BlackRock Cuts Alkermes Stake to 6.4% as of Dec 31, 2023
Ticker: ALKS · Form: SC 13G/A · Filed: 2024-01-08T00:00:00.000Z
Sentiment: mixed
Topics: institutional-ownership, stake-change, amendment, pharmaceuticals
TL;DR
**BlackRock trimmed its Alkermes stake to 6.4%, watch for potential ripple effects.**
AI Summary
BlackRock Inc. filed an amended Schedule 13G/A on January 8, 2024, indicating a change in its ownership stake in Alkermes plc. As of December 31, 2023, BlackRock now beneficially owns 10,750,772 shares of Alkermes' Common Stock, representing 6.4% of the company. This is a decrease from their previous reported ownership, signaling that BlackRock has sold a portion of its shares. This matters to investors because a major institutional investor like BlackRock reducing its stake could be interpreted as a slight loss of confidence in Alkermes' future performance, potentially influencing other investors' decisions.
Why It Matters
A decrease in BlackRock's ownership suggests they've sold shares, which could signal a shift in their investment strategy or outlook for Alkermes plc.
Risk Assessment
Risk Level: medium — While not a massive sell-off, a large institutional investor reducing its stake can sometimes precede further price volatility or indicate underlying concerns.
Analyst Insight
A smart investor would monitor Alkermes plc's stock performance and news for any further institutional selling or company-specific developments that might explain BlackRock's reduced stake. This filing alone isn't a strong sell signal, but it warrants further investigation.
Key Numbers
- 10,750,772 — Shares owned by BlackRock (This is the total number of Alkermes plc Common Stock shares BlackRock Inc. beneficially owns as of December 31, 2023.)
- 6.4% — Percentage of class owned (This represents BlackRock Inc.'s total voting power in Alkermes plc, indicating a decrease from previous filings.)
- December 31, 2023 — Reporting date (This is the specific date for which the ownership data is being reported, showing BlackRock's position at year-end.)
Key Players & Entities
- BlackRock Inc. (company) — the institutional investor filing the SC 13G/A
- Alkermes plc. (company) — the subject company whose shares are being reported
- 10,750,772 (dollar_amount) — number of shares beneficially owned by BlackRock
- 6.4% (dollar_amount) — percentage of Alkermes' Common Stock owned by BlackRock
- December 31, 2023 (date) — the date of the event requiring the filing
- January 8, 2024 (date) — the filing date of the SC 13G/A
Forward-Looking Statements
- Alkermes plc's stock price may experience minor downward pressure or increased volatility in the short term. (Alkermes plc) — medium confidence, target: February 8, 2024
- Other institutional investors might review their positions in Alkermes plc following BlackRock's reduction. (Institutional Investors) — low confidence, target: March 31, 2024
FAQ
What is the primary purpose of this SC 13G/A filing by BlackRock Inc. regarding Alkermes plc?
The primary purpose of this SC 13G/A filing is to amend BlackRock Inc.'s previous Schedule 13G filing, reporting a change in their beneficial ownership of Alkermes plc's Common Stock as of December 31, 2023.
How many shares of Alkermes plc Common Stock does BlackRock Inc. beneficially own as reported in this filing?
As of December 31, 2023, BlackRock Inc. beneficially owns 10,750,772 shares of Alkermes plc Common Stock, as stated in the filing.
What percentage of Alkermes plc's Common Stock does BlackRock Inc. now own, according to this amendment?
BlackRock Inc. now beneficially owns 6.4% of Alkermes plc's Common Stock, as reported in the 'Percentage of class so owned' section of the filing.
What was the 'Date of Event Which Requires Filing of this Statement' for this SC 13G/A?
The 'Date of Event Which Requires Filing of this Statement' was December 31, 2023, as explicitly stated in the filing.
Under which rule of the Securities Exchange Act of 1934 is this Schedule 13G filed?
This Schedule 13G is filed under Rule 13d-1(b) of the Securities Exchange Act of 1934, as indicated by the 'X' in the appropriate box on the cover page.
From the Filing
EDGAR Filing Documents for 0001086364-24-000170 This page uses Javascript. Your browser either doesn't support Javascript or you have it turned off. To see this page as it is meant to appear please use a Javascript enabled browser. SEC.gov EDGAR Latest Filings Filings search tools Filing Detail SEC Home Company Search Current Page Form SC 13G/A - Statement of Beneficial Ownership by Certain Investors: [Amend] SEC Accession No. 0001086364-24-000170 Filing Date 2024-01-08 Accepted 2024-01-08 16:35:39 Documents 1 Document Format Files Seq Description Document Type Size 1 ie00b56gvs15_010824.txt SC 13G/A 11801 Complete submission text file 0001086364-24-000170.txt 13799 Mailing Address 50 HUDSON YARDS NEW YORK NY 10001 Business Address 50 HUDSON YARDS NEW YORK NY 10001 212-810-5300 BlackRock Inc. (Filed by) CIK : 0001364742 (see all company filings) EIN. : 320174431 | State of Incorp.: DE | Fiscal Year End: 1231 Type: SC 13G/A SIC : 6211 Security Brokers, Dealers & Flotation Companies (CF Office: 02 Finance) Mailing Address CONNAUGHT HOUSE 1 BURLINGTON ROAD DUBLIN 4 L2 00000 Business Address CONNAUGHT HOUSE 1 BURLINGTON ROAD DUBLIN 4 L2 00000 00-353-1-772-8000 Alkermes plc. (Subject) CIK : 0001520262 (see all company filings) EIN. : 981007018 | Fiscal Year End: 1231 Type: SC 13G/A | Act: 34 | File No.: 005-86627 | Film No.: 24520622 SIC : 2834 Pharmaceutical Preparations (CF Office: 03 Life Sciences)