Shares of Dicerna Pharmaceuticals Inc (NASDAQ:DRNA) rose 6.3% during trading on Wednesday . The stock traded as high as $9.50 and last traded at $9.25. Approximately 505,479 shares changed hands during mid-day trading, an increase of 175% from the average daily volume of 184,043 shares. The stock had previously closed at $8.70.

DRNA has been the subject of several research reports. HC Wainwright restated a “buy” rating and issued a $10.00 target price (up from $6.00) on shares of Dicerna Pharmaceuticals in a research note on Friday, November 3rd. Zacks Investment Research upgraded Dicerna Pharmaceuticals from a “strong sell” rating to a “buy” rating and set a $6.25 target price for the company in a research note on Monday, October 23rd. Finally, ValuEngine upgraded 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 has an average rating of “Buy” and an average target price of $6.81.

The company has a market cap of $253.50, a P/E ratio of -2.77 and a beta of 2.84.

Dicerna Pharmaceuticals (NASDAQ:DRNA) last issued its earnings results on Thursday, November 2nd. The biopharmaceutical company reported ($0.92) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.70) by ($0.22). The firm had revenue of $0.47 million during the quarter. Dicerna Pharmaceuticals had a negative net margin of 5,895.26% and a negative return on equity of 293.25%. Dicerna Pharmaceuticals’s revenue for the quarter was up 192.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.68) EPS. analysts anticipate that Dicerna Pharmaceuticals Inc will post -3.04 EPS for the current year.

In other news, Director Bain Capital Life Sciences Inv bought 285,000 shares of Dicerna Pharmaceuticals stock in a transaction dated Monday, December 18th. The stock was bought at an average cost of $7.00 per share, for a total transaction of $1,995,000.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 29.41% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Deschutes Portfolio Strategy LLC bought a new position in Dicerna Pharmaceuticals in the 3rd quarter valued at about $575,000. Palo Alto Investors LLC lifted its position in Dicerna Pharmaceuticals by 4.0% in the 2nd quarter. Palo Alto Investors LLC now owns 500,913 shares of the biopharmaceutical company’s stock valued at $1,588,000 after acquiring an additional 19,394 shares in the last quarter. Birchview Capital LP lifted 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 valued at $259,000 after acquiring an additional 25,000 shares in the last quarter. EcoR1 Capital LLC lifted its position in Dicerna Pharmaceuticals by 101.0% in the 2nd quarter. EcoR1 Capital LLC now owns 767,992 shares of the biopharmaceutical company’s stock valued at $2,435,000 after acquiring an additional 385,992 shares in the last quarter. Finally, Vanguard Group Inc. lifted 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 valued at $1,078,000 after acquiring an additional 14,517 shares in the last quarter. 42.63% of the stock is currently owned by institutional investors and hedge funds.

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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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