Should You Add Alnylam Pharmaceuticals (ALNY) to Your Portfolio?
ClearBridge Investments, an investment management company, released its “ClearBridge Select Strategy” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. The strategy outperformed its benchmark, the Russell 3000 Index, in the fourth quarter. On an absolute basis, the strategy gained across nine of the 10 sectors in which it was invested. Industrials, consumer staples, and healthcare sectors were the leading contributors while the IT sector detracted from performance. In addition, please check the fund’s top five holdings to know its best picks in 2022.
ClearBridge Select Strategy highlighted stocks like Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) in the Q4 2022 investor letter. Headquartered in Cambridge, Massachusetts, Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) is a biopharmaceutical company. On February 22, 2023, Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) stock closed at $201.10 per share. One-month return of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) was -12.19%, and its shares gained 36.37% of their value over the last 52 weeks. Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) has a market capitalization of $24.741 billion.
ClearBridge Select Strategy made the following comment about Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) in its Q4 2022 investor letter:
“Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY), a biotech that develops RNA therapies to target and turn off certain proteins in the body, has a number of drugs in market whose revenues are expected to end the excessive cash burn that has plagued the company’s shares. As more drugs are launched and pipeline investments are more focused under new leadership, we believe the company will be an increasingly attractive asset.”
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Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 35 hedge fund portfolios held Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) at the end of the fourth quarter which was 55 in the previous quarter.
We discussed Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) in another article and shared the list of best genomics stocks to buy. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
