Shares of Dicerna Pharmaceuticals, Inc. (NASDAQ:DRNA) dropped 6.4% during trading on Tuesday after an insider sold shares in the company. The stock traded as low as $26.22 and last traded at $26.34. Approximately 642,306 shares changed hands during trading, a decline of 22% from the average daily volume of 828,466 shares. The stock had previously closed at $28.13.
Specifically, insider Bob D. Brown sold 8,185 shares of Dicerna Pharmaceuticals stock in a transaction on Tuesday, December 1st. The shares were sold at an average price of $25.19, for a total transaction of $206,180.15. Following the transaction, the insider now owns 34,702 shares in the company, valued at $874,143.38. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Bob D. Brown sold 5,808 shares of Dicerna Pharmaceuticals stock in a transaction on Tuesday, January 12th. The stock was sold at an average price of $24.07, for a total transaction of $139,798.56. Following the transaction, the insider now owns 26,517 shares in the company, valued at approximately $638,264.19. The disclosure for this sale can be found here. Insiders sold 1,065,577 shares of company stock worth $25,046,897 in the last 90 days. Company insiders own 11.30% of the company’s stock.
A number of equities analysts recently weighed in on the stock. B. Riley reissued a “buy” rating and set a $37.00 target price (up previously from $30.00) on shares of Dicerna Pharmaceuticals in a research note on Monday, January 11th. Zacks Investment Research raised shares of Dicerna Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, November 6th. Finally, SVB Leerink decreased their price target on shares of Dicerna Pharmaceuticals from $48.00 to $45.00 and set an “outperform” rating for the company in a research note on Wednesday, November 25th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $34.33.
The firm’s 50-day moving average price is $23.71 and its 200 day moving average price is $21.51. The company has a market capitalization of $1.98 billion, a P/E ratio of -16.36 and a beta of 1.33.
Large investors have recently bought and sold shares of the company. Pacer Advisors Inc. bought a new stake in shares of Dicerna Pharmaceuticals during the third quarter worth about $55,000. Nisa Investment Advisors LLC boosted its holdings in Dicerna Pharmaceuticals by 303.2% during the third quarter. Nisa Investment Advisors LLC now owns 3,125 shares of the biopharmaceutical company’s stock worth $56,000 after purchasing an additional 2,350 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in Dicerna Pharmaceuticals during the third quarter worth about $125,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Dicerna Pharmaceuticals by 24.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,744 shares of the biopharmaceutical company’s stock worth $193,000 after purchasing an additional 1,698 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its holdings in Dicerna Pharmaceuticals by 86.3% during the third quarter. Advisors Asset Management Inc. now owns 8,759 shares of the biopharmaceutical company’s stock worth $158,000 after purchasing an additional 4,057 shares during the last quarter. 80.64% of the stock is owned by institutional investors.
Dicerna Pharmaceuticals Company Profile (NASDAQ:DRNA)
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 cardiometabolic diseases.
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