Jennison Associates LLC Sells 45,207 Shares of Alnylam Pharmaceuticals, Inc. $ALNY

Jennison Associates LLC decreased its stake in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) by 12.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 304,863 shares of the biopharmaceutical company’s stock after selling 45,207 shares during the period. Jennison Associates LLC’s holdings in Alnylam Pharmaceuticals were worth $139,018,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. OFI Invest Asset Management raised its position in shares of Alnylam Pharmaceuticals by 5.8% in the 3rd quarter. OFI Invest Asset Management now owns 403 shares of the biopharmaceutical company’s stock valued at $184,000 after acquiring an additional 22 shares during the period. Meridian Financial Advisors LLC increased its stake in Alnylam Pharmaceuticals by 3.5% in the third quarter. Meridian Financial Advisors LLC now owns 828 shares of the biopharmaceutical company’s stock valued at $378,000 after purchasing an additional 28 shares in the last quarter. Evelyn Partners Investment Management LLP raised its holdings in Alnylam Pharmaceuticals by 11.5% in the second quarter. Evelyn Partners Investment Management LLP now owns 290 shares of the biopharmaceutical company’s stock worth $95,000 after purchasing an additional 30 shares during the period. ORG Partners LLC boosted its position in shares of Alnylam Pharmaceuticals by 70.2% during the third quarter. ORG Partners LLC now owns 80 shares of the biopharmaceutical company’s stock worth $36,000 after purchasing an additional 33 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in shares of Alnylam Pharmaceuticals by 0.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 12,941 shares of the biopharmaceutical company’s stock valued at $4,220,000 after buying an additional 35 shares during the period. 92.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Tolga Tanguler sold 1,510 shares of the firm’s stock in a transaction on Monday, January 12th. The shares were sold at an average price of $362.87, for a total value of $547,933.70. Following the completion of the transaction, the executive vice president owned 29,728 shares of the company’s stock, valued at approximately $10,787,399.36. This trade represents a 4.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Yvonne Greenstreet sold 9,577 shares of the business’s stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $362.86, for a total transaction of $3,475,110.22. Following the sale, the chief executive officer directly owned 78,411 shares in the company, valued at $28,452,215.46. This trade represents a 10.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 56,955 shares of company stock valued at $24,072,733 over the last ninety days. Insiders own 1.50% of the company’s stock.

Alnylam Pharmaceuticals Stock Down 3.2%

NASDAQ:ALNY opened at $357.98 on Friday. The stock has a 50-day simple moving average of $409.91 and a 200 day simple moving average of $422.52. Alnylam Pharmaceuticals, Inc. has a 52-week low of $205.87 and a 52-week high of $495.55. The company has a market cap of $47.29 billion, a PE ratio of 1,491.58 and a beta of 0.32. The company has a debt-to-equity ratio of 4.45, a quick ratio of 2.49 and a current ratio of 2.54.

Wall Street Analyst Weigh In

Several brokerages recently commented on ALNY. Wells Fargo & Company dropped their price objective on Alnylam Pharmaceuticals from $479.00 to $376.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Jefferies Financial Group lowered their price target on Alnylam Pharmaceuticals from $550.00 to $549.00 and set a “buy” rating for the company in a report on Thursday, October 30th. Morgan Stanley lifted their price objective on Alnylam Pharmaceuticals from $405.00 to $475.00 and gave the company an “equal weight” rating in a report on Monday, October 6th. Bank of America decreased their price objective on Alnylam Pharmaceuticals from $530.00 to $529.00 and set a “buy” rating for the company in a research report on Monday, January 12th. Finally, Stifel Nicolaus raised their target price on shares of Alnylam Pharmaceuticals from $495.00 to $508.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Twenty-two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $485.21.

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.