Focus Partners Expands Stake in Alnylam Pharmaceuticals by 533%

Focus Partners Advisor Solutions LLC has significantly increased its investment in Alnylam Pharmaceuticals, Inc. (NASDAQ: ALNY) by an impressive 533% during the third quarter of 2023. According to the firm’s recent filing with the Securities and Exchange Commission (SEC), Focus Partners now owns 5,127 shares of the biopharmaceutical company, up from 4,317 shares acquired throughout the quarter. These holdings are valued at approximately $2,282,000 as of the end of the reporting period.

Several other institutional investors and hedge funds have also adjusted their stakes in Alnylam recently. For instance, Root Financial Partners LLC entered a new position worth $25,000 in the third quarter, while Salomon & Ludwin LLC followed suit with an investment of about $27,000. Additionally, Atlantic Union Bankshares Corp made a new investment valued at roughly $30,000 during the second quarter. Notably, ORG Partners LLC increased its stake by a substantial 70.2%, bringing its total to 80 shares worth $36,000 after acquiring an additional 33 shares. Overall, institutional investors and hedge funds now own 92.97% of Alnylam’s stock.

Recent Earnings Report and Insider Trading Activity

Alnylam Pharmaceuticals experienced a 2.7% increase in its stock price recently, following the release of its latest earnings report on February 12, 2024. The company reported earnings per share (EPS) of $1.25, which fell short of analysts’ expectations of $1.43 by $0.18. Despite this, Alnylam reported a 69.02% return on equity and a net margin of 6.43%. The firm’s revenue for the quarter reached $1.10 billion, slightly below the forecasted $1.16 billion. In the same period last year, Alnylam posted a loss of ($0.65) EPS, marking an 84.9% year-over-year revenue growth.

In addition to the earnings report, insider trading activity has been notable. Tolga Tanguler, Executive Vice President, sold 1,598 shares on March 2, 2024, at an average price of $327.65, totaling around $523,584.70. Following this transaction, Tanguler holds 36,606 shares valued at approximately $11,993,955.90, reflecting a 4.18% decrease in their position. Another executive, Kevin Joseph Fitzgerald, sold 1,652 shares on March 3, 2024, for a total of $528,193.96. This sale led to a 7.03% reduction in Fitzgerald’s ownership, now totaling 21,860 shares valued at $6,989,297.80. Over the last three months, insiders have sold a total of 53,923 shares worth approximately $18,072,087.

Analysts’ Perspectives and Company Overview

Market analysts are closely monitoring Alnylam’s performance, with several adjusting their price targets. Truist Financial revised its target from $535.00 to $530.00 while maintaining a “buy” rating. Meanwhile, Oppenheimer initiated coverage with an “outperform” rating and a target of $500.00. In contrast, Wall Street Zen downgraded their rating from “strong-buy” to “buy,” and Weiss Ratings upgraded Alnylam from a “sell (d-)” to a “hold (c-)” rating. The average rating among analysts is currently considered a “Moderate Buy,” with an average target price of $477.96.

Alnylam Pharmaceuticals, founded to harness the potential of RNA interference (RNAi), focuses on the discovery, development, and commercialization of innovative therapeutics. It employs small interfering RNA (siRNA) technology to silence genes that cause diseases. The company has successfully advanced multiple siRNA-based products toward commercialization, using lipid nanoparticle delivery and recent advancements in GalNAc-conjugate chemistry for targeted liver delivery.

This significant increase in investment and the recent performance of Alnylam Pharmaceuticals illustrate the growing interest in RNAi therapeutics and the potential for future growth within the biopharmaceutical sector.