Insider Selling: Alnylam Pharmaceuticals (NASDAQ:ALNY) Director Sells $1,145,859.40 in Stock

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) Director David Pyott sold 3,830 shares of Alnylam Pharmaceuticals stock in a transaction dated 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 completion of the transaction, the director owned 1,582 shares in the company, valued at approximately $473,302.76. This represents a 70.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Alnylam Pharmaceuticals Stock Performance

Alnylam Pharmaceuticals stock opened at $303.05 on Friday. Alnylam Pharmaceuticals, Inc. has a 12-month low of $283.10 and a 12-month high of $495.55. The company has a quick ratio of 3.06, a current ratio of 3.13 and a debt-to-equity ratio of 0.94. The business’s 50-day moving average price is $307.66 and its two-hundred day moving average price is $349.36. The stock has a market cap of $40.46 billion, a PE ratio of 82.80 and a beta of 0.29.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its quarterly earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.99 earnings per share for the quarter, topping the consensus estimate of $0.87 by $1.12. Alnylam Pharmaceuticals had a return on equity of 85.76% and a net margin of 11.72%.The company 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 business posted ($0.44) earnings per share. The business’s quarterly revenue was up 96.4% compared to the same quarter last year. As a group, analysts expect that Alnylam Pharmaceuticals, Inc. will post 7.47 earnings per share for the current fiscal year.

Institutional Trading of Alnylam Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the stock. MV Capital Management Inc. bought a new stake in Alnylam Pharmaceuticals in the fourth quarter valued at approximately $25,000. HM Payson & Co. bought a new stake in Alnylam Pharmaceuticals in the fourth quarter valued at approximately $27,000. Golden State Wealth Management LLC boosted its holdings in Alnylam Pharmaceuticals by 100.0% in the fourth quarter. Golden State Wealth Management LLC now owns 72 shares of the biopharmaceutical company’s stock valued at $29,000 after acquiring an additional 36 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Alnylam Pharmaceuticals in the third quarter valued at approximately $29,000. Finally, Ameriflex Group Inc. bought a new stake in Alnylam Pharmaceuticals in the third quarter valued at approximately $32,000. 92.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ALNY shares. Truist Financial lowered their price objective on Alnylam Pharmaceuticals from $515.00 to $505.00 and set a “buy” rating for the company in a research note on Monday, April 13th. Royal Bank Of Canada lowered their price objective on Alnylam Pharmaceuticals from $450.00 to $445.00 and set an “outperform” rating for the company in a research note on Friday, May 1st. Citigroup started coverage on Alnylam Pharmaceuticals in a research note on Tuesday, May 19th. They issued a “buy” rating and a $380.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and issued a $510.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Thursday. Finally, Wells Fargo & Company upped their price objective on Alnylam Pharmaceuticals from $376.00 to $377.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $463.13.

About Alnylam Pharmaceuticals

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.