Morgan Stanley Grows Stock Holdings in Dicerna Pharmaceuticals Inc (NASDAQ:DRNA)

Morgan Stanley raised its position in shares of Dicerna Pharmaceuticals Inc (NASDAQ:DRNA) by 25.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 25,331 shares of the biopharmaceutical company’s stock after buying an additional 5,149 shares during the quarter. Morgan Stanley’s holdings in Dicerna Pharmaceuticals were worth $399,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Dicerna Pharmaceuticals by 1.6% during the second quarter. Vanguard Group Inc. now owns 2,339,194 shares of the biopharmaceutical company’s stock valued at $36,842,000 after buying an additional 35,905 shares during the last quarter. Artal Group S.A. raised its position in shares of Dicerna Pharmaceuticals by 2.1% in the 2nd quarter. Artal Group S.A. now owns 1,000,000 shares of the biopharmaceutical company’s stock valued at $15,750,000 after purchasing an additional 20,725 shares during the last quarter. Northern Trust Corp raised its position in shares of Dicerna Pharmaceuticals by 3.7% in the 2nd quarter. Northern Trust Corp now owns 683,682 shares of the biopharmaceutical company’s stock valued at $10,768,000 after purchasing an additional 24,348 shares during the last quarter. Candriam Luxembourg S.C.A. raised its position in shares of Dicerna Pharmaceuticals by 7.2% in the 2nd quarter. Candriam Luxembourg S.C.A. now owns 479,800 shares of the biopharmaceutical company’s stock valued at $9,860,000 after purchasing an additional 32,300 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Dicerna Pharmaceuticals by 7.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 477,324 shares of the biopharmaceutical company’s stock valued at $7,518,000 after purchasing an additional 31,602 shares during the last quarter. 87.15% of the stock is owned by institutional investors and hedge funds.

Several equities analysts recently commented on DRNA shares. ValuEngine raised shares of Dicerna Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Chardan Capital reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Dicerna Pharmaceuticals in a research report on Tuesday, August 13th. Robert W. Baird started coverage on shares of Dicerna Pharmaceuticals in a research report on Tuesday, October 29th. They issued an “outperform” rating and a $27.00 price objective for the company. BidaskClub raised shares of Dicerna Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, HC Wainwright set a $22.00 price objective on shares of Dicerna Pharmaceuticals and gave the company a “buy” rating in a research report on Monday, August 26th. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $22.50.

In other news, insider James B. Weissman sold 14,680 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $13.07, for a total transaction of $191,867.60. Following the sale, the insider now owns 9,800 shares of the company’s stock, valued at approximately $128,086. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO John B. Green sold 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $18.00, for a total transaction of $225,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,180 shares of company stock worth $686,868. 21.28% of the stock is owned by corporate insiders.

NASDAQ:DRNA traded up $0.24 during midday trading on Tuesday, hitting $17.93. The company’s stock had a trading volume of 474,130 shares, compared to its average volume of 566,797. Dicerna Pharmaceuticals Inc has a fifty-two week low of $9.31 and a fifty-two week high of $18.39. The firm’s 50 day moving average is $15.64 and its 200-day moving average is $14.28. The firm has a market cap of $1.21 billion, a P/E ratio of -14.94 and a beta of 2.29.

Dicerna Pharmaceuticals (NASDAQ:DRNA) last issued its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.45) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.30) by ($0.15). Dicerna Pharmaceuticals had a negative return on equity of 58.92% and a negative net margin of 541.24%. The business had revenue of $8.04 million during the quarter, compared to analyst estimates of $11.70 million. On average, sell-side analysts anticipate that Dicerna Pharmaceuticals Inc will post -1.39 earnings per share for the current fiscal year.

Dicerna Pharmaceuticals Company Profile

Dicerna Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the discovery and development of ribonucleic acid interference (RNAi)-based pharmaceuticals. The company develops pharmaceuticals using its GalXC RNAi platform for the treatment of diseases involving the liver, including rare diseases, viral infectious diseases, chronic liver diseases, and cardiovascular diseases.

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

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