Principal Financial Group Inc. Has $2.92 Million Holdings in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)

Principal Financial Group Inc. trimmed its holdings in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report) by 25.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,608 shares of the biopharmaceutical company's stock after selling 3,581 shares during the period. Principal Financial Group Inc.'s holdings in Alnylam Pharmaceuticals were worth $2,918,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ashton Thomas Private Wealth LLC acquired a new stake in Alnylam Pharmaceuticals in the second quarter worth approximately $26,000. Huntington National Bank raised its stake in shares of Alnylam Pharmaceuticals by 91.8% in the 3rd quarter. Huntington National Bank now owns 94 shares of the biopharmaceutical company's stock worth $26,000 after buying an additional 45 shares in the last quarter. Hollencrest Capital Management acquired a new stake in shares of Alnylam Pharmaceuticals in the third quarter valued at $29,000. Washington Trust Advisors Inc. acquired a new stake in shares of Alnylam Pharmaceuticals in the third quarter valued at $42,000. Finally, True Wealth Design LLC boosted its stake in Alnylam Pharmaceuticals by 15,300.0% during the third quarter. True Wealth Design LLC now owns 154 shares of the biopharmaceutical company's stock valued at $42,000 after buying an additional 153 shares in the last quarter. 92.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ALNY shares. Chardan Capital reissued a "buy" rating and issued a $300.00 price target on shares of Alnylam Pharmaceuticals in a report on Friday, November 1st. William Blair restated an "outperform" rating on shares of Alnylam Pharmaceuticals in a report on Tuesday, November 19th. TD Cowen lifted their price target on shares of Alnylam Pharmaceuticals from $282.00 to $371.00 and gave the stock a "buy" rating in a research report on Monday, October 21st. Scotiabank lifted their price target on Alnylam Pharmaceuticals from $305.00 to $310.00 and gave the stock a "sector outperform" rating in a research note on Friday, November 1st. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $296.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Monday, November 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nineteen have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $298.09.

Alnylam Pharmaceuticals Stock Up 0.3 %

Shares of Alnylam Pharmaceuticals stock traded up $0.66 during midday trading on Friday, reaching $234.28. 411,197 shares of the company's stock traded hands, compared to its average volume of 401,949. The company has a debt-to-equity ratio of 31.64, a quick ratio of 2.69 and a current ratio of 2.75. Alnylam Pharmaceuticals, Inc. has a 52 week low of $141.98 and a 52 week high of $304.39. The company's 50 day simple moving average is $252.99 and its 200 day simple moving average is $257.91. The company has a market cap of $30.22 billion, a price-to-earnings ratio of -89.42 and a beta of 0.34.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($0.87) earnings per share for the quarter, missing analysts' consensus estimates of ($0.51) by ($0.36). The business had revenue of $500.90 million during the quarter, compared to the consensus estimate of $532.91 million. Alnylam Pharmaceuticals's revenue was down 33.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.15 earnings per share. Equities analysts expect that Alnylam Pharmaceuticals, Inc. will post -2.21 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Yvonne Greenstreet sold 5,219 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $250.98, for a total transaction of $1,309,864.62. Following the completion of the sale, the chief executive officer now owns 78,880 shares in the company, valued at $19,797,302.40. This represents a 6.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CMO Pushkal Garg sold 1,752 shares of the firm's stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $251.00, for a total value of $439,752.00. Following the completion of the sale, the chief marketing officer now directly owns 15,705 shares in the company, valued at $3,941,955. This trade represents a 10.04 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,122 shares of company stock worth $2,540,455. 1.50% of the stock is currently owned by insiders.

Alnylam Pharmaceuticals 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.