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

Avidity Biosciences, Inc. (NASDAQ:RNA) CEO Sarah Boyce sold 10,397 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 $297,250.23. Following the sale, the chief executive officer now directly owns 337,411 shares of the company’s stock, valued at approximately $9,646,580.49. The trade was a 2.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

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

Avidity Biosciences Stock Up 0.2 %

NASDAQ RNA traded up $0.05 on Thursday, reaching $30.13. The company had a trading volume of 1,145,046 shares, compared to its average volume of 1,351,486. The stock has a market capitalization of $3.59 billion, a PE ratio of -10.46 and a beta of 0.99. Avidity Biosciences, Inc. has a 12 month low of $10.12 and a 12 month high of $56.00. The firm’s 50 day moving average price is $34.38 and its 200 day moving average price is $41.09.

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

Analyst Ratings Changes

Several research analysts have recently commented on RNA shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Avidity Biosciences in a research note on Wednesday, November 13th. TD Cowen raised their target price on shares of Avidity Biosciences from $56.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Royal Bank of Canada reiterated an “outperform” rating and issued a $67.00 price target on shares of Avidity Biosciences in a research report on Tuesday. HC Wainwright restated a “buy” rating and set a $72.00 price objective on shares of Avidity Biosciences in a research report on Friday, January 10th. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $65.00 target price on shares of Avidity Biosciences in a report on Wednesday, November 13th. Ten analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $65.80.

Institutional Trading of Avidity Biosciences

Large investors have recently added to or reduced their stakes in the company. National Bank of Canada FI bought a new position in shares of Avidity Biosciences during the 3rd quarter valued at approximately $27,000. Allspring Global Investments Holdings LLC purchased a new stake in Avidity Biosciences during the third quarter valued at $30,000. Values First Advisors Inc. bought a new position in Avidity Biosciences during the third quarter valued at $32,000. Quarry LP grew its stake in shares of Avidity Biosciences by 566.7% in the 2nd quarter. Quarry LP now owns 2,000 shares of the biotechnology company’s stock worth $82,000 after buying an additional 1,700 shares in the last quarter. Finally, Quest Partners LLC increased its holdings in shares of Avidity Biosciences by 217.8% in the 3rd quarter. Quest Partners LLC now owns 2,031 shares of the biotechnology company’s stock worth $93,000 after buying an additional 1,392 shares during the last quarter.

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.