Sumitomo Life Insurance Co. Makes New $937,000 Investment in Alnylam Pharmaceuticals, Inc. $ALNY

by · The Markets Daily

Sumitomo Life Insurance Co. acquired a new stake in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY – Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 3,111 shares of the biopharmaceutical company’s stock, valued at approximately $937,000.

A number of other institutional investors have also made changes to their positions in ALNY. Daiwa Securities Group Inc. grew its position in Alnylam Pharmaceuticals by 0.3% in the second quarter. Daiwa Securities Group Inc. now owns 12,941 shares of the biopharmaceutical company’s stock valued at $4,220,000 after purchasing an additional 35 shares in the last quarter. Golden State Wealth Management LLC lifted its position in Alnylam Pharmaceuticals by 100.0% during the 4th quarter. Golden State Wealth Management LLC now owns 72 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 36 shares in the last quarter. Coldstream Capital Management Inc. boosted its stake in shares of Alnylam Pharmaceuticals by 2.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 1,640 shares of the biopharmaceutical company’s stock worth $748,000 after buying an additional 38 shares during the last quarter. Atlantic Union Bankshares Corp grew its holdings in shares of Alnylam Pharmaceuticals by 20.9% in the 4th quarter. Atlantic Union Bankshares Corp now owns 231 shares of the biopharmaceutical company’s stock valued at $92,000 after acquiring an additional 40 shares in the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC grew its holdings in shares of Alnylam Pharmaceuticals by 3.3% in the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 1,266 shares of the biopharmaceutical company’s stock valued at $577,000 after acquiring an additional 40 shares in the last quarter. Institutional investors own 92.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Stifel Nicolaus reduced their price target on Alnylam Pharmaceuticals from $444.00 to $318.00 and set a “buy” rating for the company in a research report on Friday, July 31st. JPMorgan Chase & Co. lowered their price target on Alnylam Pharmaceuticals from $400.00 to $375.00 and set an “overweight” rating on the stock in a research report on Friday, July 31st. Sanford C. Bernstein upgraded Alnylam Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday, July 29th. Truist Financial cut their price objective on Alnylam Pharmaceuticals from $410.00 to $315.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. Finally, Needham & Company LLC decreased their target price on shares of Alnylam Pharmaceuticals from $510.00 to $357.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Four analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $386.62.

Check Out Our Latest Research Report on Alnylam Pharmaceuticals

Insider Buying and Selling

In other Alnylam Pharmaceuticals news, Director David E. I. Pyott sold 3,830 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $299.18, for a total value of $1,145,859.40. Following the transaction, the director directly owned 1,582 shares of the company’s stock, valued at $473,302.76. This represents a 70.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.86% of the company’s stock.

Alnylam Pharmaceuticals Trading Up 3.0%

ALNY stock opened at $236.22 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.05 and a quick ratio of 2.99. The company has a fifty day moving average price of $267.02 and a two-hundred day moving average price of $297.32. Alnylam Pharmaceuticals, Inc. has a one year low of $197.81 and a one year high of $495.55. The stock has a market cap of $31.61 billion, a price-to-earnings ratio of 43.91 and a beta of 0.30.

Alnylam Pharmaceuticals (NASDAQ:ALNY – Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.21. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.32 billion. Alnylam Pharmaceuticals had a net margin of 15.26% and a return on equity of 84.93%. The company’s revenue was up 66.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.51) earnings per share. Equities analysts anticipate that Alnylam Pharmaceuticals, Inc. will post 6.59 EPS for the current year.

About Alnylam Pharmaceuticals

(Free Report)

Alnylam Pharmaceuticals, Inc (NASDAQ: ALNY) is a biopharmaceutical company focused on the discovery, development and commercialization of RNA interference (RNAi) therapeutics. Founded to translate the scientific discovery of RNAi into new medicines, Alnylam applies small interfering RNA (siRNA) technology to silence disease-causing genes. The company develops therapies designed to provide durable disease modification by targeting underlying genetic drivers across a range of rare and more prevalent conditions.

Alnylam has advanced multiple siRNA-based products into commercialization, initially using lipid nanoparticle delivery and more recently employing GalNAc-conjugate chemistry to enable targeted delivery to the liver with subcutaneous dosing.

Featured Stories