Dicerna Pharmaceuticals (DRNA) Shares Down 6.8%
Dicerna Pharmaceuticals Inc (NASDAQ:DRNA) dropped 6.8% on Thursday . The stock traded as low as $7.03 and last traded at $7.31. Approximately 1,057,045 shares traded hands during trading, an increase of 488% from the average daily volume of 179,689 shares. The stock had previously closed at $7.84.
DRNA has been the topic of several research reports. Zacks Investment Research upgraded shares of Dicerna Pharmaceuticals from a “strong sell” rating to a “buy” rating and set a $6.25 price objective on the stock in a research note on Monday, October 23rd. HC Wainwright reiterated a “buy” rating and set a $10.00 price objective (up previously from $6.00) on shares of Dicerna Pharmaceuticals in a research note on Friday, November 3rd. Finally, ValuEngine upgraded shares of Dicerna Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, November 2nd. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $6.81.
Dicerna Pharmaceuticals (NASDAQ:DRNA) last posted its earnings results on Thursday, November 2nd. The biopharmaceutical company reported ($0.92) EPS for the quarter, missing the consensus estimate of ($0.70) by ($0.22). Dicerna Pharmaceuticals had a negative return on equity of 293.25% and a negative net margin of 5,895.26%. The firm had revenue of $0.47 million during the quarter. During the same period last year, the business posted ($0.68) EPS. The company’s revenue was up 192.6% compared to the same quarter last year. research analysts predict that Dicerna Pharmaceuticals Inc will post -3.04 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Northern Trust Corp grew its position in Dicerna Pharmaceuticals by 6.1% in the 2nd quarter. Northern Trust Corp now owns 36,219 shares of the biopharmaceutical company’s stock worth $114,000 after purchasing an additional 2,094 shares during the last quarter. Birchview Capital LP grew its position in Dicerna Pharmaceuticals by 125.0% in the 3rd quarter. Birchview Capital LP now owns 45,000 shares of the biopharmaceutical company’s stock worth $259,000 after purchasing an additional 25,000 shares during the last quarter. Deschutes Portfolio Strategy LLC bought a new position in Dicerna Pharmaceuticals in the 3rd quarter worth about $575,000. Vanguard Group Inc. grew its position in Dicerna Pharmaceuticals by 4.5% in the 2nd quarter. Vanguard Group Inc. now owns 340,327 shares of the biopharmaceutical company’s stock worth $1,078,000 after purchasing an additional 14,517 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Dicerna Pharmaceuticals by 2.4% in the first quarter. Renaissance Technologies LLC now owns 418,500 shares of the biopharmaceutical company’s stock valued at $1,423,000 after acquiring an additional 9,818 shares in the last quarter. Hedge funds and other institutional investors own 54.35% of the company’s stock.
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About Dicerna Pharmaceuticals
Dicerna Pharmaceuticals, Inc is a ribonucleic acid (RNA) interference-based biopharmaceutical company. The Company operates in the segment of discovery, research and development of treatments based on its RNA interference (RNAi) technology platform. The Company is focused on the discovery and development of treatments for rare inherited diseases involving the liver and for cancers that are genetically defined.
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