Bank of America Corp DE Increases Stock Position in Dicerna Pharmaceuticals, Inc. (NASDAQ:DRNA)

Bank of America Corp DE grew its stake in shares of Dicerna Pharmaceuticals, Inc. (NASDAQ:DRNA) by 8.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 248,421 shares of the biopharmaceutical company’s stock after acquiring an additional 18,956 shares during the quarter. Bank of America Corp DE’s holdings in Dicerna Pharmaceuticals were worth $9,271,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in DRNA. Morgan Stanley boosted its holdings in shares of Dicerna Pharmaceuticals by 1,454.6% in the first quarter. Morgan Stanley now owns 856,610 shares of the biopharmaceutical company’s stock worth $21,905,000 after buying an additional 801,509 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of Dicerna Pharmaceuticals in the second quarter worth approximately $17,036,000. Nikko Asset Management Americas Inc. purchased a new position in shares of Dicerna Pharmaceuticals in the second quarter worth approximately $16,875,000. JPMorgan Chase & Co. boosted its holdings in shares of Dicerna Pharmaceuticals by 38.5% in the second quarter. JPMorgan Chase & Co. now owns 1,431,526 shares of the biopharmaceutical company’s stock worth $53,425,000 after buying an additional 397,902 shares during the last quarter. Finally, ARK Investment Management LLC purchased a new position in shares of Dicerna Pharmaceuticals in the second quarter worth approximately $12,257,000. 78.91% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts have commented on DRNA shares. Royal Bank of Canada cut shares of Dicerna Pharmaceuticals from an “outperform” rating to a “sector perform” rating and raised their target price for the stock from $30.00 to $38.25 in a research note on Friday, November 19th. HC Wainwright cut shares of Dicerna Pharmaceuticals from a “buy” rating to a “neutral” rating and raised their target price for the stock from $32.00 to $38.25 in a research note on Thursday, November 18th. The Goldman Sachs Group cut shares of Dicerna Pharmaceuticals from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $36.00 to $25.00 in a research note on Tuesday, August 10th. Zacks Investment Research upgraded shares of Dicerna Pharmaceuticals from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research note on Wednesday, November 10th. Finally, Truist Securities cut shares of Dicerna Pharmaceuticals from a “buy” rating to a “hold” rating and set a $32.00 price objective on the stock. in a research report on Friday, August 6th. Nine analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $33.15.

In other news, EVP Shreeram Aradhye sold 2,056 shares of the company’s stock in a transaction dated Friday, September 17th. The shares were sold at an average price of $21.47, for a total transaction of $44,142.32. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ling Zeng sold 1,334 shares of the company’s stock in a transaction dated Friday, September 17th. The shares were sold at an average price of $21.47, for a total transaction of $28,640.98. The disclosure for this sale can be found here. Insiders have sold 28,326 shares of company stock valued at $1,018,855 over the last three months. Insiders own 10.20% of the company’s stock.

NASDAQ DRNA opened at $38.00 on Thursday. The company has a fifty day moving average of $22.72 and a two-hundred day moving average of $27.84. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of -23.31 and a beta of 0.93. Dicerna Pharmaceuticals, Inc. has a 52 week low of $19.06 and a 52 week high of $40.14.

Dicerna Pharmaceuticals (NASDAQ:DRNA) last posted its quarterly earnings data on Tuesday, November 9th. The biopharmaceutical company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.19. Dicerna Pharmaceuticals had a negative net margin of 64.53% and a negative return on equity of 103.08%. During the same quarter last year, the business earned ($0.29) earnings per share. As a group, research analysts anticipate that Dicerna Pharmaceuticals, Inc. will post -1.63 EPS for the current fiscal year.

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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