Avidity Biosciences, Inc. (NASDAQ:RNA) Insider Teresa Mccarthy Sells 25,000 Shares

Avidity Biosciences, Inc. (NASDAQ:RNA) insider Teresa Mccarthy sold 25,000 shares of Avidity Biosciences stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $41.14, for a total transaction of $1,028,500.00. Following the completion of the transaction, the insider now directly owns 94,018 shares of the company’s stock, valued at approximately $3,867,900.52. This trade represents a 21.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Wednesday, October 16th, Teresa Mccarthy sold 25,000 shares of Avidity Biosciences stock. The stock was sold at an average price of $48.52, for a total value of $1,213,000.00.
• On Monday, September 23rd, Teresa Mccarthy sold 13,153 shares of Avidity Biosciences stock. The stock was sold at an average price of $44.00, for a total value of $578,732.00.

Avidity Biosciences Price Performance

Shares of NASDAQ:RNA opened at $43.65 on Thursday. The business’s 50-day moving average is $45.39 and its 200-day moving average is $40.67. Avidity Biosciences, Inc. has a 1 year low of $5.68 and a 1 year high of $56.00.

Avidity Biosciences (NASDAQ:RNA) last posted its quarterly 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 net margin of 2,772.45% and a negative return on equity of 27.66%. The business had revenue of $2.34 million during the quarter, compared to analysts’ expectations of $7.09 million. Equities analysts anticipate that Avidity Biosciences, Inc. will post -2.84 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC increased its holdings in shares of Avidity Biosciences by 4.3% during the third quarter. FMR LLC now owns 16,848,776 shares of the biotechnology company’s stock valued at $773,864,000 after acquiring an additional 689,729 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Avidity Biosciences by 7.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,429,107 shares of the biotechnology company’s stock valued at $189,592,000 after purchasing an additional 516,446 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Avidity Biosciences by 84.9% during the third quarter. Wellington Management Group LLP now owns 7,030,949 shares of the biotechnology company’s stock valued at $322,931,000 after buying an additional 3,228,923 shares during the last quarter. Avoro Capital Advisors LLC increased its position in shares of Avidity Biosciences by 11.7% during the second quarter. Avoro Capital Advisors LLC now owns 6,505,000 shares of the biotechnology company’s stock worth $265,729,000 after acquiring an additional 680,000 shares in the last quarter. Finally, RA Capital Management L.P. raised its holdings in shares of Avidity Biosciences by 16.7% in the 3rd quarter. RA Capital Management L.P. now owns 6,300,408 shares of the biotechnology company’s stock worth $289,378,000 after acquiring an additional 900,000 shares during the last quarter.

Analyst Ratings Changes

A number of equities analysts have commented on RNA shares. Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 price objective on shares of Avidity Biosciences in a research report on Wednesday, November 13th. Evercore ISI decreased their price target on shares of Avidity Biosciences from $54.00 to $53.00 and set an “outperform” rating on the stock in a research note on Monday, August 26th. Chardan Capital restated a “buy” rating and set a $65.00 price objective on shares of Avidity Biosciences in a report on Wednesday, November 13th. Barclays initiated coverage on shares of Avidity Biosciences in a research report on Wednesday, August 28th. They set an “overweight” rating and a $63.00 target price on the stock. Finally, The Goldman Sachs Group began coverage on Avidity Biosciences in a research note on Tuesday, September 24th. They issued a “buy” rating and a $59.00 price target for the company. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Avidity Biosciences presently has a consensus rating of “Buy” and a consensus target price of $63.22.

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.