Teresa Mccarthy Sells 2,959 Shares of Avidity Biosciences, Inc. (NASDAQ:RNA) Stock

Avidity Biosciences, Inc. (NASDAQ:RNA) insider Teresa Mccarthy sold 2,959 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $28.59, for a total transaction of $84,597.81. Following the transaction, the insider now directly owns 104,908 shares in the company, valued at approximately $2,999,319.72. The trade was a 2.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Monday, December 16th, Teresa Mccarthy sold 25,000 shares of Avidity Biosciences stock. The stock was sold at an average price of $33.26, for a total transaction of $831,500.00.
• On Monday, November 18th, Teresa Mccarthy sold 25,000 shares of Avidity Biosciences stock. The shares were sold at an average price of $41.14, for a total transaction of $1,028,500.00.

Avidity Biosciences Stock Up 0.2 %

Shares of RNA stock opened at $30.13 on Friday. Avidity Biosciences, Inc. has a 1 year low of $10.12 and a 1 year high of $56.00. The firm’s fifty day simple moving average is $34.38 and its 200 day simple moving average is $41.09.

Avidity Biosciences (NASDAQ:RNA) last posted its quarterly earnings data 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. Avidity Biosciences had a negative net margin of 2,772.45% and a negative return on equity of 27.66%. The company had revenue of $2.34 million for the quarter, compared to the consensus estimate of $7.09 million. On average, analysts anticipate that Avidity Biosciences, Inc. will post -2.89 earnings per share for the current year.

Institutional Trading of Avidity Biosciences

Hedge funds have recently modified their holdings of the company. National Bank of Canada FI acquired a new position in shares of Avidity Biosciences in the third quarter valued at $27,000. Allspring Global Investments Holdings LLC bought a new stake in Avidity Biosciences in the 3rd quarter valued at $30,000. Values First Advisors Inc. bought a new stake in Avidity Biosciences in the 3rd quarter valued at $32,000. Quarry LP raised 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 valued at $82,000 after buying an additional 1,700 shares in the last quarter. Finally, Quest Partners LLC lifted its holdings in shares of Avidity Biosciences by 217.8% during the 3rd quarter. Quest Partners LLC now owns 2,031 shares of the biotechnology company’s stock worth $93,000 after acquiring an additional 1,392 shares during the period.

Analysts Set New Price Targets

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

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.