Hedge Funds Aren’t Crazy About Dicerna Pharmaceuticals Inc (DRNA) Anymore

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Seeing as Dicerna Pharmaceuticals Inc (NASDAQ:DRNA) has faced a declination in interest from the aggregate hedge fund industry, logic holds that there were a few hedgies who sold off their positions entirely by the end of the third quarter. Interestingly, Samuel Isaly’s OrbiMed Advisors cut the biggest position of all the hedgies watched by Insider Monkey, comprising an estimated $2 million in stock, and James Dondero’s Highland Capital Management was right behind this move, as the fund cut about $1.9 million worth of shares. These bearish behaviors are intriguing to say the least, as total hedge fund interest dropped by 3 funds by the end of the third quarter.

Let’s now review hedge fund activity in other stocks similar to Dicerna Pharmaceuticals Inc (NASDAQ:DRNA). We will take a look at Fibrocell Science Inc (NASDAQ:FCSC), TriplePoint Venture Growth BDC Corp (NYSE:TPVG), TrovaGene Inc (NASDAQ:TROV), and Tobira Therapeutics Inc (NASDAQ:TBRA). All of these stocks’ market caps are closest to Dicerna Pharmaceuticals Inc (NASDAQ:DRNA)’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
FCSC 4 15528 1
TPVG 6 10796 2
TROV 6 24914 0
TBRA 6 14875 2

As you can see, these stocks had an average of 6 hedge funds with bullish positions and the average amount invested in these stocks was $17 million. That figure was $30 million in Dicerna Pharmaceuticals Inc (NASDAQ:DRNA)’s case. TriplePoint Venture Growth BDC Corp (NYSE:TPVG) is the most popular stock in this table. On the other hand, Fibrocell Science Inc (NASDAQ:FCSC) is the least popular one with only 4 bullish hedge fund positions. Compared to these stocks, Dicerna Pharmaceuticals Inc (NASDAQ:DRNA) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

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