Dicerna Pharmaceuticals Inc (NASDAQ:DRNA) saw a large increase in short interest in December. As of December 31st, there was short interest totalling 5,979,289 shares, an increase of 75.9% from the December 14th total of 3,399,119 shares. Based on an average trading volume of 929,548 shares, the days-to-cover ratio is currently 6.4 days. Approximately 13.2% of the shares of the company are short sold.

A number of research analysts recently issued reports on DRNA shares. Zacks Investment Research upgraded Dicerna Pharmaceuticals from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research report on Thursday, November 8th. B. Riley upgraded Dicerna Pharmaceuticals from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $13.50 to $21.00 in a research report on Tuesday, November 6th. Cowen restated a “buy” rating on shares of Dicerna Pharmaceuticals in a research report on Tuesday, November 6th. HC Wainwright boosted their price objective on Dicerna Pharmaceuticals from $20.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, October 31st. Finally, Citigroup restated a “buy” rating and set a $30.00 price objective (up previously from $27.00) on shares of Dicerna Pharmaceuticals in a research report on Monday, October 29th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $20.39.

Shares of Dicerna Pharmaceuticals stock opened at $11.08 on Friday. The firm has a market cap of $719.53 million, a price-to-earnings ratio of -3.03 and a beta of 2.49. Dicerna Pharmaceuticals has a 1-year low of $8.29 and a 1-year high of $17.98.

Dicerna Pharmaceuticals (NASDAQ:DRNA) last announced its earnings results on Monday, November 5th. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.11). The business had revenue of $1.55 million for the quarter, compared to the consensus estimate of $1.67 million. Dicerna Pharmaceuticals had a negative net margin of 1,418.01% and a negative return on equity of 63.24%. On average, equities research analysts expect that Dicerna Pharmaceuticals will post -1.15 earnings per share for the current fiscal year.

In related news, Director Brian K. Halak sold 335,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 6th. The stock was sold at an average price of $13.33, for a total transaction of $4,465,550.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brian K. Halak sold 564,300 shares of the business’s stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $13.66, for a total value of $7,708,338.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,144,396 shares of company stock valued at $15,585,624. Insiders own 19.85% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Citadel Advisors LLC raised its stake in Dicerna Pharmaceuticals by 14.8% during the 3rd quarter. Citadel Advisors LLC now owns 1,950,195 shares of the biopharmaceutical company’s stock valued at $29,760,000 after acquiring an additional 251,280 shares in the last quarter. Federated Investors Inc. PA raised its stake in Dicerna Pharmaceuticals by 61,484.1% during the 3rd quarter. Federated Investors Inc. PA now owns 252,495 shares of the biopharmaceutical company’s stock valued at $3,853,000 after acquiring an additional 252,085 shares in the last quarter. Schwab Charles Investment Management Inc. bought a new stake in Dicerna Pharmaceuticals during the 2nd quarter valued at $1,097,000. Virtu Financial LLC bought a new stake in Dicerna Pharmaceuticals during the 3rd quarter valued at $384,000. Finally, Metropolitan Life Insurance Co. NY bought a new stake in shares of Dicerna Pharmaceuticals in the 2nd quarter worth $188,000. 87.20% of the stock is currently owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION NOTICE: “Short Interest in Dicerna Pharmaceuticals Inc (DRNA) Grows By 75.9%” was originally posted by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are reading this piece on another publication, it was illegally copied and republished in violation of US and international copyright & trademark law. The original version of this piece can be accessed at https://theolympiareport.com/2019/01/12/short-interest-in-dicerna-pharmaceuticals-inc-drna-grows-by-75-9.html.

About Dicerna Pharmaceuticals

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: Net Asset Value

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.