Northern Trust Corp boosted its position in shares of Dicerna Pharmaceuticals Inc (NASDAQ:DRNA) by 719.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 486,668 shares of the biopharmaceutical company’s stock after buying an additional 427,284 shares during the quarter. Northern Trust Corp’s holdings in Dicerna Pharmaceuticals were worth $5,962,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DRNA. Bank of New York Mellon Corp boosted its position in Dicerna Pharmaceuticals by 288.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 160,898 shares of the biopharmaceutical company’s stock worth $1,971,000 after purchasing an additional 119,466 shares in the last quarter. California Public Employees Retirement System raised its stake in shares of Dicerna Pharmaceuticals by 39.0% during the 2nd quarter. California Public Employees Retirement System now owns 57,000 shares of the biopharmaceutical company’s stock worth $698,000 after buying an additional 16,000 shares during the period. MetLife Investment Advisors LLC acquired a new position in shares of Dicerna Pharmaceuticals during the 2nd quarter worth approximately $266,000. Metropolitan Life Insurance Co. NY acquired a new position in shares of Dicerna Pharmaceuticals during the 2nd quarter worth approximately $188,000. Finally, Voya Investment Management LLC acquired a new position in shares of Dicerna Pharmaceuticals during the 2nd quarter worth approximately $208,000. 76.16% of the stock is owned by institutional investors.

In other Dicerna Pharmaceuticals news, Director Brian K. Halak sold 335,000 shares of the firm’s stock in a transaction on Tuesday, November 6th. The stock was sold at an average price of $13.33, for a total value of $4,465,550.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James B. Weissman sold 2,301 shares of the firm’s stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $17.50, for a total value of $40,267.50. Following the completion of the sale, the insider now directly owns 26,781 shares of the company’s stock, valued at $468,667.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,146,697 shares of company stock valued at $15,625,892. 19.85% of the stock is owned by corporate insiders.

Several brokerages have recently weighed in on DRNA. BidaskClub downgraded Dicerna Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, October 9th. B. Riley upped their target price on Dicerna Pharmaceuticals from $10.00 to $13.50 and gave the stock a “neutral” rating in a research note on Monday, September 17th. Zacks Investment Research raised Dicerna Pharmaceuticals from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research note on Thursday, November 8th. Stifel Nicolaus upped their target price on Dicerna Pharmaceuticals from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, August 9th. Finally, HC Wainwright upped their target price on Dicerna Pharmaceuticals from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, October 31st. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $20.44.

NASDAQ DRNA opened at $14.15 on Monday. Dicerna Pharmaceuticals Inc has a one year low of $6.80 and a one year high of $17.98. The firm has a market capitalization of $887.66 million, a P/E ratio of -3.87 and a beta of 2.37.

Dicerna Pharmaceuticals (NASDAQ:DRNA) last posted its quarterly earnings data on Monday, November 5th. The biopharmaceutical company reported ($0.35) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by ($0.11). Dicerna Pharmaceuticals had a negative net margin of 1,418.01% and a negative return on equity of 63.24%. The firm had revenue of $1.55 million during the quarter, compared to analyst estimates of $1.67 million. Equities analysts predict that Dicerna Pharmaceuticals Inc will post -1.14 earnings per share for the current year.

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About Dicerna Pharmaceuticals

Dicerna Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the discovery and development of pharmaceuticals for the treatment of rare, viral infectious, chronic liver, and cardiovascular diseases. Its development programs include DCR-PHXC for the treatment of primary hyperoxaluria; DCR-HBVS for the treatment of chronic hepatitis B virus infection; and DCR-PCSK9 to treat hypercholesterolemia.

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Institutional Ownership by Quarter for Dicerna Pharmaceuticals (NASDAQ:DRNA)

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