California Public Employees Retirement System boosted its holdings in shares of Dicerna Pharmaceuticals Inc (NASDAQ:DRNA) by 39.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,000 shares of the biopharmaceutical company’s stock after acquiring an additional 16,000 shares during the period. California Public Employees Retirement System owned 0.11% of Dicerna Pharmaceuticals worth $698,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cubist Systematic Strategies LLC purchased a new position in Dicerna Pharmaceuticals during the 1st quarter valued at about $102,000. Jane Street Group LLC purchased a new position in Dicerna Pharmaceuticals during the 1st quarter valued at about $136,000. State Board of Administration of Florida Retirement System purchased a new position in Dicerna Pharmaceuticals during the 2nd quarter valued at about $178,000. Metropolitan Life Insurance Co. NY purchased a new position in Dicerna Pharmaceuticals during the 2nd quarter valued at about $188,000. Finally, Voya Investment Management LLC purchased a new position in Dicerna Pharmaceuticals during the 2nd quarter valued at about $208,000. 74.46% of the stock is owned by institutional investors.

In other news, Director Brian K. Halak sold 335,000 shares of Dicerna Pharmaceuticals stock in a transaction that occurred on Tuesday, November 6th. The shares were sold at an average price of $13.33, for a total value of $4,465,550.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Brian K. Halak sold 564,300 shares of Dicerna Pharmaceuticals stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $13.66, for a total transaction of $7,708,338.00. The disclosure for this sale can be found here. Insiders sold 1,161,228 shares of company stock valued at $15,858,388 over the last quarter. Company insiders own 19.85% of the company’s stock.

A number of research analysts recently issued reports on the stock. BidaskClub cut shares of Dicerna Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, July 18th. B. Riley lifted their target price on shares of Dicerna Pharmaceuticals from $10.00 to $13.50 and gave the stock a “neutral” rating in a report on Monday, September 17th. Zacks Investment Research raised shares of Dicerna Pharmaceuticals from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a report on Thursday. Stifel Nicolaus lifted their target price on shares of Dicerna Pharmaceuticals from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, August 9th. Finally, HC Wainwright lifted their target price on shares of Dicerna Pharmaceuticals from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, October 31st. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $20.44.

Shares of Dicerna Pharmaceuticals stock opened at $14.72 on Friday. The stock has a market capitalization of $933.45 million, a price-to-earnings ratio of -4.02 and a beta of 2.37. Dicerna Pharmaceuticals Inc has a 52-week low of $6.80 and a 52-week high of $17.98.

Dicerna Pharmaceuticals (NASDAQ:DRNA) last issued its earnings results on Monday, November 5th. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.11). The firm had revenue of $1.55 million during the quarter, compared to analysts’ expectations of $1.67 million. Dicerna Pharmaceuticals had a negative return on equity of 63.24% and a negative net margin of 1,418.01%. As a group, sell-side analysts predict that Dicerna Pharmaceuticals Inc will post -1.16 EPS for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This piece of content was originally published by TheOlympiaReport and is the property of of TheOlympiaReport. If you are reading this piece of content on another website, it was illegally stolen and republished in violation of U.S. & international trademark and copyright law. The correct version of this piece of content can be accessed at https://theolympiareport.com/2018/11/11/dicerna-pharmaceuticals-inc-drna-shares-bought-by-california-public-employees-retirement-system.html.

Dicerna Pharmaceuticals Company Profile

Dicerna Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the discovery and development of pharmaceuticals for the treatment of rare, viral infectious, chronic liver, and cardiovascular diseases. Its development programs include DCR-PHXC for the treatment of primary hyperoxaluria; DCR-HBVS for the treatment of chronic hepatitis B virus infection; and DCR-PCSK9 to treat hypercholesterolemia.

Featured Article: Should You Consider an Index Fund?

Want to see what other hedge funds are holding DRNA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dicerna Pharmaceuticals Inc (NASDAQ:DRNA).

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

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.