Is Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) the right investment to pursue these days? Hedge funds are taking a bullish view. The number of bullish hedge fund positions rose by 6 recently.
To the average investor, there are tons of metrics investors can use to watch stocks. Two of the most innovative are hedge fund and insider trading sentiment. At Insider Monkey, our studies have shown that, historically, those who follow the best picks of the best money managers can trounce their index-focused peers by a superb margin (see just how much).
Equally as important, optimistic insider trading activity is a second way to break down the world of equities. There are a variety of incentives for an insider to downsize shares of his or her company, but just one, very clear reason why they would behave bullishly. Several academic studies have demonstrated the useful potential of this strategy if “monkeys” understand what to do (learn more here).
Keeping this in mind, let’s take a look at the latest action encompassing Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY).
Hedge fund activity in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)
At the end of the first quarter, a total of 17 of the hedge funds we track were long in this stock, a change of 55% from the first quarter. With hedge funds’ sentiment swirling, there exists a few key hedge fund managers who were boosting their holdings considerably.
When looking at the hedgies we track, Healthcor Management LP, managed by Arthur B Cohen and Joseph Healey, holds the largest position in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY). Healthcor Management LP has a $35.3 million position in the stock, comprising 1.5% of its 13F portfolio. Sitting at the No. 2 spot is Bridger Management, managed by Roberto Mignone, which held a $33.3 million position; the fund has 2.3% of its 13F portfolio invested in the stock. Remaining hedge funds that are bullish include James E. Flynn’s Deerfield Management, Stephen DuBois’s Camber Capital Management and Steven Cohen’s SAC Capital Advisors.
Now, some big names have been driving this bullishness. Deerfield Management, managed by James E. Flynn, created the largest position in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY). Deerfield Management had 29.8 million invested in the company at the end of the quarter. Clifford G. Fox’s Columbus Circle Investors also made a $14.3 million investment in the stock during the quarter. The other funds with new positions in the stock are Brian Ashford-Russell and Tim Woolley’s Polar Capital, Joseph Edelman’s Perceptive Advisors, and David Costen Haley’s HBK Investments.
How are insiders trading Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)?
Insider purchases made by high-level executives is particularly usable when the company we’re looking at has seen transactions within the past half-year. Over the last half-year time period, Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) has seen 0 unique insiders buying, and 6 insider sales (see the details of insider trades here).
With the results shown by our research, everyday investors must always watch hedge fund and insider trading activity, and Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) is an important part of this process.