Principal Financial Group Inc. Sells 5,167 Shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)

Principal Financial Group Inc. decreased its stake in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) by 26.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,189 shares of the biopharmaceutical company’s stock after selling 5,167 shares during the period. Principal Financial Group Inc.’s holdings in Alnylam Pharmaceuticals were worth $3,448,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ALNY. Norges Bank purchased a new stake in shares of Alnylam Pharmaceuticals in the 4th quarter valued at $390,438,000. Capital International Investors boosted its stake in shares of Alnylam Pharmaceuticals by 15.8% in the 4th quarter. Capital International Investors now owns 3,586,657 shares of the biopharmaceutical company’s stock valued at $686,641,000 after purchasing an additional 488,814 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Alnylam Pharmaceuticals by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 11,943,895 shares of the biopharmaceutical company’s stock valued at $2,286,181,000 after purchasing an additional 287,064 shares in the last quarter. Capital Research Global Investors boosted its stake in shares of Alnylam Pharmaceuticals by 7.3% in the 1st quarter. Capital Research Global Investors now owns 3,144,987 shares of the biopharmaceutical company’s stock valued at $470,018,000 after purchasing an additional 214,908 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Alnylam Pharmaceuticals by 5.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,685,753 shares of the biopharmaceutical company’s stock valued at $550,837,000 after purchasing an additional 201,784 shares in the last quarter. Institutional investors own 92.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ALNY. Raymond James upped their price objective on shares of Alnylam Pharmaceuticals from $242.00 to $275.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Bank of America increased their price target on shares of Alnylam Pharmaceuticals from $295.00 to $307.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Leerink Partners increased their price target on shares of Alnylam Pharmaceuticals from $138.00 to $159.00 and gave the company a “market perform” rating in a research report on Tuesday, June 25th. UBS Group increased their price target on shares of Alnylam Pharmaceuticals from $253.00 to $288.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Finally, TD Cowen increased their price target on shares of Alnylam Pharmaceuticals from $260.00 to $282.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. Seven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $279.14.

Alnylam Pharmaceuticals Trading Up 2.2 %

NASDAQ ALNY opened at $261.91 on Thursday. Alnylam Pharmaceuticals, Inc. has a 12 month low of $141.98 and a 12 month high of $287.55. The stock has a market cap of $33.62 billion, a P/E ratio of -97.73 and a beta of 0.38. The stock’s fifty day moving average price is $257.99 and its 200-day moving average price is $193.35.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.61. The company had revenue of $659.83 million during the quarter, compared to analysts’ expectations of $447.22 million. During the same period in the prior year, the company posted ($2.21) earnings per share. The company’s revenue was up 107.0% on a year-over-year basis. As a group, analysts forecast that Alnylam Pharmaceuticals, Inc. will post -2.78 earnings per share for the current fiscal year.

Insider Transactions at Alnylam Pharmaceuticals

In other news, CEO Yvonne Greenstreet sold 15,000 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $280.00, for a total value of $4,200,000.00. Following the sale, the chief executive officer now directly owns 73,441 shares of the company’s stock, valued at $20,563,480. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Yvonne Greenstreet sold 15,000 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was 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 directly owns 73,441 shares of the company’s stock, valued at $20,563,480. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Dennis A. Ausiello sold 20,250 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $262.00, for a total value of $5,305,500.00. Following the transaction, the director now directly owns 136 shares in the company, valued at $35,632. The disclosure for this sale can be found here. Over the last three months, insiders have sold 103,148 shares of company stock valued at $25,658,824. Insiders own 1.50% of the company’s stock.

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.