Nwam LLC Acquires 9,265 Shares of Avidity Biosciences, Inc. (NASDAQ:RNA)

Nwam LLC grew its holdings in Avidity Biosciences, Inc. (NASDAQ:RNA) by 43.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 30,765 shares of the biotechnology company’s stock after buying an additional 9,265 shares during the quarter. Nwam LLC’s holdings in Avidity Biosciences were worth $341,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of RNA. Price T Rowe Associates Inc. MD lifted its holdings in Avidity Biosciences by 29.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,707,287 shares of the biotechnology company’s stock worth $148,835,000 after purchasing an additional 1,538,264 shares in the last quarter. Cowen AND Company LLC boosted its position in shares of Avidity Biosciences by 22.6% in the second quarter. Cowen AND Company LLC now owns 5,629,103 shares of the biotechnology company’s stock valued at $62,427,000 after acquiring an additional 1,036,137 shares during the period. Morgan Stanley grew its stake in Avidity Biosciences by 1,171.8% during the fourth quarter. Morgan Stanley now owns 1,024,852 shares of the biotechnology company’s stock valued at $22,741,000 after acquiring an additional 944,272 shares in the last quarter. State Street Corp increased its holdings in Avidity Biosciences by 22.6% during the 1st quarter. State Street Corp now owns 4,377,060 shares of the biotechnology company’s stock worth $67,188,000 after acquiring an additional 806,933 shares during the period. Finally, RTW Investments LP lifted its stake in Avidity Biosciences by 13.9% in the 1st quarter. RTW Investments LP now owns 6,387,178 shares of the biotechnology company’s stock worth $98,043,000 after purchasing an additional 781,612 shares in the last quarter.

Avidity Biosciences Stock Performance

Avidity Biosciences stock opened at $6.37 on Friday. Avidity Biosciences, Inc. has a fifty-two week low of $4.82 and a fifty-two week high of $25.74. The stock has a market cap of $472.02 million, a P/E ratio of -2.13 and a beta of 0.10. The firm’s fifty day moving average price is $6.04 and its 200-day moving average price is $8.76.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on RNA. Credit Suisse Group restated an “outperform” rating and set a $30.00 price target on shares of Avidity Biosciences in a research report on Wednesday, August 9th. Needham & Company LLC restated a “buy” rating and set a $35.00 target price on shares of Avidity Biosciences in a research report on Wednesday, August 9th. Finally, Chardan Capital lowered their price target on Avidity Biosciences from $27.00 to $23.00 and set a “buy” rating on the stock in a report on Wednesday, August 9th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $38.17.

Avidity Biosciences Profile

Avidity Biosciences, Inc, a biopharmaceutical company, engages in the development of oligonucleotide-based therapies. It develops antibody oligonucleotide conjugates (AOC) that are designed to treat a range of serious diseases. The company's lead product candidate AOC 1001 for the treatment of myotonic dystrophy type 1, a rare monogenic muscle disease is under phase 1/2 clinical trial.