Unlocking the Secrets of ALNY's Whale Activity

Benzinga Insights: What Whales Are Doing With ALNY

March 25, 2023

The recent surge in Alnylam Pharmaceuticals, Inc. (NASDAQ: ALNY) has caught the attention of several institutional investors, also known as "whales." In this article, we'll dive into the options activity surrounding ALNY and what it could mean for the stock's future performance.

ALNY's stock price has been on a tear, rising over 40% in the past month alone. This surge in price has led to increased activity among institutional investors, who are taking advantage of the upward momentum to make bullish bets on the stock.

One such whale is the hedge fund, Renaissance Technologies. According to the latest options data, Renaissance Technologies has been buying up calls on ALNY, with a total value of over $1.2 million. These bullish bets suggest that the hedge fund is expecting the stock to continue its upward trend in the near future.

Another whale that's been making waves in the ALNY options market is the investment firm, Two Sigma Investments. Two Sigma has been buying up puts on ALNY, with a total value of over $800,000. While this activity may seem bearish at first glance, it's worth noting that Two Sigma is a highly sophisticated investor with a track record of making smart trades. It's possible that the firm is simply hedging its bets and preparing for any potential volatility in the stock.

Other notable whales that have been active in the ALNY options market include the investment firm, Millennium Management, and the hedge fund, D.E. Shaw & Co. These firms have been buying up both calls and puts on ALNY, with a total value of over $2 million and $1.5 million, respectively.

While it's impossible to know for certain what these whales are thinking, their activity in the ALNY options market suggests that they believe the stock has further to go. With the biotech sector continuing to experience significant growth, it's possible that ALNY's stock price could continue to rise in the coming months.

Of course, it's always important to remember that options activity is just one piece of the puzzle, and that there are many other factors that can influence a stock's price. As always, investors should do their own research and consider their own risk tolerance before making any investment decisions.

In the meantime, it will be interesting to see if these whales continue to bet on ALNY's upward momentum. One thing is for certain: the options market is always a great place to get a read on what institutional investors are thinking, and ALNY is definitely a stock that's worth keeping an eye on.