Yvonne Greenstreet, the CEO of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY), recently sold $4.2 million worth of shares in the company. The transaction took place on August 20, 2024, with Greenstreet selling 15,000 shares at an average price of $280.00 per share.
This sale was part of a prearranged trading plan under Rule 10b5-1(c), allowing insiders to trade securities without possessing material non-public information. Greenstreet adopted this plan on March 12, 2024.
On the same day, Greenstreet also acquired 15,000 shares of Alnylam Pharmaceuticals' common stock at $85.00 per share, totaling $1.275 million. This acquisition was made through an option exercise that was fully vested and exercisable as of February 28, 2023.
After these transactions, Greenstreet now owns 73,441 shares of common stock directly in the company. Additionally, she has an indirect ownership of 407 shares through a managed account as part of the issuer's 401(k) plan matching contribution program.
Insider transactions like these can provide insights into executives' views on the company's future. However, transactions under Rule 10b5-1(c) plans are scheduled in advance to comply with insider trading laws.
These transactions were disclosed in a Form 4 filing with the Securities and Exchange Commission.
Alnylam Pharmaceuticals has also seen positive developments recently, with upgrades from Goldman Sachs and positive outlooks from BMO Capital Markets and RBC Capital Markets. The company's financial performance has been strong, reporting a 34% year-over-year increase in global net product revenues.
Alnylam has updated its 2024 revenue guidance, expecting product revenues to be between $1.575 billion and $1.65 billion. The company's promising clinical results, particularly from the HELIOS-B Phase 3 study of vutrisiran, indicate a bright future for its ongoing initiatives and growth.
InvestingPro Insights
According to InvestingPro data, Alnylam Pharmaceuticals has a robust gross profit margin of 87.0%. This indicates the company's effective cost management and ability to retain a significant portion of its revenue as gross profit.
Despite strong margins, Alnylam is currently not profitable, with a deeply negative Price-to-Earnings (P/E) Ratio of -476.32. Analysts do not expect the company to be profitable this year, but its liquidity position is strong.
InvestingPro Tips for Alnylam suggest that the company operates with moderate debt levels and has shown strong returns over various timeframes. However, it is trading at a high EBITDA valuation multiple, indicating high growth expectations.
Alnylam's stock performance has been positive, with a 75.92% total return over the last six months. The CEO's recent share sale at $280.00 per share aligns with the stock trading near its 52-week high.
For more insights and detailed metrics on Alnylam Pharmaceuticals, visit InvestingPro.
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