Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) Short Interest Down 23.6% in October

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 trading volume, of 812,200 shares, the days-to-cover ratio is currently 4.6 days.

Insider Buying and Selling

In other Alnylam Pharmaceuticals news, CEO Yvonne Greenstreet sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $280.00, for a total value of $4,200,000.00. Following the completion of the sale, the chief executive officer now owns 73,441 shares in the company, valued at approximately $20,563,480. This trade represents a 16.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ALNY. Capital Research Global Investors grew its position in Alnylam Pharmaceuticals by 7.3% during the 1st quarter. Capital Research Global Investors now owns 3,144,987 shares of the biopharmaceutical company’s stock worth $470,018,000 after acquiring an additional 214,908 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Alnylam Pharmaceuticals by 5.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,685,753 shares of the biopharmaceutical company’s stock worth $550,837,000 after purchasing an additional 201,784 shares during the last quarter. Eventide Asset Management LLC raised its holdings in Alnylam Pharmaceuticals by 157.9% during the 3rd quarter. Eventide Asset Management LLC now owns 224,333 shares of the biopharmaceutical company’s stock valued at $61,698,000 after buying an additional 137,333 shares during the last quarter. Los Angeles Capital Management LLC boosted its position in Alnylam Pharmaceuticals by 11,433.4% during the 3rd quarter. Los Angeles Capital Management LLC now owns 137,017 shares of the biopharmaceutical company’s stock valued at $37,684,000 after buying an additional 135,829 shares during the period. Finally, AQR Capital Management LLC grew its holdings in Alnylam Pharmaceuticals by 92.5% in the 2nd quarter. AQR Capital Management LLC now owns 271,619 shares of the biopharmaceutical company’s stock worth $65,862,000 after acquiring an additional 130,482 shares during the last quarter. 92.97% of the stock is currently owned by institutional investors.

Alnylam Pharmaceuticals Stock Performance

Shares of Alnylam Pharmaceuticals stock traded down $14.22 during trading hours on Friday, hitting $243.69. 608,709 shares of the company’s stock traded hands, compared to its average volume of 870,231. The company has a fifty day simple moving average of $275.18 and a 200-day simple moving average of $233.68. The company has a current ratio of 2.75, a quick ratio of 2.69 and a debt-to-equity ratio of 31.64. Alnylam Pharmaceuticals has a 12-month low of $141.98 and a 12-month high of $304.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its quarterly 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 analysts’ expectations of $532.91 million. Alnylam Pharmaceuticals’s revenue for the quarter was down 33.3% on a year-over-year basis. During the same period last year, the firm posted $1.15 earnings per share. As a group, analysts anticipate that Alnylam Pharmaceuticals will post -2.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Canaccord Genuity Group upped their price target on Alnylam Pharmaceuticals from $366.00 to $384.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Chardan Capital restated a “buy” rating and issued a $300.00 price objective on shares of Alnylam Pharmaceuticals in a research report on Friday, November 1st. Raymond James lifted their target price on Alnylam Pharmaceuticals from $275.00 to $298.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Citigroup increased their price target on Alnylam Pharmaceuticals from $291.00 to $342.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $300.00 target price on shares of Alnylam Pharmaceuticals in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $294.50.

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.