State of New Jersey Common Pension Fund D Reduces Position in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)

State of New Jersey Common Pension Fund D lessened its holdings in shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Free Report) by 33.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 48,458 shares of the biopharmaceutical company's stock after selling 24,801 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Alnylam Pharmaceuticals were worth $11,775,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Ashton Thomas Private Wealth LLC bought a new stake in shares of Alnylam Pharmaceuticals during the 2nd quarter valued at about $26,000. Allspring Global Investments Holdings LLC lifted its position in Alnylam Pharmaceuticals by 572.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 168 shares of the biopharmaceutical company's stock worth $25,000 after buying an additional 143 shares during the last quarter. Altitude Crest Partners Inc. bought a new stake in Alnylam Pharmaceuticals in the 1st quarter worth approximately $30,000. V Square Quantitative Management LLC bought a new stake in Alnylam Pharmaceuticals in the 4th quarter worth approximately $52,000. Finally, GAMMA Investing LLC lifted its position in Alnylam Pharmaceuticals by 97.2% in the 2nd quarter. GAMMA Investing LLC now owns 416 shares of the biopharmaceutical company's stock worth $101,000 after buying an additional 205 shares during the last quarter. Institutional investors own 92.97% of the company's stock.

Alnylam Pharmaceuticals Trading Up 1.4 %

ALNY traded up $3.54 during trading on Friday, reaching $265.27. The stock had a trading volume of 437,667 shares, compared to its average volume of 894,955. The stock's 50 day moving average is $258.53 and its two-hundred day moving average is $194.81. The company has a market capitalization of $34.06 billion, a price-to-earnings ratio of -98.98 and a beta of 0.38. Alnylam Pharmaceuticals, Inc. has a one year low of $141.98 and a one year high of $287.55.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.74) by $0.61. The firm had revenue of $659.83 million during the quarter, compared to the consensus estimate of $447.22 million. Alnylam Pharmaceuticals's revenue for the quarter was up 107.0% compared to the same quarter last year. During the same quarter last year, the company posted ($2.21) EPS. On average, equities research analysts predict that Alnylam Pharmaceuticals, Inc. will post -2.73 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Kevin Joseph Fitzgerald sold 1,198 shares of the stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $230.99, for a total value of $276,726.02. Following the sale, the executive vice president now directly owns 14,181 shares of the company's stock, valued at $3,275,669.19. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Kevin Joseph Fitzgerald sold 1,198 shares of the stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $230.99, for a total value of $276,726.02. Following the sale, the executive vice president now directly owns 14,181 shares of the company's stock, valued at $3,275,669.19. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 completion of the sale, the chief executive officer now directly owns 73,441 shares in the company, valued at $20,563,480. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 103,148 shares of company stock worth $25,658,824. 1.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ALNY has been the subject of a number of recent research reports. Morgan Stanley boosted their target price on Alnylam Pharmaceuticals from $250.00 to $255.00 and gave the stock an "equal weight" rating in a research report on Friday, July 12th. Stifel Nicolaus boosted their target price on Alnylam Pharmaceuticals from $215.00 to $295.00 and gave the stock a "buy" rating in a research report on Thursday, June 27th. Citigroup lifted their price target on Alnylam Pharmaceuticals from $291.00 to $342.00 and gave the stock a "buy" rating in a research note on Friday, August 2nd. Canaccord Genuity Group boosted their price objective on Alnylam Pharmaceuticals from $357.00 to $366.00 and gave the company a "buy" rating in a research report on Friday, August 2nd. Finally, Cantor Fitzgerald reiterated a "neutral" rating and issued a $220.00 price objective on shares of Alnylam Pharmaceuticals in a research report on Monday, September 9th. Seven investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $279.14.

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.