Is Alnylam Pharmaceuticals, Inc. (ALNY) A Good Stock To Buy Right Now?

Judging by the fact that Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) has experienced falling interest from the smart money, it’s safe to say that there was a specific group of funds that decided to sell off their full holdings last quarter. At the top of the heap, James E. Flynn’s Deerfield Management dropped the largest stake of the “upper crust” of funds monitored by Insider Monkey, valued at close to $18.6 million in stock. Paul Marshall and Ian Wace’s fund, Marshall Wace LLP, also sold off its stock, about $1.9 million worth. These moves are interesting, as total hedge fund interest stayed the same (this is a bearish signal in our experience).

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) but similarly valued. These stocks are Envision Healthcare Holdings Inc (NYSE:EVHC), WellCare Health Plans, Inc. (NYSE:WCG), Patterson Companies, Inc. (NASDAQ:PDCO), and Phillips 66 Partners LP (NYSE:PSXP). This group of stocks’ market values are closest to ALNY’s market value.

As you can see these stocks had an average of 23 hedge funds with bullish positions and the average amount invested in these stocks was $400 million. That figure was $389 million in ALNY’s case. Envision Healthcare Holdings Inc (NYSE:EVHC) is the most popular stock in this table. On the other hand Phillips 66 Partners LP (NYSE:PSXP) is the least popular one with only 8 bullish hedge fund positions. Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard EVHC might be a better candidate to consider taking a long position in.