Suvretta Capital Management LLC Sells 23,800 Shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)

Suvretta Capital Management LLC decreased its holdings in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) by 63.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 13,824 shares of the biopharmaceutical company’s stock after selling 23,800 shares during the period. Suvretta Capital Management LLC’s holdings in Alnylam Pharmaceuticals were worth $3,802,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Huntington National Bank raised its holdings in shares of Alnylam Pharmaceuticals by 91.8% in the 3rd quarter. Huntington National Bank now owns 94 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 45 shares in the last quarter. Hollencrest Capital Management bought a new position in shares of Alnylam Pharmaceuticals in the third quarter worth approximately $29,000. Ashton Thomas Private Wealth LLC purchased a new stake in Alnylam Pharmaceuticals in the second quarter valued at approximately $26,000. Washington Trust Advisors Inc. purchased a new stake in Alnylam Pharmaceuticals in the third quarter valued at approximately $42,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in Alnylam Pharmaceuticals in the 3rd quarter worth approximately $45,000. 92.97% of the stock is currently owned by hedge funds and other institutional investors.

Alnylam Pharmaceuticals Stock Performance

Alnylam Pharmaceuticals stock opened at $253.74 on Friday. The stock’s 50 day moving average is $271.93 and its 200 day moving average is $240.19. The company has a market capitalization of $32.73 billion, a P/E ratio of -96.85 and a beta of 0.39. Alnylam Pharmaceuticals, Inc. has a twelve month low of $141.98 and a twelve month high of $304.39. The company has a quick ratio of 2.69, a current ratio of 2.75 and a debt-to-equity ratio of 31.64.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($0.87) earnings per share for the quarter, missing the consensus estimate 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. Alnylam Pharmaceuticals’s quarterly revenue was down 33.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.15 EPS. On average, equities research analysts predict that Alnylam Pharmaceuticals, Inc. will post -2.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Bank of America raised their price objective on shares of Alnylam Pharmaceuticals from $307.00 to $314.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Citigroup raised their price target on Alnylam Pharmaceuticals from $291.00 to $342.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Piper Sandler reiterated an “overweight” rating and issued a $296.00 price objective on shares of Alnylam Pharmaceuticals in a report on Monday, November 18th. Wells Fargo & Company increased their price objective on Alnylam Pharmaceuticals from $207.00 to $233.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $220.00 target price on shares of Alnylam Pharmaceuticals in a research report on Friday, October 11th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $298.09.

Insider Buying and Selling at Alnylam Pharmaceuticals

In other news, EVP Tolga Tanguler sold 1,469 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $250.98, for a total transaction of $368,689.62. Following the completion of the sale, the executive vice president now owns 13,191 shares of the company’s stock, valued at $3,310,677.18. This represents a 10.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Yvonne Greenstreet sold 5,219 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $250.98, for a total transaction of $1,309,864.62. Following the completion of the transaction, the chief executive officer now directly owns 78,880 shares in the company, valued at approximately $19,797,302.40. The trade was a 6.21 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,370 shares of company stock worth $2,100,703. Insiders own 1.50% of the company’s stock.

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.