E Fund Management Co. Ltd. Acquires New Holdings in Alnylam Pharmaceuticals, Inc. $ALNY

E Fund Management Co. Ltd. bought a new stake in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 6,073 shares of the biopharmaceutical company’s stock, valued at approximately $1,828,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Alnylam Pharmaceuticals in the fourth quarter valued at approximately $895,816,000. Qube Research & Technologies Ltd bought a new position in Alnylam Pharmaceuticals during the third quarter worth about $369,943,000. AQR Capital Management LLC increased its holdings in shares of Alnylam Pharmaceuticals by 295.2% during the third quarter. AQR Capital Management LLC now owns 744,008 shares of the biopharmaceutical company’s stock worth $336,009,000 after purchasing an additional 555,759 shares during the period. Bank of New York Mellon Corp acquired a new position in Alnylam Pharmaceuticals in the 2nd quarter valued at $148,128,000. Finally, Orbis Allan Gray Ltd raised its stake in Alnylam Pharmaceuticals by 29.8% in the second quarter. Orbis Allan Gray Ltd now owns 2,121,412 shares of the biopharmaceutical company’s stock valued at $691,771,000 after purchasing an additional 486,489 shares in the last quarter. 92.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ALNY shares. Weiss Ratings upgraded shares of Alnylam Pharmaceuticals from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, July 31st. Truist Financial decreased their price objective on shares of Alnylam Pharmaceuticals from $410.00 to $315.00 and set a “buy” rating for the company in a research report on Tuesday, August 4th. Sanford C. Bernstein upgraded Alnylam Pharmaceuticals to a “strong-buy” rating in a report on Wednesday, July 29th. Stifel Nicolaus decreased their target price on Alnylam Pharmaceuticals from $444.00 to $318.00 and set a “buy” rating for the company in a research report on Friday, July 31st. Finally, BMO Capital Markets started coverage on shares of Alnylam Pharmaceuticals in a research report on Wednesday. They set an “outperform” rating and a $318.00 target price for the company. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Alnylam Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $386.62.

Insider Buying and Selling at Alnylam Pharmaceuticals

In related news, Director David E. I. Pyott sold 3,830 shares of Alnylam Pharmaceuticals stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $299.18, for a total transaction of $1,145,859.40. Following the sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.86% of the company’s stock.

Alnylam Pharmaceuticals Stock Performance

Alnylam Pharmaceuticals stock opened at $242.61 on Thursday. The firm has a 50-day moving average of $269.15 and a 200-day moving average of $298.51. The firm has a market cap of $32.46 billion, a P/E ratio of 45.09 and a beta of 0.30. The company has a current ratio of 3.05, a quick ratio of 2.99 and a debt-to-equity ratio of 0.75. Alnylam Pharmaceuticals, Inc. has a 1-year low of $197.81 and a 1-year high of $495.55.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.21. Alnylam Pharmaceuticals had a return on equity of 84.93% and a net margin of 15.26%.The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the previous year, the firm posted ($0.51) EPS. The business’s revenue for the quarter was up 66.9% compared to the same quarter last year. Sell-side analysts expect that Alnylam Pharmaceuticals, Inc. will post 6.59 EPS for the current year.

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.