6.8% Stake of Dicerna Pharmaceuticals Inc (DRNA) Owned by Domain Partners Viii, L.P.
Domain Partners Viii, L.P.
stated that they own a 6.8% stake in Dicerna Pharmaceuticals Inc (NASDAQ:DRNA) in a Schedule 13D/A disclosure that was filed with the Securities and Exchange Commission on Wednesday, December 20th. The investor owns 3,490,070 shares of the stock worth about $25,652,015. The reporting parties listed on the disclosure included Domain Partners VIII, LP and DP VIII Associates, LP. The disclosure is available through the SEC website at this link.
provided the following explanation of their ownership:
Several other hedge funds also recently added to or reduced their stakes in DRNA. EcoR1 Capital LLC lifted its holdings in shares of Dicerna Pharmaceuticals by 101.0% in the second quarter. EcoR1 Capital LLC now owns 767,992 shares of the biopharmaceutical company’s stock worth $2,435,000 after buying an additional 385,992 shares in the last quarter. Deschutes Portfolio Strategy LLC purchased a new stake in Dicerna Pharmaceuticals during the third quarter valued at $575,000. Birchview Capital LP raised its stake in Dicerna Pharmaceuticals by 125.0% during the third 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. Palo Alto Investors LLC raised its stake in Dicerna Pharmaceuticals by 4.0% during the second quarter. Palo Alto Investors LLC now owns 500,913 shares of the biopharmaceutical company’s stock valued at $1,588,000 after purchasing an additional 19,394 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Dicerna Pharmaceuticals by 4.5% during the second 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. 54.35% of the stock is currently owned by hedge funds and other institutional investors.
Dicerna Pharmaceuticals Inc (DRNA) traded up $0.17 during mid-day trading on Wednesday, reaching $7.35. 145,600 shares of the company’s stock were exchanged, compared to its average volume of 180,332. Dicerna Pharmaceuticals Inc has a fifty-two week low of $2.42 and a fifty-two week high of $10.24.
Dicerna Pharmaceuticals (NASDAQ:DRNA) last posted its quarterly earnings data on Thursday, November 2nd. The biopharmaceutical company reported ($0.92) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.70) by ($0.22). Dicerna Pharmaceuticals had a negative net margin of 5,895.26% and a negative return on equity of 293.25%. The firm had revenue of $0.47 million for the quarter. During the same quarter last year, the business earned ($0.68) EPS. The firm’s revenue was up 192.6% on a year-over-year basis. equities research analysts expect that Dicerna Pharmaceuticals Inc will post -3.04 EPS for the current fiscal year.
A number of equities research analysts recently issued reports on the stock. ValuEngine raised shares of Dicerna Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, November 2nd. Zacks Investment Research downgraded shares of Dicerna Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd. Finally, HC Wainwright reaffirmed a “buy” rating and set a $10.00 price target (up previously from $6.00) on shares of Dicerna Pharmaceuticals in a research note on Friday, November 3rd. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Dicerna Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $6.81.
In other news, Director Bain Capital Life Sciences Inv acquired 285,000 shares of the business’s stock in a transaction on Monday, December 18th. The shares were acquired at an average price of $7.00 per share, for a total transaction of $1,995,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 29.41% of the company’s stock.
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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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