SCS Capital Management LLC Invests $34.78 Million in Alnylam Pharmaceuticals, Inc. $ALNY

SCS Capital Management LLC purchased a new position in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) during the second quarter, Holdings Channel.com reports. The firm purchased 115,549 shares of the biopharmaceutical company’s stock, valued at approximately $34,784,000. Alnylam Pharmaceuticals comprises about 0.3% of SCS Capital Management LLC’s investment portfolio, making the stock its 24th biggest position.

Several other hedge funds and other institutional investors have also modified their holdings of the company. MV Capital Management Inc. acquired a new stake in Alnylam Pharmaceuticals during the fourth quarter valued at $25,000. HM Payson & Co. acquired a new position in Alnylam Pharmaceuticals in the 4th quarter worth about $27,000. Golden State Wealth Management LLC increased its position in Alnylam Pharmaceuticals by 100.0% in the 4th quarter. Golden State Wealth Management LLC now owns 72 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 36 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Alnylam Pharmaceuticals during the 3rd quarter worth about $29,000. Finally, Manchester Capital Management LLC raised its stake in shares of Alnylam Pharmaceuticals by 600.0% during the 4th quarter. Manchester Capital Management LLC now owns 84 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 72 shares in the last quarter. 92.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alnylam Pharmaceuticals

In related news, Director David E. I. Pyott sold 3,830 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $299.18, for a total value of $1,145,859.40. Following the completion of the sale, the director directly owned 1,582 shares in the company, valued at approximately $473,302.76. The trade was a 70.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.86% of the company’s stock.

Analysts Set New Price Targets

ALNY has been the subject of several recent research reports. Barclays lowered their price target on Alnylam Pharmaceuticals from $527.00 to $450.00 and set an “overweight” rating for the company in a research note on Monday, August 3rd. Stifel Nicolaus cut their price objective on shares of Alnylam Pharmaceuticals from $444.00 to $318.00 and set a “buy” rating on the stock in a research report on Friday, July 31st. Citigroup reduced their target price on shares of Alnylam Pharmaceuticals from $380.00 to $340.00 and set a “buy” rating for the company in a research note on Monday, August 3rd. Needham & Company LLC decreased their target price on shares of Alnylam Pharmaceuticals from $510.00 to $357.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Finally, Raymond James Financial upgraded shares of Alnylam Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and set a $420.00 price target on the stock in a research note on Monday, August 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $393.86.

Alnylam Pharmaceuticals Stock Performance

ALNY opened at $228.65 on Friday. The company has a market cap of $30.60 billion, a PE ratio of 42.50 and a beta of 0.30. The stock has a 50-day moving average of $272.86 and a 200-day moving average of $301.44. Alnylam Pharmaceuticals, Inc. has a 52-week low of $197.81 and a 52-week high of $495.55. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.99 and a current ratio of 3.05.

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.