesday. Alnylam Pharmaceuticals, Inc. has a 52 week low of $205.87 and a 52 week high of $495.55. The business has a 50-day simple moving average of $372.67 and a 200 day simple moving average of $424.73. The company has a quick ratio of 2.71, a current ratio of 2.76 and a debt-to-equity ratio of 1.28. The company has a market cap of $41.70 billion, a PE ratio of 183.86 and a beta of 0.35.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its earnings results on Thursday, February 12th. The biopharmaceutical company reported $0.82 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.61). The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.16 billion. Alnylam Pharmaceuticals had a net margin of 6.43% and a return on equity of 69.02%. Alnylam Pharmaceuticals’s quarterly revenue was up 84.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.65) earnings per share. Sell-side analysts anticipate that Alnylam Pharmaceuticals, Inc. will post -1.7 EPS for the current fiscal year.

Alnylam Pharmaceuticals 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.