Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) Sees Significant Drop in Short Interest

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) was the target of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 3,700,000 shares, a drop of 23.6% from the October 15th total of 4,840,000 shares. Based on an average daily volume of 812,200 shares, the days-to-cover ratio is currently 4.6 days.

Analyst Upgrades and Downgrades

ALNY has been the subject of several research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $300.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Friday, November 1st. Chardan Capital restated a “buy” rating and issued a $300.00 target price on shares of Alnylam Pharmaceuticals in a research report on Friday, November 1st. HC Wainwright restated a “buy” rating and issued a $400.00 price objective on shares of Alnylam Pharmaceuticals in a report on Monday, November 4th. JPMorgan Chase & Co. increased their price target on shares of Alnylam Pharmaceuticals from $248.00 to $280.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Finally, Raymond James boosted their target price on Alnylam Pharmaceuticals from $275.00 to $298.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $294.50.

Alnylam Pharmaceuticals Stock Down 1.6 %

Alnylam Pharmaceuticals stock opened at $264.60 on Thursday. Alnylam Pharmaceuticals has a twelve month low of $141.98 and a twelve month high of $304.39. The stock has a market capitalization of $34.13 billion, a price-to-earnings ratio of -100.99 and a beta of 0.39. The company has a current ratio of 2.75, a quick ratio of 2.69 and a debt-to-equity ratio of 31.64. The stock has a 50 day moving average of $275.05 and a two-hundred day moving average of $233.51.

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

Insider Transactions at Alnylam Pharmaceuticals

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ALNY. Allspring Global Investments Holdings LLC raised its holdings in Alnylam Pharmaceuticals by 572.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 168 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 143 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Alnylam Pharmaceuticals during the 2nd quarter valued at about $26,000. Huntington National Bank boosted its position in shares of Alnylam Pharmaceuticals by 91.8% in the third quarter. Huntington National Bank now owns 94 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 45 shares during the last quarter. Hollencrest Capital Management acquired a new position in Alnylam Pharmaceuticals in the third quarter valued at $29,000. Finally, Altitude Crest Partners Inc. acquired a new stake in Alnylam Pharmaceuticals during the 1st quarter worth approximately $30,000. 92.97% of the stock is owned by hedge funds and other institutional investors.

Alnylam Pharmaceuticals Company 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.