Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) Short Interest Down 16.6% in August

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) was the recipient of a significant decline in short interest in August. As of August 31st, there was short interest totalling 3,770,000 shares, a decline of 16.6% from the August 15th total of 4,520,000 shares. Based on an average daily volume of 1,200,000 shares, the days-to-cover ratio is presently 3.1 days.

Alnylam Pharmaceuticals Trading Up 1.5 %

Shares of Alnylam Pharmaceuticals stock opened at $274.46 on Wednesday. The business has a 50-day moving average price of $258.84 and a two-hundred day moving average price of $195.93. Alnylam Pharmaceuticals has a 1-year low of $141.98 and a 1-year high of $287.55. The company has a market cap of $34.72 billion, a P/E ratio of -102.41 and a beta of 0.38.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.74) by $0.61. The business had revenue of $659.83 million for the quarter, compared to the consensus estimate of $447.22 million. The company’s revenue was up 107.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($2.21) earnings per share. Equities research analysts forecast that Alnylam Pharmaceuticals will post -2.73 EPS for the current fiscal year.

Insider Buying and Selling at Alnylam Pharmaceuticals

In other news, Director David E. I. Pyott sold 32,450 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $220.69, for a total transaction of $7,161,390.50. Following the completion of the sale, the director now directly owns 136 shares of the company’s stock, valued at approximately $30,013.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Yvonne Greenstreet sold 15,000 shares of the firm’s 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 transaction, the chief executive officer now owns 73,441 shares in the company, valued at approximately $20,563,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David E. I. Pyott sold 32,450 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $220.69, for a total transaction of $7,161,390.50. Following the transaction, the director now directly owns 136 shares in the company, valued at $30,013.84. The disclosure for this sale can be found here. Insiders have sold 103,148 shares of company stock worth $25,658,824 over the last 90 days. 1.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Several institutional investors have recently bought and sold shares of ALNY. Gilbert & Cook Inc. boosted its holdings in Alnylam Pharmaceuticals by 7.7% in the 4th quarter. Gilbert & Cook Inc. now owns 4,443 shares of the biopharmaceutical company’s stock worth $850,000 after buying an additional 317 shares during the period. QRG Capital Management Inc. purchased a new position in shares of Alnylam Pharmaceuticals in the fourth quarter valued at $211,000. Dimensional Fund Advisors LP raised its stake in shares of Alnylam Pharmaceuticals by 6.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 267,034 shares of the biopharmaceutical company’s stock valued at $51,126,000 after purchasing an additional 15,123 shares during the period. Envestnet Portfolio Solutions Inc. lifted its holdings in Alnylam Pharmaceuticals by 7.0% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,368 shares of the biopharmaceutical company’s stock worth $262,000 after purchasing an additional 89 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Alnylam Pharmaceuticals by 7.0% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 56,144 shares of the biopharmaceutical company’s stock worth $10,703,000 after purchasing an additional 3,665 shares during the period. Hedge funds and other institutional investors own 92.97% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ALNY shares. Wells Fargo & Company upped their price objective on shares of Alnylam Pharmaceuticals from $207.00 to $233.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. UBS Group raised their price target on Alnylam Pharmaceuticals from $253.00 to $288.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Bank of America boosted their price objective on Alnylam Pharmaceuticals from $295.00 to $307.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Needham & Company LLC raised their target price on Alnylam Pharmaceuticals from $275.00 to $320.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $234.00 price target on shares of Alnylam Pharmaceuticals in a report on Monday, June 24th. Seven equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Alnylam Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $279.14.

About Alnylam Pharmaceuticals

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.