Avidity Biosciences, Inc. (NASDAQ:RNA) Insider Teresa Mccarthy Sells 2,959 Shares of Stock

Avidity Biosciences, Inc. (NASDAQ:RNA) insider Teresa Mccarthy sold 2,959 shares of Avidity Biosciences stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $28.59, for a total transaction of $84,597.81. Following the sale, the insider now owns 104,908 shares in the company, valued at approximately $2,999,319.72. This represents a 2.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, December 16th, Teresa Mccarthy sold 25,000 shares of Avidity Biosciences stock. The stock was sold at an average price of $33.26, for a total transaction 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 transaction of $1,028,500.00.

Avidity Biosciences Stock Performance

NASDAQ RNA opened at $30.13 on Friday. Avidity Biosciences, Inc. has a 1 year low of $10.12 and a 1 year high of $56.00. The stock’s 50-day moving average price is $34.38 and its two-hundred day moving average price is $41.09.

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

Institutional Trading of Avidity Biosciences

Hedge funds have recently modified their holdings of the business. American Century Companies Inc. boosted its holdings in shares of Avidity Biosciences by 18.5% during the second quarter. American Century Companies Inc. now owns 164,631 shares of the biotechnology company’s stock worth $6,725,000 after purchasing an additional 25,663 shares during the period. Amalgamated Bank lifted its position in Avidity Biosciences by 39.0% in the 2nd quarter. Amalgamated Bank now owns 3,497 shares of the biotechnology company’s stock worth $143,000 after buying an additional 982 shares in the last quarter. Public Employees Retirement Association of Colorado acquired a new stake in shares of Avidity Biosciences during the 2nd quarter valued at $319,000. Sei Investments Co. grew its holdings in shares of Avidity Biosciences by 19.3% during the 2nd quarter. Sei Investments Co. now owns 43,721 shares of the biotechnology company’s stock valued at $1,786,000 after acquiring an additional 7,086 shares in the last quarter. Finally, Xponance Inc. acquired a new position in shares of Avidity Biosciences in the second quarter worth $262,000.

Analyst Ratings Changes

A number of equities research analysts have weighed in on RNA shares. TD Cowen upped their target price on Avidity Biosciences from $56.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. HC Wainwright restated a “buy” rating and issued a $72.00 price objective on shares of Avidity Biosciences in a report on Friday, January 10th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $67.00 target price on shares of Avidity Biosciences in a report on Tuesday. Chardan Capital reissued a “buy” rating and issued a $65.00 price target on shares of Avidity Biosciences in a report on Wednesday, November 13th. Finally, 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. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Avidity Biosciences currently has an average rating of “Buy” and an average target price of $65.80.

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.