Dicerna Pharmaceuticals Inc (NASDAQ:DRNA) saw a significant decline in short interest during 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. Approximately 0.9% of the company’s stock are sold short. Based on an average trading volume of 502,823 shares, the days-to-cover ratio is currently 0.7 days.

In other news, Director Bain Capital Life Sciences Inv purchased 285,000 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The stock was bought at an average price of $7.00 per share, for a total transaction of $1,995,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 29.41% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in DRNA. Northern Trust Corp raised its holdings in Dicerna Pharmaceuticals by 6.1% during the second quarter. Northern Trust Corp now owns 36,219 shares of the biopharmaceutical company’s stock worth $114,000 after purchasing an additional 2,094 shares in the last quarter. Birchview Capital LP increased its holdings in shares of 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 during the period. Emerald Advisers Inc. PA acquired a new position in shares of Dicerna Pharmaceuticals in the 4th quarter valued at $266,000. Deschutes Portfolio Strategy LLC acquired a new position in shares of Dicerna Pharmaceuticals in the 3rd quarter valued at $575,000. Finally, EAM Investors LLC acquired a new position in shares of Dicerna Pharmaceuticals in the 4th quarter valued at $581,000. 23.86% of the stock is currently owned by institutional investors.

A number of analysts have weighed in on DRNA shares. Zacks Investment Research raised shares of Dicerna Pharmaceuticals from a “strong sell” rating to a “buy” rating and set a $6.25 price objective on the stock in a report on Monday, October 23rd. ValuEngine raised shares of Dicerna Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, November 2nd. HC Wainwright reissued a “buy” rating and set a $10.00 price objective (up previously from $6.00) on shares of Dicerna Pharmaceuticals in a report on Friday, November 3rd. BidaskClub cut shares of Dicerna Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. 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 price objective 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. Dicerna Pharmaceuticals currently has an average rating of “Hold” and an average target price of $10.05.

Shares of Dicerna Pharmaceuticals (NASDAQ:DRNA) opened at $9.44 on Wednesday. Dicerna Pharmaceuticals has a 1-year low of $2.52 and a 1-year high of $11.19.

TRADEMARK VIOLATION WARNING: This piece was originally reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this piece on another site, it was illegally stolen and republished in violation of US and international trademark and copyright laws. The original version of this piece can be read at https://www.thecerbatgem.com/2018/02/14/dicerna-pharmaceuticals-inc-drna-sees-significant-drop-in-short-interest.html.

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.

Receive News & Ratings for Dicerna Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dicerna Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.