Do Hedge Funds Love Dicerna Pharmaceuticals Inc (DRNA)?

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Now, key hedge funds have jumped into Dicerna Pharmaceuticals Inc (NASDAQ:DRNA) headfirst. 683 Capital Partners, led by Ari Zweiman, assembled the most valuable position in Dicerna Pharmaceuticals Inc (NASDAQ:DRNA). 683 Capital Partners had $2.1 million invested in the company at the end of the quarter. Hal Mintz’s Sabby Capital also made a $0.3 million investment in the stock during the quarter. The other funds with brand new DRNA positions are Behzad Aghazadeh’s venBio Select Advisor and Peter Muller’s PDT Partners.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Dicerna Pharmaceuticals Inc (NASDAQ:DRNA) but similarly valued. We will take a look at Assembly Biosciences Inc (NASDAQ:ASMB), The McClatchy Company (NYSE:MNI), Bioamber Inc (NYSE:BIOA), and CUI Global Inc (NASDAQ:CUI). This group of stocks’ market caps are similar to DRNA’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
ASMB 10 51713 -2
MNI 3 11485 -1
BIOA 9 5797 0
CUI 1 2085 -4

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 $18 million. That figure was $22 million in DRNA’s case. Assembly Biosciences Inc (NASDAQ:ASMB) is the most popular stock in this table. On the other hand CUI Global Inc (NASDAQ:CUI) is the least popular one with only 1 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.

Disclosure: None

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