Avidity Biosciences, Inc. (NASDAQ:RNA) CEO Sarah Boyce Sells 31,540 Shares

Avidity Biosciences, Inc. (NASDAQ:RNA) CEO Sarah Boyce sold 31,540 shares of the stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $31.06, for a total value of $979,632.40. Following the completion of the sale, the chief executive officer now owns 305,871 shares of the company’s stock, valued at approximately $9,500,353.26. This trade represents a 9.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Sarah Boyce also recently made the following trade(s):

• On Tuesday, January 21st, Sarah Boyce sold 10,397 shares of Avidity Biosciences stock. The stock was sold at an average price of $28.59, for a total value of $297,250.23.

Avidity Biosciences Stock Up 0.0 %

Shares of RNA opened at $30.84 on Friday. The business has a 50-day simple moving average of $31.11 and a two-hundred day simple moving average of $37.47. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of -10.71 and a beta of 1.02. Avidity Biosciences, Inc. has a 52 week low of $21.56 and a 52 week high of $56.00.

Avidity Biosciences (NASDAQ:RNA) last issued its quarterly earnings results on Thursday, February 27th. The biotechnology company reported ($0.80) EPS for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.04). The company had revenue of $2.97 million during the quarter, compared to analysts’ expectations of $1.74 million. Avidity Biosciences had a negative return on equity of 27.66% and a negative net margin of 2,772.45%. On average, equities analysts anticipate that Avidity Biosciences, Inc. will post -2.89 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RNA has been the subject of a number of research analyst reports. Needham & Company LLC restated a “buy” rating and issued a $60.00 target price on shares of Avidity Biosciences in a research note on Monday, March 17th. Royal Bank of Canada restated an “outperform” rating and issued a $67.00 target price on shares of Avidity Biosciences in a research note on Tuesday, January 21st. Chardan Capital reiterated a “buy” rating and set a $65.00 price objective on shares of Avidity Biosciences in a research note on Monday, March 17th. BMO Capital Markets assumed coverage on Avidity Biosciences in a research note on Wednesday, March 12th. They set an “outperform” rating and a $72.00 price objective for the company. Finally, Citigroup assumed coverage on Avidity Biosciences in a report on Thursday, March 13th. They issued a “buy” rating and a $70.00 target price for the company. Thirteen research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $66.69.

Institutional Trading of Avidity Biosciences

Hedge funds and other institutional investors have recently bought and sold shares of the stock. National Bank of Canada FI purchased a new stake in Avidity Biosciences in the third quarter worth about $27,000. TD Waterhouse Canada Inc. boosted its stake in shares of Avidity Biosciences by 646.3% in the fourth quarter. TD Waterhouse Canada Inc. now owns 1,000 shares of the biotechnology company’s stock worth $29,000 after acquiring an additional 866 shares during the period. Van ECK Associates Corp bought a new position in shares of Avidity Biosciences in the fourth quarter worth about $38,000. Headlands Technologies LLC bought a new position in shares of Avidity Biosciences in the fourth quarter worth about $60,000. Finally, GF Fund Management CO. LTD. bought a new position in shares of Avidity Biosciences in the fourth quarter worth about $73,000.

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.