Prelude Capital Management LLC Acquires New Position in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)

Posted by Defense World Staff on Sep 18th, 2023

Prelude Capital Management LLC acquired a new stake in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY – Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,788 shares of the biopharmaceutical company’s stock, valued at approximately $358,000.

Other institutional investors have also bought and sold shares of the company. Raymond James Financial Services Advisors Inc. boosted its position in shares of Alnylam Pharmaceuticals by 9.4% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 11,850 shares of the biopharmaceutical company’s stock valued at $1,935,000 after acquiring an additional 1,017 shares during the last quarter. MetLife Investment Management LLC acquired a new position in Alnylam Pharmaceuticals in the 1st quarter valued at about $1,268,000. Panagora Asset Management Inc. grew its stake in shares of Alnylam Pharmaceuticals by 96.4% in the 1st quarter. Panagora Asset Management Inc. now owns 6,565 shares of the biopharmaceutical company’s stock valued at $1,072,000 after buying an additional 3,223 shares during the period. Great West Life Assurance Co. Can increased its holdings in shares of Alnylam Pharmaceuticals by 21.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 62,369 shares of the biopharmaceutical company’s stock worth $10,786,000 after buying an additional 10,892 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Alnylam Pharmaceuticals by 1.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 181,271 shares of the biopharmaceutical company’s stock valued at $29,601,000 after buying an additional 2,111 shares during the period. 93.98% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CMO Pushkal Garg sold 4,166 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $183.89, for a total transaction of $766,085.74. Following the transaction, the chief marketing officer now directly owns 4,345 shares in the company, valued at $799,002.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CMO Pushkal Garg sold 4,166 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $183.89, for a total value of $766,085.74. Following the completion of the sale, the chief marketing officer now directly owns 4,345 shares of the company’s stock, valued at $799,002.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Yvonne Greenstreet sold 4,057 shares of the stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $185.85, for a total transaction of $753,993.45. Following the sale, the chief executive officer now owns 35,216 shares of the company’s stock, valued at approximately $6,544,893.60. The disclosure for this sale can be found here. Insiders have sold a total of 15,144 shares of company stock valued at $2,806,347 over the last quarter. Company insiders own 1.40% of the company’s stock.

Alnylam Pharmaceuticals Price Performance

Shares of NASDAQ:ALNY opened at $184.99 on Monday. Alnylam Pharmaceuticals, Inc. has a 12 month low of $178.64 and a 12 month high of $242.97. The firm has a market capitalization of $23.12 billion, a P/E ratio of -21.49 and a beta of 0.45. The company’s fifty day moving average price is $194.45 and its 200 day moving average price is $195.60.

Alnylam Pharmaceuticals (NASDAQ:ALNY – Get Free Report) last posted its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($2.21) EPS for the quarter, missing analysts’ consensus estimates of ($1.72) by ($0.49). The firm had revenue of $318.75 million for the quarter, compared to analyst estimates of $331.73 million. Alnylam Pharmaceuticals had a negative return on equity of 1,287.80% and a negative net margin of 85.95%. On average, sell-side analysts anticipate that Alnylam Pharmaceuticals, Inc. will post -6.79 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. StockNews.com began coverage on Alnylam Pharmaceuticals in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Citigroup boosted their price objective on shares of Alnylam Pharmaceuticals from $265.00 to $266.00 and gave the company a “buy” rating in a report on Friday, August 4th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $240.00 target price on shares of Alnylam Pharmaceuticals in a research report on Thursday. Morgan Stanley reissued an “equal weight” rating and issued a $210.00 price target on shares of Alnylam Pharmaceuticals in a research note on Friday, August 4th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $190.00 price target on shares of Alnylam Pharmaceuticals in a research note on Thursday. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Alnylam Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $247.40.

View Our Latest Research Report on Alnylam Pharmaceuticals

About Alnylam Pharmaceuticals

(Free Report)

Alnylam Pharmaceuticals, Inc, a biopharmaceutical company, focuses on discovering, developing, and commercializing novel therapeutics based on ribonucleic acid interference. The company's pipeline of investigational RNAi therapeutics focuses on genetic medicines, cardio-metabolic diseases, hepatic infectious diseases, and central nervous system (CNS)/ocular diseases.