AtonRa Partners Sells 2,136 Shares of Avidity Biosciences, Inc. (NASDAQ:RNA)

AtonRa Partners decreased its position in Avidity Biosciences, Inc. (NASDAQ:RNA) by 11.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,834 shares of the biotechnology company’s stock after selling 2,136 shares during the quarter. AtonRa Partners’ holdings in Avidity Biosciences were worth $152,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in RNA. Alps Advisors Inc. boosted its holdings in Avidity Biosciences by 5.1% in the 3rd quarter. Alps Advisors Inc. now owns 54,730 shares of the biotechnology company’s stock valued at $349,000 after purchasing an additional 2,674 shares during the period. Nisa Investment Advisors LLC raised its position in shares of Avidity Biosciences by 15,900.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,200 shares of the biotechnology company’s stock valued at $29,000 after buying an additional 3,180 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Avidity Biosciences by 43.3% in the fourth quarter. Daiwa Securities Group Inc. now owns 10,537 shares of the biotechnology company’s stock valued at $95,000 after buying an additional 3,182 shares during the period. Mutual of America Capital Management LLC boosted its stake in shares of Avidity Biosciences by 2.5% in the third quarter. Mutual of America Capital Management LLC now owns 133,957 shares of the biotechnology company’s stock valued at $855,000 after buying an additional 3,323 shares during the period. Finally, Principal Financial Group Inc. grew its position in Avidity Biosciences by 19.7% during the third quarter. Principal Financial Group Inc. now owns 20,946 shares of the biotechnology company’s stock worth $134,000 after buying an additional 3,443 shares in the last quarter.

Analysts Set New Price Targets

Several brokerages have weighed in on RNA. Needham & Company LLC reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Avidity Biosciences in a report on Thursday, April 11th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $50.00 price objective on shares of Avidity Biosciences in a research report on Wednesday, January 3rd. Cantor Fitzgerald began coverage on shares of Avidity Biosciences in a research note on Thursday, March 14th. They set an “overweight” rating and a $60.00 price objective on the stock. Finally, Chardan Capital restated a “buy” rating and issued a $23.00 target price on shares of Avidity Biosciences in a research report on Thursday, February 29th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $36.33.

Insiders Place Their Bets

In other Avidity Biosciences news, Director Arthur A. Levin sold 5,000 shares of the company’s stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $22.82, for a total value of $114,100.00. Following the completion of the transaction, the director now owns 14,830 shares of the company’s stock, valued at approximately $338,420.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Arthur A. Levin sold 5,000 shares of Avidity Biosciences stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $22.82, for a total transaction of $114,100.00. Following the sale, the director now directly owns 14,830 shares in the company, valued at approximately $338,420.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sarah Boyce sold 84,000 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $21.39, for a total transaction of $1,796,760.00. Following the sale, the chief executive officer now directly owns 112,117 shares in the company, valued at $2,398,182.63. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 204,641 shares of company stock valued at $4,676,431. 2.00% of the stock is currently owned by insiders.

Avidity Biosciences Stock Performance

Avidity Biosciences stock traded down $0.01 during midday trading on Tuesday, reaching $24.69. The company’s stock had a trading volume of 133,101 shares, compared to its average volume of 1,146,307. Avidity Biosciences, Inc. has a 52 week low of $4.82 and a 52 week high of $27.66. The business has a 50-day moving average price of $22.36 and a 200-day moving average price of $13.49.

Avidity Biosciences (NASDAQ:RNA) last announced its quarterly earnings results on Wednesday, February 28th. The biotechnology company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.54) by ($0.25). The company had revenue of $2.19 million for the quarter, compared to the consensus estimate of $32.08 million. Avidity Biosciences had a negative net margin of 2,219.87% and a negative return on equity of 39.74%. As a group, analysts expect that Avidity Biosciences, Inc. will post -3.07 earnings per share for the current fiscal year.

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.