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

Avidity Biosciences, Inc. (NASDAQ:RNA) insider Teresa Mccarthy sold 2,959 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $28.59, for a total transaction of $84,597.81. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 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 stock was sold at an average price of $41.14, for a total value of $1,028,500.00.

Avidity Biosciences Stock Down 1.5 %

Shares of NASDAQ RNA opened at $29.67 on Friday. Avidity Biosciences, Inc. has a 12 month low of $10.27 and a 12 month high of $56.00. The company has a market cap of $3.54 billion, a P/E ratio of -10.30 and a beta of 0.99. The business’s 50 day moving average is $34.13 and its two-hundred day moving average is $41.03.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. 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. TD Cowen raised their price target on shares of Avidity Biosciences from $56.00 to $78.00 and gave the company a “buy” rating in a report on Monday, October 21st. Chardan Capital reiterated a “buy” rating and issued a $65.00 price objective on shares of Avidity Biosciences in a report on Wednesday, November 13th. Royal Bank of Canada restated an “outperform” rating and set a $67.00 target price on shares of Avidity Biosciences in a report on Tuesday, January 21st. Finally, Needham & Company LLC reissued a “buy” rating and set a $60.00 price objective on shares of Avidity Biosciences in a report on Wednesday, November 13th. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Avidity Biosciences currently has a consensus rating of “Buy” and a consensus price target of $65.80.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RNA. National Bank of Canada FI bought a new stake in shares of Avidity Biosciences in the third quarter valued at about $27,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Avidity Biosciences in the 3rd quarter worth approximately $30,000. Values First Advisors Inc. bought a new stake in shares of Avidity Biosciences in the 3rd quarter worth approximately $32,000. Quarry LP grew its holdings in shares of Avidity Biosciences by 566.7% during the 2nd quarter. Quarry LP now owns 2,000 shares of the biotechnology company’s stock worth $82,000 after purchasing an additional 1,700 shares in the last quarter. Finally, Quest Partners LLC increased its position in shares of Avidity Biosciences by 217.8% during the third 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 during the period.

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.