Moss Adams Wealth Advisors LLC Sells 15,717 Shares of Avidity Biosciences, Inc. (NASDAQ:RNA)

Moss Adams Wealth Advisors LLC decreased its stake in shares of Avidity Biosciences, Inc. (NASDAQ:RNA) by 41.1% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 22,496 shares of the biotechnology company’s stock after selling 15,717 shares during the period. Moss Adams Wealth Advisors LLC’s holdings in Avidity Biosciences were worth $1,033,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its position in shares of Avidity Biosciences by 7.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,429,107 shares of the biotechnology company’s stock worth $189,592,000 after purchasing an additional 516,446 shares during the last quarter. Avoro Capital Advisors LLC increased its position in Avidity Biosciences by 11.7% in the 2nd quarter. Avoro Capital Advisors LLC now owns 6,505,000 shares of the biotechnology company’s stock worth $265,729,000 after buying an additional 680,000 shares during the period. RA Capital Management L.P. lifted its holdings in shares of Avidity Biosciences by 33.7% during the first quarter. RA Capital Management L.P. now owns 3,282,180 shares of the biotechnology company’s stock worth $83,761,000 after buying an additional 827,647 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of Avidity Biosciences by 4,661.3% in the first quarter. Janus Henderson Group PLC now owns 1,242,833 shares of the biotechnology company’s stock valued at $31,704,000 after acquiring an additional 1,216,730 shares during the period. Finally, D. E. Shaw & Co. Inc. grew its stake in shares of Avidity Biosciences by 2,263.7% in the second quarter. D. E. Shaw & Co. Inc. now owns 739,039 shares of the biotechnology company’s stock worth $30,190,000 after acquiring an additional 707,773 shares during the last quarter.

Insider Buying and Selling at Avidity Biosciences

In related news, CEO Sarah Boyce sold 32,880 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $44.00, for a total transaction of $1,446,720.00. Following the transaction, the chief executive officer now directly owns 234,663 shares of the company’s stock, valued at approximately $10,325,172. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Sarah Boyce sold 32,880 shares of Avidity Biosciences stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $44.00, for a total transaction of $1,446,720.00. Following the completion of the sale, the chief executive officer now owns 234,663 shares of the company’s stock, valued at approximately $10,325,172. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Arthur A. Levin sold 5,000 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $45.19, for a total transaction of $225,950.00. Following the completion of the transaction, the director now directly owns 14,830 shares in the company, valued at approximately $670,167.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 150,543 shares of company stock worth $6,762,692 over the last 90 days. Company insiders own 3.68% of the company’s stock.

Avidity Biosciences Price Performance

Shares of Avidity Biosciences stock opened at $50.45 on Friday. The firm has a market cap of $5.54 billion, a price-to-earnings ratio of -17.16 and a beta of 0.89. Avidity Biosciences, Inc. has a one year low of $4.82 and a one year high of $50.78. The stock’s 50-day moving average is $44.33 and its 200-day moving average is $37.25.

Avidity Biosciences (NASDAQ:RNA) last released its quarterly earnings results on Friday, August 9th. The biotechnology company reported ($0.65) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.11. The firm had revenue of $2.05 million during the quarter, compared to the consensus estimate of $7.09 million. Avidity Biosciences had a negative return on equity of 32.89% and a negative net margin of 2,381.82%. On average, equities analysts expect that Avidity Biosciences, Inc. will post -3.01 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on RNA shares. The Goldman Sachs Group assumed coverage on Avidity Biosciences in a research note on Tuesday, September 24th. They set a “buy” rating and a $59.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and set a $60.00 price objective on shares of Avidity Biosciences in a research note on Tuesday, August 13th. Evercore ISI reduced their target price on Avidity Biosciences from $54.00 to $53.00 and set an “outperform” rating on the stock in a report on Monday, August 26th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $96.00 price target on shares of Avidity Biosciences in a report on Monday, September 16th. Finally, Barclays began coverage on shares of Avidity Biosciences in a research report on Wednesday, August 28th. They set an “overweight” rating and a $63.00 price target on the stock. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $60.75.

About Avidity Biosciences

Avidity Biosciences, Inc, a biopharmaceutical company, engages in the delivery of RNA therapeutics. It develops antibody oligonucleotide conjugates (AOC) that are designed to treat diseases previously untreatable with RNA therapeutics. The company's lead product candidate AOC 1001 for the treatment of myotonic dystrophy type 1, a rare monogenic muscle disease that is in phase 1/2 clinical trial.