Yvonne Greenstreet, the Chief Executive Officer of Alnylam Pharmaceuticals Inc. (NASDAQ:ALNY), recently executed a series of stock transactions, according to a Form 4 filing with the SEC. On November 26, Greenstreet sold a total of 5,219 shares of Alnylam common stock, generating proceeds of approximately $1.31 million. The shares were sold at prices ranging from $247.77 to $252.27 per share.
Earlier, on November 25, Greenstreet acquired 10,658 shares of Alnylam common stock at no cost, resulting from the vesting of performance-based stock units. These shares increased her direct ownership to 84,099 shares prior to the subsequent sales.
The sales executed on November 26 were part of a mandatory sell-to-cover provision to meet statutory tax withholding obligations related to the vesting of restricted stock units. Following these transactions, Greenstreet holds 78,880 shares directly and an additional 407 shares indirectly through a managed account.
In other recent news, Alnylam Pharmaceuticals has seen significant developments in its operations and product pipeline. The company reported a substantial 34% year-over-year increase in global net product revenue, totaling $420 million, primarily driven by its transthyretin amyloidosis treatments. The U.S. Food and Drug Administration is currently reviewing Alnylam's supplemental New Drug Application for vutrisiran, a potential treatment for ATTR amyloidosis with cardiomyopathy.
Analyst firms have varied opinions on Alnylam. While H.C. Wainwright and TD Cowen maintained their Buy ratings, expressing confidence in the company's drug development trajectory, Wolfe Research downgraded Alnylam's stock from Peer Perform to Underperform due to long-term value concerns. Canaccord Genuity and BMO Capital maintained their Buy and Outperform ratings respectively, reflecting a positive outlook on Alnylam's position within the market.
Alnylam has also ceased the ALN-KHK program for type 2 diabetes but remains open to business development opportunities. The company continues to advance its pipeline, notably in treatments for Alzheimer's and Huntington's diseases, aiming to double its clinical development pipeline by the end of 2025. These are among the recent developments at Alnylam Pharmaceuticals.
InvestingPro Insights
Alnylam Pharmaceuticals Inc. (NASDAQ:ALNY) has been experiencing significant growth and market attention, as reflected in the recent insider transactions by CEO Yvonne Greenstreet. To provide additional context to these developments, let's examine some key financial metrics and insights from InvestingPro.
As of the latest data, Alnylam boasts a substantial market capitalization of $32.74 billion, indicating its significant presence in the biotechnology sector. The company's revenue for the last twelve months as of Q3 2024 stood at $2.09 billion, with an impressive revenue growth of 21.54% over the same period. This growth trajectory aligns with the company's expanding product portfolio and market penetration.
InvestingPro Tips highlight that Alnylam has seen a strong return over the last year, with a one-year price total return of 59.14%. This performance is particularly noteworthy given the broader market conditions and reflects investor confidence in the company's prospects. Additionally, the tip indicating that liquid assets exceed short-term obligations suggests a solid financial position, which is crucial for a biotechnology company investing heavily in research and development.
However, it's important to note that Alnylam is not currently profitable, as indicated by another InvestingPro Tip. This is not uncommon for biotechnology companies in their growth phase, especially those with significant ongoing research and development expenses. The company's P/E ratio of -98.88 for the last twelve months as of Q3 2024 further underscores this point.
For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and insights. There are 5 more InvestingPro Tips available for Alnylam Pharmaceuticals, which could provide valuable perspective on the company's financial health and future prospects.
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