Avidity Biosciences, Inc. (NASDAQ:RNA) Insider Sells $84,597.81 in Stock

Avidity Biosciences, Inc. (NASDAQ:RNA) insider Teresa Mccarthy sold 2,959 shares of Avidity Biosciences stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $28.59, for a total value of $84,597.81. Following the sale, the insider now directly owns 104,908 shares in the company, valued at $2,999,319.72. This trade represents a 2.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Teresa Mccarthy also recently made the following trade(s):

• On Monday, December 16th, Teresa Mccarthy sold 25,000 shares of Avidity Biosciences stock. The shares were sold at an average price of $33.26, for a total value of $831,500.00.
• On Monday, November 18th, Teresa Mccarthy sold 25,000 shares of Avidity Biosciences stock. The shares were sold at an average price of $41.14, for a total value of $1,028,500.00.

Avidity Biosciences Trading Down 1.5 %

Shares of Avidity Biosciences stock opened at $29.67 on Friday. The stock has a 50 day moving average price of $34.13 and a 200-day moving average price of $41.03. Avidity Biosciences, Inc. has a one year low of $10.27 and a one year high of $56.00.

Avidity Biosciences (NASDAQ:RNA) last announced its earnings results on Thursday, November 7th. The biotechnology company reported ($0.65) EPS for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.14. Avidity Biosciences had a negative return on equity of 27.66% and a negative net margin of 2,772.45%. The firm had revenue of $2.34 million during the quarter, compared to analysts’ expectations of $7.09 million. Sell-side analysts expect that Avidity Biosciences, Inc. will post -2.89 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on RNA. HC Wainwright reissued a “buy” rating and set a $72.00 target price on shares of Avidity Biosciences in a research note on Friday, January 10th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $67.00 price objective on shares of Avidity Biosciences in a research note on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Avidity Biosciences in a research note on Wednesday, November 13th. TD Cowen lifted their price objective on Avidity Biosciences from $56.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Avidity Biosciences in a research note on Wednesday, November 13th. Ten analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $65.80.

Hedge Funds Weigh In On Avidity Biosciences

Large investors have recently bought and sold shares of the business. National Bank of Canada FI purchased a new position in Avidity Biosciences during the 3rd quarter valued at $27,000. Allspring Global Investments Holdings LLC purchased a new position in Avidity Biosciences during the 3rd quarter valued at $30,000. Values First Advisors Inc. bought a new stake in Avidity Biosciences during the 3rd quarter valued at $32,000. Quarry LP raised its position in Avidity Biosciences by 566.7% during the 2nd quarter. Quarry LP now owns 2,000 shares of the biotechnology company’s stock valued at $82,000 after purchasing an additional 1,700 shares in the last quarter. Finally, Quest Partners LLC raised its position in Avidity Biosciences by 217.8% during the 3rd quarter. Quest Partners LLC now owns 2,031 shares of the biotechnology company’s stock valued at $93,000 after purchasing an additional 1,392 shares in the last quarter.

Avidity Biosciences Company Profile

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.