Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) Sees Significant Decline in Short Interest

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNYGet Free Report) was the target of a large decrease in short interest in the month of March. As of March 15th, there was short interest totalling 2,690,000 shares, a decrease of 11.5% from the February 29th total of 3,040,000 shares. Based on an average daily volume of 834,900 shares, the days-to-cover ratio is presently 3.2 days.

Institutional Trading of Alnylam Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the business. DnB Asset Management AS increased its stake in Alnylam Pharmaceuticals by 102.3% in the third quarter. DnB Asset Management AS now owns 51,212 shares of the biopharmaceutical company’s stock worth $9,070,000 after purchasing an additional 25,898 shares during the period. Vanguard Group Inc. increased its stake in shares of Alnylam Pharmaceuticals by 0.3% during the third quarter. Vanguard Group Inc. now owns 11,656,831 shares of the biopharmaceutical company’s stock valued at $2,064,425,000 after buying an additional 30,608 shares during the period. Royal London Asset Management Ltd. increased its stake in shares of Alnylam Pharmaceuticals by 86.7% during the third quarter. Royal London Asset Management Ltd. now owns 306,595 shares of the biopharmaceutical company’s stock valued at $54,303,000 after buying an additional 142,357 shares during the period. Toronto Dominion Bank increased its stake in shares of Alnylam Pharmaceuticals by 79.1% during the third quarter. Toronto Dominion Bank now owns 55,262 shares of the biopharmaceutical company’s stock valued at $9,787,000 after buying an additional 24,400 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in shares of Alnylam Pharmaceuticals by 12.9% during the third quarter. Ameriprise Financial Inc. now owns 706,200 shares of the biopharmaceutical company’s stock valued at $125,066,000 after buying an additional 80,862 shares during the period. Hedge funds and other institutional investors own 92.97% of the company’s stock.

Alnylam Pharmaceuticals Stock Performance

NASDAQ:ALNY opened at $149.45 on Monday. The stock’s fifty day moving average is $159.58 and its 200 day moving average is $169.51. Alnylam Pharmaceuticals has a fifty-two week low of $143.52 and a fifty-two week high of $218.88. The firm has a market capitalization of $18.82 billion, a PE ratio of -41.98 and a beta of 0.39.

Alnylam Pharmaceuticals (NASDAQ:ALNYGet Free Report) last released its earnings results on Thursday, February 15th. The biopharmaceutical company reported ($1.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.20) by $0.10. The business had revenue of $439.72 million during the quarter, compared to analysts’ expectations of $439.38 million. During the same quarter in the previous year, the business earned ($1.68) EPS. The business’s revenue for the quarter was up 31.2% on a year-over-year basis. Equities analysts forecast that Alnylam Pharmaceuticals will post -4.61 EPS for the current year.

Wall Street Analyst Weigh In

ALNY has been the subject of several recent analyst reports. Morgan Stanley dropped their price target on Alnylam Pharmaceuticals from $184.00 to $176.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 13th. Piper Sandler upped their price target on Alnylam Pharmaceuticals from $210.00 to $217.00 and gave the stock an “overweight” rating in a research note on Thursday, December 14th. Royal Bank of Canada reiterated an “outperform” rating and set a $235.00 target price on shares of Alnylam Pharmaceuticals in a research report on Tuesday, February 20th. Cantor Fitzgerald reiterated a “neutral” rating and set a $165.00 target price on shares of Alnylam Pharmaceuticals in a research report on Tuesday, February 20th. Finally, William Blair reiterated an “outperform” rating on shares of Alnylam Pharmaceuticals in a research report on Monday, January 8th. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Alnylam Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $216.12.

Read Our Latest Research Report on Alnylam Pharmaceuticals

Alnylam Pharmaceuticals Company Profile

(Get Free Report)

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.

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