NorthCrest Asset Manangement LLC Takes $738,000 Position in Alnylam Pharmaceuticals, Inc. $ALNY

NorthCrest Asset Manangement LLC acquired a new position in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 1,605 shares of the biopharmaceutical company’s stock, valued at approximately $738,000.

Several other large investors have also made changes to their positions in the company. Salomon & Ludwin LLC purchased a new stake in Alnylam Pharmaceuticals during the third quarter valued at about $27,000. ORG Partners LLC lifted its stake in shares of Alnylam Pharmaceuticals by 70.2% in the 3rd quarter. ORG Partners LLC now owns 80 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 33 shares in the last quarter. Quent Capital LLC acquired a new position in shares of Alnylam Pharmaceuticals in the 3rd quarter valued at about $39,000. Hilltop National Bank purchased a new stake in shares of Alnylam Pharmaceuticals during the 3rd quarter worth about $41,000. Finally, Atlantic Union Bankshares Corp purchased a new position in Alnylam Pharmaceuticals in the second quarter valued at approximately $30,000. 92.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Jefferies Financial Group decreased their price objective on shares of Alnylam Pharmaceuticals from $550.00 to $549.00 and set a “buy” rating for the company in a research note on Thursday, October 30th. Truist Financial decreased their price target on shares of Alnylam Pharmaceuticals from $535.00 to $530.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. JPMorgan Chase & Co. cut their price objective 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. Barclays boosted their price objective on Alnylam Pharmaceuticals from $460.00 to $527.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. Finally, Wall Street Zen upgraded Alnylam Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Monday, November 10th. Twenty-two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $485.21.

Insider Activity

In other news, EVP Kevin Joseph Fitzgerald sold 2,290 shares of the stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of $370.33, for a total transaction of $848,055.70. Following the completion of the transaction, the executive vice president directly owned 21,264 shares in the company, valued at approximately $7,874,697.12. This represents a 9.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Yvonne Greenstreet sold 9,577 shares of Alnylam Pharmaceuticals stock in a transaction on 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 sale, the chief executive officer owned 78,411 shares of the company’s stock, valued at approximately $28,452,215.46. This trade represents a 10.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 56,955 shares of company stock worth $24,072,733 over the last quarter. Corporate insiders own 1.50% of the company’s stock.

Alnylam Pharmaceuticals Stock Up 2.8%

Shares of Alnylam Pharmaceuticals stock opened at $365.46 on Thursday. The business has a 50-day moving average of $413.42 and a 200-day moving average of $422.65. The company has a debt-to-equity ratio of 4.45, a current ratio of 2.54 and a quick ratio of 2.49. The company has a market capitalization of $48.28 billion, a PE ratio of 1,522.75 and a beta of 0.32. Alnylam Pharmaceuticals, Inc. has a 1-year low of $205.87 and a 1-year high of $495.55.

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.