Prudential Financial Inc. Reduces Stock Position in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)

Prudential Financial Inc. trimmed its stake in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) by 77.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,753 shares of the biopharmaceutical company’s stock after selling 64,212 shares during the period. Prudential Financial Inc.’s holdings in Alnylam Pharmaceuticals were worth $4,413,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Jennison Associates LLC acquired a new position in Alnylam Pharmaceuticals during the fourth quarter worth $61,160,000. Strategic Financial Concepts LLC acquired a new position in shares of Alnylam Pharmaceuticals during the 4th quarter worth $41,529,000. Truist Financial Corp boosted its position in shares of Alnylam Pharmaceuticals by 136.6% in the 4th quarter. Truist Financial Corp now owns 4,398 shares of the biopharmaceutical company’s stock worth $1,035,000 after buying an additional 2,539 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in Alnylam Pharmaceuticals by 3.0% in 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 during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in Alnylam Pharmaceuticals by 13.0% during 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 in the last quarter. Hedge funds and other institutional investors own 92.97% of the company’s stock.

Insider Activity

In other Alnylam Pharmaceuticals news, CEO Yvonne Greenstreet sold 1,213 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $255.17, for a total value of $309,521.21. Following the completion of the transaction, the chief executive officer now directly owns 81,526 shares of the company’s stock, valued at $20,802,989.42. This represents a 1.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CMO Pushkal Garg sold 52,592 shares of Alnylam Pharmaceuticals stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $285.00, for a total value of $14,988,720.00. Following the sale, the chief marketing officer now directly owns 11,989 shares in the company, valued at approximately $3,416,865. The trade was a 81.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,234 shares of company stock worth $19,958,097 over the last 90 days. Company insiders own 1.50% of the company’s stock.

Alnylam Pharmaceuticals Stock Up 0.6 %

Shares of Alnylam Pharmaceuticals stock opened at $270.02 on Tuesday. The company has a fifty day moving average price of $260.34 and a 200 day moving average price of $260.58. The company has a current ratio of 2.78, a quick ratio of 2.71 and a debt-to-equity ratio of 15.27. Alnylam Pharmaceuticals, Inc. has a twelve month low of $141.98 and a twelve month high of $304.39. The stock has a market cap of $35.13 billion, a price-to-earnings ratio of -124.43 and a beta of 0.39.

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

Analysts Set New Price Targets

Several analysts have recently commented on ALNY shares. Bank of America increased their price target on shares of Alnylam Pharmaceuticals from $302.00 to $325.00 and gave the company a “buy” rating in a research report on Friday, March 21st. Royal Bank of Canada raised their price target on Alnylam Pharmaceuticals from $310.00 to $330.00 and gave the stock an “outperform” rating in a research report on Friday, March 21st. StockNews.com downgraded Alnylam Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Morgan Stanley lifted their price objective on Alnylam Pharmaceuticals from $275.00 to $284.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. Finally, Stifel Nicolaus upped their target price on shares of Alnylam Pharmaceuticals from $300.00 to $345.00 and gave the company a “buy” rating in a report on Monday. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat, Alnylam Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $316.25.

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.