Envestnet Asset Management Inc. Has $54.25 Million Stock Position in Alnylam Pharmaceuticals, Inc. $ALNY

Envestnet Asset Management Inc. raised its holdings in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) by 24.2% in the third quarter, Holdings Channel reports. The institutional investor owned 118,964 shares of the biopharmaceutical company’s stock after buying an additional 23,168 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Alnylam Pharmaceuticals were worth $54,248,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Norges Bank bought a new position in Alnylam Pharmaceuticals during the second quarter worth $662,837,000. Holocene Advisors LP acquired a new stake in Alnylam Pharmaceuticals in the 2nd quarter worth $194,616,000. Orbis Allan Gray Ltd increased its holdings in shares of Alnylam Pharmaceuticals by 29.8% during the 2nd quarter. Orbis Allan Gray Ltd now owns 2,121,412 shares of the biopharmaceutical company’s stock worth $691,771,000 after purchasing an additional 486,489 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in shares of Alnylam Pharmaceuticals during the third quarter valued at about $162,577,000. Finally, Vanguard Group Inc. lifted its stake in shares of Alnylam Pharmaceuticals by 1.8% in the second quarter. Vanguard Group Inc. now owns 13,297,139 shares of the biopharmaceutical company’s stock valued at $4,336,064,000 after buying an additional 240,534 shares during the period. 92.97% of the stock is owned by institutional investors.

Insider Activity at Alnylam Pharmaceuticals

In related news, EVP Jeffrey V. Poulton sold 2,780 shares of the stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $362.87, for a total transaction of $1,008,778.60. Following the sale, the executive vice president directly owned 57,465 shares in the company, valued at $20,852,324.55. This represents a 4.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Yvonne Greenstreet sold 9,577 shares of the firm’s stock in a transaction on Monday, January 12th. The shares were sold at an average price of $362.86, for a total value of $3,475,110.22. Following the sale, the chief executive officer directly owned 78,411 shares of the company’s stock, valued at $28,452,215.46. This represents a 10.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 56,955 shares of company stock valued at $24,072,733. Insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ALNY. JPMorgan Chase & Co. lowered their price target on Alnylam Pharmaceuticals from $475.00 to $473.00 and set an “overweight” rating on the stock in a research note on Monday, October 13th. Oppenheimer assumed coverage on Alnylam Pharmaceuticals in a research report on Wednesday, January 7th. They set an “outperform” rating and a $500.00 price objective on the stock. Raymond James Financial reaffirmed an “outperform” rating and issued a $472.00 target price on shares of Alnylam Pharmaceuticals in a research report on Monday, January 12th. Morgan Stanley decreased their price target on shares of Alnylam Pharmaceuticals from $495.00 to $408.00 and set an “equal weight” rating on the stock in a research note on Friday, January 30th. Finally, Weiss Ratings upgraded shares of Alnylam Pharmaceuticals from a “sell (d-)” rating to a “hold (c-)” rating in a research note 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 company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $477.13.

Alnylam Pharmaceuticals Trading Down 2.5%

Shares of Alnylam Pharmaceuticals stock opened at $320.00 on Tuesday. Alnylam Pharmaceuticals, Inc. has a 12-month low of $205.87 and a 12-month high of $495.55. The stock has a market capitalization of $42.28 billion, a P/E ratio of 1,333.33 and a beta of 0.35. The company has a 50-day simple moving average of $386.86 and a 200 day simple moving average of $425.68. The company has a quick ratio of 2.49, a current ratio of 2.54 and a debt-to-equity ratio of 4.45.

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.