Principal Financial Group Inc. Reduces Holdings in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)

Principal Financial Group Inc. decreased its stake in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) by 2.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,378 shares of the biopharmaceutical company’s stock after selling 230 shares during the period. Principal Financial Group Inc.’s holdings in Alnylam Pharmaceuticals were worth $2,442,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Jennison Associates LLC purchased a new position in shares of Alnylam Pharmaceuticals during the fourth quarter valued at approximately $61,160,000. Strategic Financial Concepts LLC purchased a new position in shares of Alnylam Pharmaceuticals during the 4th quarter worth $41,529,000. Los Angeles Capital Management LLC boosted its holdings in shares of Alnylam Pharmaceuticals by 11,433.4% during the third quarter. Los Angeles Capital Management LLC now owns 137,017 shares of the biopharmaceutical company’s stock worth $37,684,000 after purchasing an additional 135,829 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Alnylam Pharmaceuticals by 3.0% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 286,703 shares of the biopharmaceutical company’s stock valued at $67,464,000 after purchasing an additional 8,462 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in Alnylam Pharmaceuticals by 13.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 19,918 shares of the biopharmaceutical company’s stock valued at $4,687,000 after purchasing an additional 2,285 shares during the last quarter. 92.97% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Alnylam Pharmaceuticals news, Director Phillip A. Sharp sold 11,250 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $275.00, for a total transaction of $3,093,750.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CMO Pushkal Garg sold 52,592 shares of Alnylam Pharmaceuticals stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $285.00, for a total value of $14,988,720.00. Following the completion of the transaction, the chief marketing officer now owns 11,989 shares of the company’s stock, valued at approximately $3,416,865. The trade was a 81.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 72,986 shares of company stock worth $20,397,849 in the last three months. 1.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Wolfe Research lowered Alnylam Pharmaceuticals from a “peer perform” rating to an “underperform” rating in a research note on Tuesday, November 12th. Canaccord Genuity Group raised their target price on shares of Alnylam Pharmaceuticals from $384.00 to $385.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Piper Sandler reaffirmed an “overweight” rating and set a $296.00 price target on shares of Alnylam Pharmaceuticals in a research report on Monday, November 18th. StockNews.com lowered shares of Alnylam Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, January 9th. Finally, Needham & Company LLC reissued a “buy” rating and set a $320.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Wednesday, February 26th. One analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $304.26.

Alnylam Pharmaceuticals Price Performance

ALNY opened at $249.23 on Thursday. Alnylam Pharmaceuticals, Inc. has a twelve month low of $141.98 and a twelve month high of $304.39. The firm has a market cap of $32.26 billion, a price-to-earnings ratio of -114.85 and a beta of 0.35. The company has a current ratio of 2.78, a quick ratio of 2.71 and a debt-to-equity ratio of 15.27. The company has a fifty day simple moving average of $254.34 and a 200 day simple moving average of $261.90.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its earnings results on Thursday, February 13th. The biopharmaceutical company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.03). Equities research analysts expect that Alnylam Pharmaceuticals, Inc. will post -1.7 EPS for the current fiscal year.

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.