Avidity Biosciences, Inc. (NASDAQ:RNA) CEO Sarah Boyce Sells 10,397 Shares

Avidity Biosciences, Inc. (NASDAQ:RNA) CEO Sarah Boyce sold 10,397 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $28.59, for a total transaction of $297,250.23. Following the transaction, the chief executive officer now owns 337,411 shares in the company, valued at $9,646,580.49. The trade was a 2.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

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

• On Wednesday, December 18th, Sarah Boyce sold 31,855 shares of Avidity Biosciences stock. The stock was sold at an average price of $32.66, for a total value of $1,040,384.30.

Avidity Biosciences Stock Performance

Shares of NASDAQ:RNA opened at $30.13 on Friday. Avidity Biosciences, Inc. has a 12 month low of $10.12 and a 12 month high of $56.00. The company’s fifty day simple moving average is $34.38 and its 200 day simple moving average is $41.09.

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

Institutional Trading of Avidity Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC grew its position in Avidity Biosciences by 4.3% in the third quarter. FMR LLC now owns 16,848,776 shares of the biotechnology company’s stock valued at $773,864,000 after purchasing an additional 689,729 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Avidity Biosciences by 84.9% during the 3rd quarter. Wellington Management Group LLP now owns 7,030,949 shares of the biotechnology company’s stock worth $322,931,000 after buying an additional 3,228,923 shares during the last quarter. RA Capital Management L.P. grew 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 valued at $289,378,000 after acquiring an additional 900,000 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Avidity Biosciences by 33.9% in the third quarter. Janus Henderson Group PLC now owns 4,896,166 shares of the biotechnology company’s stock valued at $224,774,000 after acquiring an additional 1,239,323 shares during the last quarter. Finally, State Street Corp raised its holdings in Avidity Biosciences by 41.7% during the third quarter. State Street Corp now owns 4,706,106 shares of the biotechnology company’s stock worth $216,151,000 after acquiring an additional 1,386,087 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on RNA shares. TD Cowen raised their price target on Avidity Biosciences from $56.00 to $78.00 and gave the company a “buy” rating in a report on Monday, October 21st. Needham & Company LLC restated a “buy” rating and issued a $60.00 price objective on shares of Avidity Biosciences in a report on Wednesday, November 13th. 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. HC Wainwright reaffirmed a “buy” rating and set a $72.00 price objective on shares of Avidity Biosciences in a research note on Friday, January 10th. Finally, Chardan Capital reissued a “buy” rating and set a $65.00 price objective on shares of Avidity Biosciences in a research note on Wednesday, November 13th. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $65.80.

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.