Trexquant Investment LP Invests $260,000 in Dicerna Pharmaceuticals, Inc. (NASDAQ:DRNA)

Trexquant Investment LP bought a new position in shares of Dicerna Pharmaceuticals, Inc. (NASDAQ:DRNA) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 6,975 shares of the biopharmaceutical company’s stock, valued at approximately $260,000.

Several other institutional investors also recently made changes to their positions in DRNA. Acadian Asset Management LLC raised its position in shares of Dicerna Pharmaceuticals by 97.0% during the first quarter. Acadian Asset Management LLC now owns 2,025 shares of the biopharmaceutical company’s stock worth $52,000 after purchasing an additional 997 shares during the period. Eaton Vance Management acquired a new position in Dicerna Pharmaceuticals during the first quarter valued at $67,000. Lazard Asset Management LLC acquired a new position in Dicerna Pharmaceuticals during the second quarter valued at $93,000. Advisor Group Holdings Inc. raised its position in Dicerna Pharmaceuticals by 88.3% during the second quarter. Advisor Group Holdings Inc. now owns 2,744 shares of the biopharmaceutical company’s stock valued at $101,000 after buying an additional 1,287 shares during the period. Finally, E Fund Management Co. Ltd. acquired a new position in Dicerna Pharmaceuticals during the first quarter valued at $128,000. 78.44% of the stock is currently owned by institutional investors.

DRNA opened at $21.00 on Thursday. The company has a market cap of $1.63 billion, a PE ratio of -12.35 and a beta of 0.99. The stock has a 50-day moving average of $21.26 and a 200-day moving average of $28.47. Dicerna Pharmaceuticals, Inc. has a 52-week low of $18.54 and a 52-week high of $40.14.

Dicerna Pharmaceuticals (NASDAQ:DRNA) last announced its earnings results on Monday, August 9th. The biopharmaceutical company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of $0.51 by ($1.04). Dicerna Pharmaceuticals had a negative net margin of 72.28% and a negative return on equity of 97.72%. The business had revenue of $41.34 million for the quarter, compared to the consensus estimate of $129.44 million. On average, research analysts predict that Dicerna Pharmaceuticals, Inc. will post -1.7 EPS for the current year.

DRNA has been the topic of several recent analyst reports. Truist lowered Dicerna Pharmaceuticals from a “buy” rating to a “hold” rating and dropped their price target for the company from $45.00 to $32.00 in a research report on Friday, August 6th. Zacks Investment Research raised Dicerna Pharmaceuticals from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research report on Tuesday. Citigroup lowered Dicerna Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $32.00 price target on the stock. in a research report on Monday, August 9th. HC Wainwright dropped their price target on Dicerna Pharmaceuticals from $42.00 to $38.00 and set a “buy” rating on the stock in a research report on Friday, August 6th. Finally, Royal Bank of Canada lowered their target price on Dicerna Pharmaceuticals from $35.00 to $30.00 and set an “outperform” rating on the stock in a research note on Friday, August 6th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $32.10.

In other Dicerna Pharmaceuticals news, CEO Douglas Fambrough bought 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 10th. The stock was purchased at an average price of $22.10 per share, for a total transaction of $110,500.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Marc D. Kozin purchased 3,000 shares of the business’s stock in a transaction on Tuesday, August 10th. The stock was purchased at an average cost of $23.66 per share, with a total value of $70,980.00. The disclosure for this purchase can be found here. 10.20% of the stock is owned by corporate insiders.

About Dicerna Pharmaceuticals

Dicerna Pharmaceuticals, Inc is a biopharmaceutical company, which engages in discovering, developing and commercializing medicines that are designed to leverage ribonucleic acid interference (RNAi) to selectively silence genes that cause or contribute to disease. The firm uses its proprietary GalXC RNAi technology platform to build a pipeline in these therapeutic areas.

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Institutional Ownership by Quarter for Dicerna Pharmaceuticals (NASDAQ:DRNA)

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