Geode Capital Management LLC Increases Stake in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)

Geode Capital Management LLC increased its holdings in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) by 2.8% in the fourth quarter, Holdings Channel reports. The fund owned 2,206,800 shares of the biopharmaceutical company’s stock after purchasing an additional 59,597 shares during the quarter. Geode Capital Management LLC’s holdings in Alnylam Pharmaceuticals were worth $518,367,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ALNY. Jennison Associates LLC purchased a new stake in shares of Alnylam Pharmaceuticals in the 4th quarter worth approximately $61,160,000. Strategic Financial Concepts LLC purchased a new stake in Alnylam Pharmaceuticals during the fourth quarter worth $41,529,000. Truist Financial Corp boosted its position in Alnylam Pharmaceuticals by 136.6% during the 4th quarter. Truist Financial Corp now owns 4,398 shares of the biopharmaceutical company’s stock valued at $1,035,000 after acquiring an additional 2,539 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in Alnylam Pharmaceuticals by 3.0% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 286,703 shares of the biopharmaceutical company’s stock valued at $67,464,000 after acquiring an additional 8,462 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Alnylam Pharmaceuticals by 13.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 19,918 shares of the biopharmaceutical company’s stock valued at $4,687,000 after acquiring an additional 2,285 shares during the period. 92.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. raised Alnylam Pharmaceuticals from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $280.00 to $328.00 in a research report on Monday, March 24th. Canaccord Genuity Group raised their price target on shares of Alnylam Pharmaceuticals from $385.00 to $390.00 and gave the company a “buy” rating in a report on Friday, March 21st. Morgan Stanley boosted their price objective on shares of Alnylam Pharmaceuticals from $275.00 to $284.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Bank of America raised their target price on shares of Alnylam Pharmaceuticals from $302.00 to $325.00 and gave the company a “buy” rating in a research note on Friday, March 21st. Finally, Stifel Nicolaus upped their price target on Alnylam Pharmaceuticals from $300.00 to $345.00 and gave the stock a “buy” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $316.25.

Alnylam Pharmaceuticals Price Performance

NASDAQ:ALNY opened at $262.16 on Friday. The firm’s fifty day moving average is $259.89 and its two-hundred day moving average is $260.57. The firm has a market cap of $34.10 billion, a price-to-earnings ratio of -120.81 and a beta of 0.30. The company has a debt-to-equity ratio of 15.27, a quick ratio of 2.71 and a current ratio of 2.78. Alnylam Pharmaceuticals, Inc. has a one year low of $141.98 and a one year high of $304.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its earnings results on Thursday, February 13th. The biopharmaceutical company reported ($0.65) EPS for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.03). Research analysts expect that Alnylam Pharmaceuticals, Inc. will post -1.7 EPS for the current year.

Insider Transactions at Alnylam Pharmaceuticals

In other news, EVP Kevin Joseph Fitzgerald sold 663 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $255.21, for a total transaction of $169,204.23. Following the sale, the executive vice president now directly owns 14,321 shares in the company, valued at $3,654,862.41. This trade represents a 4.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Pushkal Garg sold 1,548 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $251.67, for a total value of $389,585.16. Following the completion of the transaction, the chief marketing officer now directly owns 11,989 shares of the company’s stock, valued at $3,017,271.63. The trade was a 11.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,234 shares of company stock valued at $19,958,097 in the last 90 days. 1.50% of the stock is currently owned by company insiders.

About Alnylam Pharmaceuticals

Alnylam Pharmaceuticals, Inc, a biopharmaceutical company, focuses on discovering, developing, and commercializing novel therapeutics based on ribonucleic acid interference. Its marketed products include ONPATTRO (patisiran) for the treatment of the polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults; AMVUTTRA for the treatment of hATTR amyloidosis with polyneuropathy in adults; GIVLAARI for the treatment of adults with acute hepatic porphyria; and OXLUMO for the treatment of primary hyperoxaluria type 1.