Covestor Ltd Cuts Position in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)

Covestor Ltd lessened its position in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) by 41.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 457 shares of the biopharmaceutical company’s stock after selling 319 shares during the quarter. Covestor Ltd’s holdings in Alnylam Pharmaceuticals were worth $126,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its holdings in shares of Alnylam Pharmaceuticals by 572.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 168 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 143 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in Alnylam Pharmaceuticals in the second quarter worth $26,000. Hollencrest Capital Management purchased a new stake in Alnylam Pharmaceuticals during the third quarter valued at about $29,000. Altitude Crest Partners Inc. bought a new position in shares of Alnylam Pharmaceuticals during the first quarter valued at about $30,000. Finally, Washington Trust Advisors Inc. purchased a new position in shares of Alnylam Pharmaceuticals in the third quarter worth about $42,000. Hedge funds and other institutional investors own 92.97% of the company’s stock.

Analysts Set New Price Targets

ALNY has been the topic of several recent research reports. Raymond James raised their price target on Alnylam Pharmaceuticals from $275.00 to $298.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. TD Cowen lifted their target price on shares of Alnylam Pharmaceuticals from $282.00 to $371.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Citigroup upped their price target on shares of Alnylam Pharmaceuticals from $291.00 to $342.00 and gave the company a “buy” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. raised their price target on shares of Alnylam Pharmaceuticals from $248.00 to $280.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. Finally, Canaccord Genuity Group upped their price objective on shares of Alnylam Pharmaceuticals from $366.00 to $384.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Six investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $294.50.

Alnylam Pharmaceuticals Trading Up 0.9 %

NASDAQ:ALNY opened at $279.82 on Tuesday. The firm has a market capitalization of $36.09 billion, a P/E ratio of -106.80 and a beta of 0.39. The company has a debt-to-equity ratio of 31.64, a current ratio of 2.75 and a quick ratio of 2.69. Alnylam Pharmaceuticals, Inc. has a one year low of $141.98 and a one year high of $304.39. The company’s 50-day simple moving average is $274.52 and its 200 day simple moving average is $232.41.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($0.87) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.36). The firm had revenue of $500.90 million during the quarter, compared to analysts’ expectations of $532.91 million. During the same quarter in the prior year, the company posted $1.15 earnings per share. The firm’s quarterly revenue was down 33.3% on a year-over-year basis. As a group, analysts forecast that Alnylam Pharmaceuticals, Inc. will post -2.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Yvonne Greenstreet sold 15,000 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $280.00, for a total transaction of $4,200,000.00. Following the completion of the transaction, the chief executive officer now directly owns 73,441 shares in the company, valued at $20,563,480. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.50% of the company’s stock.

Alnylam Pharmaceuticals Profile

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.