CAMBRIDGE, MA—Kevin Joseph Fitzgerald, the Chief Scientific Officer and Executive Vice President, Head of Research at Alnylam Pharmaceuticals , Inc. (NASDAQ:ALNY), recently sold a significant portion of his holdings in the company. According to a Form 4 filing with the Securities and Exchange Commission, Fitzgerald sold shares totaling approximately $754,945 across multiple transactions.
On November 26, Fitzgerald sold shares amounting to $368,685, with prices ranging from $247.77 to $252.27 per share. The following day, November 27, he continued his sales, disposing of additional shares for a total of $386,260, priced between $250.45 and $254.48 per share. These sales were conducted under a pre-established Rule 10b5-1 trading plan.
The transactions reflect a strategic move by Fitzgerald to manage his stock holdings in Alnylam, a leading biopharmaceutical company focused on RNA interference (RNAi) therapeutics. Despite these sales, Fitzgerald maintains a substantial stake in the company, with 12,881 shares directly owned following the transactions.
Alnylam Pharmaceuticals continues to be a key player in the life sciences industry, with ongoing developments in RNAi-based treatments. Investors and analysts will be watching closely for any further insider activity or announcements from the company.
In other recent news, Alnylam Pharmaceuticals has been making significant strides in its operations and product pipeline. The company reported a notable 34% year-over-year increase in global net product revenue, totaling $420 million, largely driven by its transthyretin amyloidosis treatments. The FDA recently approved Alnylam's drug, Attruby, and 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. Canaccord Genuity and BMO Capital maintained their Buy and Outperform ratings respectively, expressing confidence in the company's drug development trajectory, while Wolfe Research downgraded Alnylam's stock from Peer Perform to Underperform due to long-term value concerns.
H.C. Wainwright and TD Cowen also maintained their Buy ratings on Alnylam, highlighting the company's strong financials and promising interim Phase 1b results for the company's drug nucresiran. Despite the recent downgrade from Wolfe Research, these developments highlight the company's ongoing efforts to innovate and expand its product pipeline.
Lastly, Alnylam has ceased the ALN-KHK program for type 2 diabetes but remains open to business development opportunities. These are among the recent developments at Alnylam Pharmaceuticals.
InvestingPro Insights
To provide additional context to Kevin Joseph Fitzgerald's recent stock sales, it's worth examining some key financial metrics and insights from InvestingPro for Alnylam Pharmaceuticals (NASDAQ:ALNY).
According to InvestingPro data, Alnylam boasts a substantial market capitalization of $32.74 billion, reflecting its significant presence in the biopharmaceutical sector. The company has demonstrated strong revenue growth, with a 21.54% increase in the last twelve months as of Q3 2023, reaching $2.09 billion. This growth trajectory aligns with Alnylam's position as a leader in RNA interference therapeutics.
An InvestingPro Tip highlights that Alnylam has seen a high return over the last year, with the stock price showing a total return of 59.14% over the past 12 months. This impressive performance may have influenced Fitzgerald's decision to realize some gains through his recent stock sales.
Another relevant InvestingPro Tip indicates that Alnylam operates with a moderate level of debt, which could be seen as a positive factor for long-term stability. This financial prudence may contribute to investor confidence in the company's future prospects.
It's worth noting that InvestingPro offers 7 additional tips for Alnylam Pharmaceuticals, providing investors with a more comprehensive analysis of the company's financial health and market position.
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