The Medicines Company (MDCO) and Alnylam Pharmaceuticals Inc. (ALNY)’s Positive Phase I Results Support Hedge Funds’ Confidence in These Companies

With all of this in mind, let’s now take a quick look at the smart money activity encompassing The Medicines Company (NASDAQ:MDCO) and Alnylam Pharmaceuticals Inc. (NASDAQ:ALNY). There were 20 hedge funds tracked by Insider Monkey bullish on The Medicines Company at the end of the second quarter, eight less than in the prior quarter. However, the value of the stakes held by these funds inched up to $465.26 million from $448.51 million during the quarter. Moreover, at the end of June, investors from our database held almost 25% of the company’s outstanding stock.

Keith Meister’s Corvex Capital represents the largest shareholder in The Medicines Company (NASDAQ:MDCO) within our database, holding nearly 3.09 million shares. In addition, Christopher Medlock James’ Partner Fund Management added a 1.30 million-share position in The Medicines Company during the second quarter.

Moving on to Alnylam, in which a total of 33 funds owned stakes with an aggregate value of $657.18 million at the end of the latest quarter, compared to 30 ‘hedgies’ holding $585.65 million worth of stock registered a quarter earlier. Contrary to The Medicines Company, these investors’ stakes account for less than 5% of Alnylam. Among them,  John Griffin’s Blue Ridge Capital is the largest shareholder of Alnylam with nearly 1.08 million shares, followed by David Greenspan’s Slate Path Capital, which owns 681,759 shares, according to its latest 13F.

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