China Universal Asset Management Co. Ltd. Has $1.04 Million Holdings in Avidity Biosciences, Inc. (NASDAQ:RNA)

China Universal Asset Management Co. Ltd. lifted its position in Avidity Biosciences, Inc. (NASDAQ:RNA) by 100.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,526 shares of the biotechnology company’s stock after buying an additional 11,291 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Avidity Biosciences were worth $1,035,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in RNA. Avoro Capital Advisors LLC increased its position in Avidity Biosciences by 132.1% during the first quarter. Avoro Capital Advisors LLC now owns 5,825,000 shares of the biotechnology company’s stock worth $148,654,000 after buying an additional 3,315,000 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Avidity Biosciences by 4,661.3% during the 1st quarter. Janus Henderson Group PLC now owns 1,242,833 shares of the biotechnology company’s stock worth $31,704,000 after acquiring an additional 1,216,730 shares during the last quarter. RA Capital Management L.P. raised its stake in Avidity Biosciences by 33.7% in the 1st quarter. RA Capital Management L.P. now owns 3,282,180 shares of the biotechnology company’s stock valued at $83,761,000 after acquiring an additional 827,647 shares during the period. D. E. Shaw & Co. Inc. lifted its holdings in Avidity Biosciences by 2,263.7% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 739,039 shares of the biotechnology company’s stock valued at $30,190,000 after purchasing an additional 707,773 shares during the last quarter. Finally, Farallon Capital Management LLC bought a new position in Avidity Biosciences during the first quarter worth $15,467,000.

Insider Activity

In related news, CEO Sarah Boyce sold 28,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $43.35, for a total transaction of $1,213,800.00. Following the completion of the sale, the chief executive officer now directly owns 205,043 shares in the company, valued at $8,888,614.05. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Avidity Biosciences news, Director Arthur A. Levin sold 5,000 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $45.73, for a total transaction of $228,650.00. Following the sale, the director now owns 14,830 shares of the company’s stock, valued at approximately $678,175.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sarah Boyce sold 28,000 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $43.35, for a total value of $1,213,800.00. Following the completion of the transaction, the chief executive officer now owns 205,043 shares of the company’s stock, valued at $8,888,614.05. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 155,543 shares of company stock worth $6,995,842. Insiders own 3.68% of the company’s stock.

Avidity Biosciences Stock Down 2.5 %

RNA stock opened at $44.57 on Wednesday. The company’s 50-day moving average price is $44.47 and its two-hundred day moving average price is $38.42. The firm has a market cap of $4.89 billion, a P/E ratio of -15.16 and a beta of 0.89. Avidity Biosciences, Inc. has a 12 month low of $4.82 and a 12 month high of $50.78.

Avidity Biosciences (NASDAQ:RNA) last announced its quarterly earnings data on Friday, August 9th. The biotechnology company reported ($0.65) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.11. Avidity Biosciences had a negative net margin of 2,381.82% and a negative return on equity of 32.89%. The business had revenue of $2.05 million for the quarter, compared to analysts’ expectations of $7.09 million. Equities analysts predict that Avidity Biosciences, Inc. will post -2.99 EPS for the current year.

Wall Street Analysts Forecast Growth

RNA has been the topic of several research analyst reports. Chardan Capital increased their price objective on shares of Avidity Biosciences from $45.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Needham & Company LLC reiterated a “buy” rating and set a $60.00 price objective on shares of Avidity Biosciences in a research report on Tuesday, August 13th. Barclays initiated coverage on shares of Avidity Biosciences in a research note on Wednesday, August 28th. They issued an “overweight” rating and a $63.00 price target on the stock. The Goldman Sachs Group began coverage on shares of Avidity Biosciences in a research note on Tuesday, September 24th. They issued a “buy” rating and a $59.00 price objective for the company. Finally, Evercore ISI decreased their target price on shares of Avidity Biosciences from $54.00 to $53.00 and set an “outperform” rating on the stock in a research report on Monday, August 26th. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $62.67.

Avidity Biosciences 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.