Dicerna Pharmaceuticals (NASDAQ:DRNA) Sees Unusually-High Trading Volume

Shares of Dicerna Pharmaceuticals Inc (NASDAQ:DRNA) saw unusually-high trading volume on Tuesday . Approximately 60,147 shares changed hands during mid-day trading, a decline of 95% from the previous session’s volume of 1,214,384 shares.The stock last traded at $25.12 and had previously closed at $26.48.

A number of brokerages recently commented on DRNA. ValuEngine lowered Dicerna Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday. Zacks Investment Research upgraded shares of Dicerna Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, November 5th. SunTrust Banks raised their target price on shares of Dicerna Pharmaceuticals from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Leerink Swann reiterated an “outperform” rating and set a $30.00 price target (up previously from $26.00) on shares of Dicerna Pharmaceuticals in a research report on Tuesday, November 19th. Finally, HC Wainwright reissued a “buy” rating and set a $30.00 price target (up from $22.00) on shares of Dicerna Pharmaceuticals in a research note on Tuesday, November 19th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $27.38.

The firm has a market capitalization of $1.73 billion, a P/E ratio of -21.15 and a beta of 2.38. The company has a 50-day moving average price of $18.93 and a 200-day moving average price of $15.30.

Dicerna Pharmaceuticals (NASDAQ:DRNA) last announced its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.15). The firm had revenue of $8.04 million during the quarter, compared to analyst estimates of $11.70 million. Dicerna Pharmaceuticals had a negative net margin of 541.24% and a negative return on equity of 58.92%. On average, equities analysts predict that Dicerna Pharmaceuticals Inc will post -1.28 EPS for the current fiscal year.

In other Dicerna Pharmaceuticals news, Director Peter Kolchinsky sold 397,183 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $23.92, for a total transaction of $9,500,617.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Bain Capital Life Sciences Inv sold 1,750,000 shares of Dicerna Pharmaceuticals stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $22.03, for a total transaction of $38,552,500.00. The disclosure for this sale can be found here. Insiders sold a total of 3,599,826 shares of company stock worth $82,474,979 in the last three months. Company insiders own 21.28% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in DRNA. Metropolitan Life Insurance Co NY raised its stake in Dicerna Pharmaceuticals by 5.1% in the third quarter. Metropolitan Life Insurance Co NY now owns 18,110 shares of the biopharmaceutical company’s stock valued at $260,000 after purchasing an additional 879 shares in the last quarter. California State Teachers Retirement System increased its stake in shares of Dicerna Pharmaceuticals by 1.2% in the third quarter. California State Teachers Retirement System now owns 80,679 shares of the biopharmaceutical company’s stock valued at $1,159,000 after buying an additional 964 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Dicerna Pharmaceuticals by 52.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,363 shares of the biopharmaceutical company’s stock worth $48,000 after purchasing an additional 1,151 shares during the last quarter. Quantamental Technologies LLC boosted its position in Dicerna Pharmaceuticals by 94.4% during the second quarter. Quantamental Technologies LLC now owns 3,500 shares of the biopharmaceutical company’s stock valued at $55,000 after acquiring an additional 1,700 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its position in shares of Dicerna Pharmaceuticals by 7.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 28,161 shares of the biopharmaceutical company’s stock valued at $444,000 after purchasing an additional 1,871 shares in the last quarter. Institutional investors and hedge funds own 84.77% of the company’s stock.

About Dicerna Pharmaceuticals (NASDAQ:DRNA)

Dicerna Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the discovery and development of ribonucleic acid interference (RNAi)-based pharmaceuticals. The company develops pharmaceuticals using its GalXC RNAi platform for the treatment of diseases involving the liver, including rare diseases, viral infectious diseases, chronic liver diseases, and cardiovascular diseases.

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