Alnylam Pharmaceuticals CEO Sells $1.85M Worth of Shares: What Does This Mean for Investors?
In a recent SEC filing, Yvonne Greenstreet, the Chief Executive Officer of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY), sold 7,093 shares of the company's stock at a price of $261.00 per share, totaling over $1.85 million. This sale was conducted under a pre-arranged trading plan to avoid insider trading accusations.
Despite the sale, Greenstreet still holds a significant amount of Alnylam Pharmaceuticals stock. Investors often monitor insider transactions for insights into the company's valuation and future prospects. Alnylam Pharmaceuticals focuses on RNA interference therapeutics and is publicly traded on the NASDAQ stock exchange.
Following the release of the HELIOS-B study data, analysts have adjusted their price targets for Alnylam Pharmaceuticals, with UBS, RBC Capital Markets, and H.C. Wainwright increasing their targets. Morgan Stanley also raised its price target, maintaining an Equalweight rating.
Alnylam reported Q1 2024 revenues of $365 million, driven by its Transthyretin franchise. The company aims for net product revenues between $1.4 billion and $1.5 billion for 2024. Alnylam plans to file for regulatory approval for its product, Amvuttra, and submit a supplemental New Drug Application for vutrisiran in ATTR-CM.
InvestingPro Insights reveal key metrics about Alnylam, including a market capitalization of $33.05 billion, revenue growth of 75.2%, and a robust gross profit margin of 83.95%. While the company faces profitability challenges, it has shown impressive revenue growth.
InvestingPro Tips suggest that Alnylam's stock may be overbought, but the company's liquid assets exceed its short-term obligations. Alnylam has been trading near its 52-week high, with strong returns over the last month and three months.
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In summary, Yvonne Greenstreet's stock sale, analyst price target adjustments, revenue growth, and upcoming regulatory filings provide valuable insights for investors considering Alnylam Pharmaceuticals as a potential investment opportunity.