Short Interest in Dicerna Pharmaceuticals Inc (NASDAQ:DRNA) Declines By 14.2%

Dicerna Pharmaceuticals Inc (NASDAQ:DRNA) saw a large drop in short interest in the month of November. As of November 29th, there was short interest totalling 3,630,000 shares, a drop of 14.2% from the November 14th total of 4,230,000 shares. Currently, 6.9% of the company’s shares are short sold. Based on an average daily trading volume, of 803,800 shares, the days-to-cover ratio is currently 4.5 days.

NASDAQ DRNA traded up $0.60 during mid-day trading on Thursday, hitting $26.73. The company’s stock had a trading volume of 522,358 shares, compared to its average volume of 553,868. The company’s 50 day simple moving average is $21.06 and its 200 day simple moving average is $16.02. Dicerna Pharmaceuticals has a twelve month low of $9.31 and a twelve month high of $27.40. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of -22.28 and a beta of 2.39.

Dicerna Pharmaceuticals (NASDAQ:DRNA) last posted its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.15). The business 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, analysts predict that Dicerna Pharmaceuticals will post -1.28 earnings per share for the current fiscal year.

In related news, COO James B. Weissman sold 15,000 shares of Dicerna Pharmaceuticals stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $18.00, for a total value of $270,000.00. Following the completion of the sale, the chief operating officer now owns 29,704 shares of the company’s stock, valued at approximately $534,672. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO John B. Green sold 3,562 shares of Dicerna Pharmaceuticals stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $20.00, for a total transaction of $71,240.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,119,826 shares of company stock valued at $120,014,979. Insiders own 21.28% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of DRNA. Zurcher Kantonalbank Zurich Cantonalbank boosted 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 acquiring an additional 1,151 shares during the last quarter. Quantamental Technologies LLC boosted its holdings in Dicerna Pharmaceuticals by 94.4% during the 2nd quarter. Quantamental Technologies LLC now owns 3,500 shares of the biopharmaceutical company’s stock worth $55,000 after acquiring an additional 1,700 shares during the last quarter. Bank of Montreal Can purchased a new position in Dicerna Pharmaceuticals during the 2nd quarter worth $68,000. Athanor Capital LP purchased a new position in Dicerna Pharmaceuticals during the 2nd quarter worth $233,000. Finally, Metropolitan Life Insurance Co NY boosted its holdings in Dicerna Pharmaceuticals by 5.1% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 18,110 shares of the biopharmaceutical company’s stock worth $260,000 after acquiring an additional 879 shares during the last quarter. 84.77% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts recently issued reports on the stock. ValuEngine downgraded shares of Dicerna Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. HC Wainwright reissued a “buy” rating and issued a $30.00 price target (up previously from $22.00) on shares of Dicerna Pharmaceuticals in a research report on Tuesday, November 19th. SunTrust Banks lifted their price target on shares of Dicerna Pharmaceuticals from $20.00 to $24.00 and gave the company a “buy” rating in a research report on Monday, November 18th. Leerink Swann reissued an “outperform” rating and issued a $30.00 price target (up previously from $26.00) on shares of Dicerna Pharmaceuticals in a research report on Tuesday, November 19th. Finally, BidaskClub raised shares of Dicerna Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 9th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $27.38.

Dicerna Pharmaceuticals Company Profile

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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