Dicerna Pharmaceuticals Inc (DRNA) Short Interest Update
Dicerna Pharmaceuticals Inc (NASDAQ:DRNA) was the target of a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 335,400 shares, a decline of 52.7% from the January 12th total of 708,676 shares. Currently, 0.9% of the shares of the company are sold short. Based on an average trading volume of 502,823 shares, the days-to-cover ratio is presently 0.7 days.
In other Dicerna Pharmaceuticals news, Director Bain Capital Life Sciences Inv bought 285,000 shares of the stock in a transaction on Monday, December 18th. The shares were acquired at an average price of $7.00 per share, with a total value of $1,995,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 29.41% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Manhattan Co. purchased a new position in shares of Dicerna Pharmaceuticals during the 4th quarter valued at $3,865,000. Vanguard Group Inc. grew its position in shares of Dicerna Pharmaceuticals by 4.5% during the 2nd quarter. Vanguard Group Inc. now owns 340,327 shares of the biopharmaceutical company’s stock valued at $1,078,000 after purchasing an additional 14,517 shares in the last quarter. Monashee Investment Management LLC purchased a new position in shares of Dicerna Pharmaceuticals during the 4th quarter valued at $1,878,000. Deschutes Portfolio Strategy LLC purchased a new position in shares of Dicerna Pharmaceuticals during the 3rd quarter valued at $575,000. Finally, Birchview Capital LP grew its position in shares of Dicerna Pharmaceuticals by 125.0% during the 3rd quarter. Birchview Capital LP now owns 45,000 shares of the biopharmaceutical company’s stock valued at $259,000 after purchasing an additional 25,000 shares in the last quarter. Hedge funds and other institutional investors own 22.76% of the company’s stock.
A number of equities research analysts have issued reports on DRNA shares. HC Wainwright reissued a “buy” rating and set a $10.00 target price (up previously from $6.00) on shares of Dicerna Pharmaceuticals in a report on Friday, November 3rd. Zacks Investment Research raised shares of Dicerna Pharmaceuticals from a “strong sell” rating to a “buy” rating and set a $6.25 target price on the stock in a report on Monday, October 23rd. BidaskClub cut shares of Dicerna Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. Chardan Capital reissued a “neutral” rating on shares of Dicerna Pharmaceuticals in a report on Tuesday, January 16th. Finally, Evercore ISI started coverage on shares of Dicerna Pharmaceuticals in a report on Tuesday, January 16th. They set an “outperform” rating and a $14.00 target price on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. Dicerna Pharmaceuticals currently has an average rating of “Hold” and an average price target of $10.05.
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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