Miss ALNY's $20.13 Secondary But Think It's A Buy At $20?

Looking back to 157 days ago, Alnylam Pharmaceuticals Inc (NASD: ALNY) priced a 8,000,000 share secondary stock offering at $20.13 per share. Buyers in that offering made a considerable investment into the company, expecting that their investment would go up over the course of time and based on early trading on Friday, the stock is now 40.9% above the offering price.