Dicerna Pharmaceuticals Inc (DRNA) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lessened its stake in Dicerna Pharmaceuticals Inc (NASDAQ:DRNA) by 75.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,100 shares of the biopharmaceutical company’s stock after selling 218,300 shares during the period. Renaissance Technologies LLC’s holdings in Dicerna Pharmaceuticals were worth $871,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. grew its holdings in Dicerna Pharmaceuticals by 839.8% during the 2nd quarter. BlackRock Inc. now owns 2,607,895 shares of the biopharmaceutical company’s stock worth $31,946,000 after acquiring an additional 2,330,402 shares during the period. Emerald Advisers Inc. PA grew its holdings in Dicerna Pharmaceuticals by 2,002.5% during the 2nd quarter. Emerald Advisers Inc. PA now owns 603,508 shares of the biopharmaceutical company’s stock worth $7,393,000 after acquiring an additional 574,804 shares during the period. Emerald Mutual Fund Advisers Trust grew its holdings in Dicerna Pharmaceuticals by 247.6% during the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 526,859 shares of the biopharmaceutical company’s stock worth $6,454,000 after acquiring an additional 375,288 shares during the period. Millennium Management LLC grew its holdings in Dicerna Pharmaceuticals by 509.1% during the 1st quarter. Millennium Management LLC now owns 407,530 shares of the biopharmaceutical company’s stock worth $3,896,000 after acquiring an additional 340,623 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Dicerna Pharmaceuticals by 288.3% during 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 acquiring an additional 119,466 shares during the period. Hedge funds and other institutional investors own 74.46% of the company’s stock.

In other news, Director Dennis Langer sold 14,531 shares of the business’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $16.00, for a total value of $232,496.00. Following the completion of the transaction, the director now owns 29,064 shares of the company’s stock, valued at approximately $465,024. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Brian K. Halak sold 564,300 shares of the business’s stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $13.66, for a total transaction of $7,708,338.00. The disclosure for this sale can be found here. Insiders sold a total of 826,228 shares of company stock valued at $11,392,838 in the last three months. 19.85% of the stock is owned by company insiders.

A number of analysts have commented on the stock. BidaskClub raised shares of Dicerna Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Friday, August 10th. Citigroup reaffirmed a “buy” rating and set a $30.00 target price (up previously from $27.00) on shares of Dicerna Pharmaceuticals in a report on Monday, October 29th. HC Wainwright lifted their target price on shares of Dicerna Pharmaceuticals from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday. SunTrust Banks lifted their target price on shares of Dicerna Pharmaceuticals to $20.00 and gave the stock a “buy” rating in a report on Thursday, September 6th. Finally, ValuEngine lowered shares of Dicerna Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, October 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $19.86.

Shares of DRNA stock opened at $13.49 on Friday. Dicerna Pharmaceuticals Inc has a 12-month low of $6.80 and a 12-month high of $17.98. The company has a debt-to-equity ratio of 0.14, a quick ratio of 5.40 and a current ratio of 5.40.

Dicerna Pharmaceuticals (NASDAQ:DRNA) last announced its quarterly earnings results on Wednesday, August 8th. The biopharmaceutical company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.26). Dicerna Pharmaceuticals had a negative net margin of 1,642.81% and a negative return on equity of 97.39%. The firm had revenue of $1.55 million during the quarter, compared to analyst estimates of $1.79 million. As a group, sell-side analysts anticipate that Dicerna Pharmaceuticals Inc will post -1.13 EPS for the current fiscal year.

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.

Further Reading: What is a stock buyback?

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

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