Rock Springs Capital Management LP Boosts Holdings in Alnylam Pharmaceuticals, Inc. $ALNY

Rock Springs Capital Management LP boosted its holdings in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) by 3.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 74,000 shares of the biopharmaceutical company’s stock after acquiring an additional 2,750 shares during the period. Alnylam Pharmaceuticals comprises 1.4% of Rock Springs Capital Management LP’s portfolio, making the stock its 21st largest holding. Rock Springs Capital Management LP’s holdings in Alnylam Pharmaceuticals were worth $24,484,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. iA Global Asset Management Inc. lifted its stake in shares of Alnylam Pharmaceuticals by 979.5% during the fourth quarter. iA Global Asset Management Inc. now owns 17,780 shares of the biopharmaceutical company’s stock valued at $7,070,000 after buying an additional 16,133 shares during the period. Perpetual Ltd acquired a new position in Alnylam Pharmaceuticals in the 4th quarter valued at $2,004,000. Hussman Strategic Advisors Inc. acquired a new position in Alnylam Pharmaceuticals in the 4th quarter valued at $2,505,000. GF Fund Management CO. LTD. lifted its stake in shares of Alnylam Pharmaceuticals by 989.1% during the 4th quarter. GF Fund Management CO. LTD. now owns 30,462 shares of the biopharmaceutical company’s stock worth $12,113,000 after purchasing an additional 27,665 shares during the period. Finally, Hsbc Holdings PLC boosted its holdings in shares of Alnylam Pharmaceuticals by 22.6% during the fourth quarter. Hsbc Holdings PLC now owns 89,517 shares of the biopharmaceutical company’s stock worth $35,675,000 after purchasing an additional 16,503 shares during the last quarter. 92.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Alnylam Pharmaceuticals

In other news, Director David E. I. Pyott sold 3,830 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $299.18, for a total value of $1,145,859.40. Following the transaction, the director owned 1,582 shares of the company’s stock, valued at approximately $473,302.76. This trade represents a 70.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Citigroup assumed coverage on Alnylam Pharmaceuticals in a research report on Tuesday, May 19th. They set a “buy” rating and a $380.00 target price on the stock. Weiss Ratings upgraded shares of Alnylam Pharmaceuticals from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 4th. Wells Fargo & Company raised their target price on shares of Alnylam Pharmaceuticals from $376.00 to $377.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Truist Financial lowered their target price on shares of Alnylam Pharmaceuticals from $505.00 to $410.00 and set a “buy” rating for the company in a report on Monday, July 13th. Finally, Morgan Stanley upped their price target on shares of Alnylam Pharmaceuticals from $370.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Friday, July 10th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $452.13.

Alnylam Pharmaceuticals Stock Up 2.4%

ALNY opened at $278.40 on Tuesday. Alnylam Pharmaceuticals, Inc. has a 1 year low of $262.21 and a 1 year high of $495.55. The firm has a 50 day moving average price of $292.06 and a 200 day moving average price of $315.16. The company has a debt-to-equity ratio of 0.94, a quick ratio of 3.06 and a current ratio of 3.13. The company has a market cap of $37.17 billion, a PE ratio of 76.07 and a beta of 0.27.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its quarterly earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.99 earnings per share for the quarter, beating 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 firm 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. Alnylam Pharmaceuticals’s revenue was up 96.4% compared to the same quarter last year. Sell-side analysts expect that Alnylam Pharmaceuticals, Inc. will post 7.35 earnings per share for the current 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.