Ra Capital Management Revealed Stake in Dicerna Pharmaceuticals Inc (DRNA) After Deerfield and Brookside

Ra Capital Management, a fund managed by Peter Kolchinsky, disclosed, in a new filing with the Securities and Exchange Commission, that it owns 2.43 million shares of Dicerna Pharmaceuticals Inc (NASDAQ:DRNA), equivalent to 14.6% of the common stock.

Peter Kolchinsky

In another filing the fund revealed that of 2.43 million shares, 1.43 million shares were obtained via conversion from Series C preferred stock, held by Ra Capital prior to the company’s IPO. At the same time, the fund purchased a total of 1.0 million shares at a price of $15 apiece. Peter Kolchinsky is a director of Dicerna Pharmaceuticals Inc (NASDAQ:DRNA), and he might exercise his control received from this position.

Yesterday, James E. Flynn’s Deerfield Management, disclosed holding 2.42 million common shares of Dicerna Pharmaceuticals Inc (NASDAQ:DRNA). James Flynn is a large shareholder at Dicerna. In another filing Brookside Capital, managed by Bain Capital also revealed that it holds 2.34 million shares of the company.

Dicerna Pharmaceuticals Inc (NASDAQ:DRNA), is a biopharmaceutical company, and treats rare inherited diseases in liver and for cancer. The company went public a couple of days ago, offering 6.0 million shares at a price of $14.0 per share.

The stock has been favored amongst insiders Stephen Hoffman, director at Dicerna Pharmaceuticals Inc (NASDAQ:DRNA), purchased 200,000 shares from the IPO, and currently owns around 1.73 million shares.

RA Capital Management invests in companies with promising drugs and technologies. A day before the fund revealed in a filing that it initiated a stake in Furiex Pharmaceuticals Inc (NASDAQ:FURX), and now holds 750,000 shares.

At the end of September 2013, RA Capital Management held 10.42 million shares of Dyax Corp. (NASDAQ:DYAX), with 7.45% of its equity portfolio invested in the company’s stock.

Disclosure: none

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