Sio Capital Management LLC Reduces Stock Position in Dicerna Pharmaceuticals Inc (NASDAQ:DRNA)

Sio Capital Management LLC cut its stake in Dicerna Pharmaceuticals Inc (NASDAQ:DRNA) by 31.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 526,059 shares of the biopharmaceutical company’s stock after selling 240,921 shares during the period. Dicerna Pharmaceuticals accounts for approximately 2.0% of Sio Capital Management LLC’s portfolio, making the stock its 12th largest position. Sio Capital Management LLC owned 0.77% of Dicerna Pharmaceuticals worth $8,285,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of DRNA. JPMorgan Chase & Co. lifted its holdings in Dicerna Pharmaceuticals by 3,144.4% in the first quarter. JPMorgan Chase & Co. now owns 445,722 shares of the biopharmaceutical company’s stock worth $6,530,000 after buying an additional 431,984 shares during the period. Marshall Wace LLP purchased a new stake in Dicerna Pharmaceuticals in the first quarter worth about $2,963,000. Alps Advisors Inc. purchased a new stake in Dicerna Pharmaceuticals in the second quarter worth about $2,252,000. Altrinsic Global Advisors LLC purchased a new stake in Dicerna Pharmaceuticals in the first quarter worth about $1,319,000. Finally, Allianz Asset Management GmbH lifted its holdings in Dicerna Pharmaceuticals by 77.9% in the second quarter. Allianz Asset Management GmbH now owns 178,212 shares of the biopharmaceutical company’s stock worth $2,807,000 after buying an additional 78,015 shares during the period. Institutional investors and hedge funds own 82.04% of the company’s stock.

In other Dicerna Pharmaceuticals 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 completion of the transaction, the insider now owns 9,800 shares of the company’s stock, valued at $128,086. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 21.28% of the stock is currently owned by company insiders.



Several brokerages have commented on DRNA. BidaskClub upgraded shares of Dicerna Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, August 13th. ValuEngine lowered shares of Dicerna Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. HC Wainwright set a $22.00 price objective on shares of Dicerna Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, August 26th. Cowen restated a “buy” rating on shares of Dicerna Pharmaceuticals in a report on Tuesday, July 2nd. Finally, Citigroup raised their price objective on shares of Dicerna Pharmaceuticals from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $21.57.

Shares of NASDAQ DRNA traded up $0.02 on Wednesday, reaching $14.34. 125,808 shares of the company’s stock traded hands, compared to its average volume of 404,207. Dicerna Pharmaceuticals Inc has a 12 month low of $9.31 and a 12 month high of $17.57. The business’s 50 day simple moving average is $13.87 and its two-hundred day simple moving average is $13.73. The company has a market cap of $978.92 million, a price-to-earnings ratio of -11.95 and a beta of 2.22. The company has a quick ratio of 3.65, a current ratio of 3.65 and a debt-to-equity ratio of 0.01.

Dicerna Pharmaceuticals (NASDAQ:DRNA) last announced its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.32) by ($0.03). Dicerna Pharmaceuticals had a negative net margin of 737.93% and a negative return on equity of 50.30%. The business had revenue of $5.68 million for the quarter, compared to the consensus estimate of $10.95 million. Analysts forecast that Dicerna Pharmaceuticals Inc will post -1.28 earnings per share for the current fiscal year.

About Dicerna Pharmaceuticals

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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