Alberta Investment Management Corp Acquires Stake in Alnylam Pharmaceuticals

Alberta Investment Management Corp has acquired a significant stake in Alnylam Pharmaceuticals, Inc. by purchasing 11,700 shares during the third quarter of 2023. This investment, valued at approximately $5.3 million, was disclosed in the fund’s latest Form 13F filing with the Securities and Exchange Commission (SEC).

Other investment firms have also adjusted their positions in Alnylam Pharmaceuticals recently. For instance, Root Financial Partners LLC entered a new stake valued at around $25,000, while Salomon & Ludwin LLC invested approximately $27,000. Atlantic Union Bankshares Corp made a new investment of $30,000 in the second quarter. Notably, ORG Partners LLC increased its holdings by 70.2% during the third quarter, now owning 80 shares worth about $36,000. Overall, institutional investors and hedge funds collectively hold 92.97% of Alnylam’s stock.

As of Thursday, shares of Alnylam Pharmaceuticals opened at $332.68, with a market capitalization of approximately $44.12 billion. The company has a P/E ratio of 194.55 and a beta of 0.35. Its debt-to-equity ratio stands at 1.28, while the quick and current ratios are 2.71 and 2.76, respectively. The stock has fluctuated significantly, reaching a low of $205.87 and a high of $495.55 over the past year.

Executive Transactions and Insider Activity

In related news, there have been notable insider transactions at Alnylam Pharmaceuticals. On February 13, Executive Vice President Tolga Tanguler sold 1,959 shares at an average price of $310.08, totaling approximately $607,446.72. Following this sale, Tanguler’s remaining shares are valued at about $9.85 million, representing a 5.81% decrease in ownership.

Additionally, on January 13, another Executive Vice President, Kevin Joseph Fitzgerald, sold 2,290 shares for around $848,055.70, following which he held 21,264 shares valued at approximately $7.87 million, marking a 9.72% decrease in his stake. Over the last ninety days, insiders have sold 36,578 shares worth approximately $12.42 million, while insiders currently own 1.50% of the company’s stock.

Analyst Ratings and Market Outlook

Several equity analysts have recently evaluated Alnylam Pharmaceuticals, providing insights and price targets. Piper Sandler reaffirmed an “overweight” rating, increasing the target price to $489.00 from $449.00. In contrast, Needham & Company LLC adjusted their price target down to $510.00 from $529.00, while Morgan Stanley lowered their target to $408.00. Jefferies Financial Group also adjusted their target slightly down to $549.00 from $550.00.

Overall, twenty-two analysts have rated Alnylam Pharmaceuticals with a “Buy” rating, while five have given it a “Hold” rating. According to MarketBeat, the company has a consensus rating of “Moderate Buy” with a price target of $477.96.

Alnylam Pharmaceuticals specializes in the development and commercialization of RNA interference (RNAi) therapeutics, aimed at silencing disease-causing genes. The company has successfully advanced multiple RNAi-based products, using innovative delivery methods to target genetic drivers of various conditions.