Avidity Biosciences, Inc. (NASDAQ:RNA) Insider Kathleen P. Gallagher Sells 5,875 Shares of Stock

Avidity Biosciences, Inc. (NASDAQ:RNA) insider Kathleen P. Gallagher sold 5,875 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $32.16, for a total transaction of $188,940.00. Following the sale, the insider now owns 50,554 shares in the company, valued at $1,625,816.64. This represents a 10.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Avidity Biosciences Trading Up 4.0 %

NASDAQ RNA opened at $34.68 on Thursday. Avidity Biosciences, Inc. has a 12-month low of $11.47 and a 12-month high of $56.00. The firm’s 50 day moving average is $32.40 and its 200-day moving average is $40.34.

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. TD Cowen boosted their price objective 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. HC Wainwright reissued a “buy” rating and issued a $72.00 target price on shares of Avidity Biosciences in a research report on Friday, January 10th. Needham & Company LLC reissued a “buy” rating and issued a $60.00 target price on shares of Avidity Biosciences in a research report on Wednesday, November 13th. Royal Bank of Canada reissued an “outperform” rating and issued a $67.00 target price on shares of Avidity Biosciences in a research report on Tuesday, January 21st. Finally, Chardan Capital reissued a “buy” rating and issued a $65.00 target price on shares of Avidity Biosciences in a research report on Wednesday, November 13th. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat, Avidity Biosciences presently has a consensus rating of “Buy” and an average price target of $65.80.

Institutional Trading of Avidity Biosciences

Several large investors have recently modified their holdings of the stock. National Bank of Canada FI bought a new stake in shares of Avidity Biosciences during the 3rd quarter worth $27,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Avidity Biosciences during the 3rd quarter worth $30,000. Values First Advisors Inc. purchased a new stake in Avidity Biosciences in the 3rd quarter worth about $32,000. Van ECK Associates Corp purchased a new stake in Avidity Biosciences in the 4th quarter worth about $38,000. Finally, Quest Partners LLC increased its holdings in 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 acquiring an additional 1,392 shares during the last quarter.

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.