Dicerna Pharmaceuticals Inc. (DRNA) Sees Unusually-High Trading Volume Following Insider Buying Activity
Dicerna Pharmaceuticals Inc. (NASDAQ:DRNA) saw unusually-high trading volume on Thursday following insider buying activity. Approximately 726,788 shares changed hands during mid-day trading, an increase of 167% from the previous session’s volume of 272,302 shares.The stock last traded at $4.24 and had previously closed at $3.47.
Specifically, CEO Douglas Fambrough purchased 33,100 shares of Dicerna Pharmaceuticals stock in a transaction dated Tuesday, November 15th. The stock was acquired at an average cost of $3.71 per share, with a total value of $122,801.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Dennis Langer sold 23,766 shares of the stock in a transaction that occurred on Wednesday, November 16th. The stock was sold at an average price of $3.52, for a total transaction of $83,656.32. Following the completion of the sale, the director now directly owns 43,595 shares of the company’s stock, valued at $153,454.40. The disclosure for this sale can be found here. 27.65% of the stock is currently owned by company insiders.
A number of analysts have recently issued reports on the stock. Leerink Swann reissued a “buy” rating and issued a $8.00 price target on shares of Dicerna Pharmaceuticals in a research report on Tuesday, November 8th. Zacks Investment Research lowered shares of Dicerna Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, November 10th. Chardan Capital reduced their price target on shares of Dicerna Pharmaceuticals from $4.00 to $3.50 and set a “neutral” rating for the company in a research report on Monday, August 8th. Cowen and Company reissued a “buy” rating on shares of Dicerna Pharmaceuticals in a research report on Friday, August 5th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $13.00 price target on shares of Dicerna Pharmaceuticals in a research report on Wednesday, September 28th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $9.85.
The firm’s 50-day moving average is $4.03 and its 200 day moving average is $3.63. The firm’s market cap is $87.99 million.
Dicerna Pharmaceuticals (NASDAQ:DRNA) last posted its earnings results on Monday, November 7th. The biopharmaceutical company reported ($0.68) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.85) by $0.17. The company had revenue of $162 million for the quarter. On average, equities research analysts expect that Dicerna Pharmaceuticals Inc. will post ($2.95) EPS for the current year.
Several institutional investors have recently bought and sold shares of DRNA. Connor Clark & Lunn Investment Management Ltd. raised its position in Dicerna Pharmaceuticals by 27.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 25,900 shares of the biopharmaceutical company’s stock valued at $152,000 after buying an additional 5,500 shares during the last quarter. Northern Trust Corp raised its position in Dicerna Pharmaceuticals by 19.6% in the third quarter. Northern Trust Corp now owns 43,612 shares of the biopharmaceutical company’s stock valued at $257,000 after buying an additional 7,149 shares during the last quarter. Paloma Partners Management Co bought a new position in Dicerna Pharmaceuticals during the second quarter valued at about $183,000. A.R.T. Advisors LLC bought a new position in Dicerna Pharmaceuticals during the second quarter valued at about $170,000. Finally, FMR LLC raised its position in Dicerna Pharmaceuticals by 0.4% in the second quarter. FMR LLC now owns 3,108,916 shares of the biopharmaceutical company’s stock valued at $9,327,000 after buying an additional 11,719 shares during the last quarter. Institutional investors own 62.34% of the company’s stock.
Dicerna Pharmaceuticals Company Profile
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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