J.W. Cole Advisors Inc. Makes New $283,000 Investment in Avidity Biosciences, Inc. (NASDAQ:RNA)

J.W. Cole Advisors Inc. bought a new position in shares of Avidity Biosciences, Inc. (NASDAQ:RNA) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 31,292 shares of the biotechnology company’s stock, valued at approximately $283,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Alps Advisors Inc. lifted its holdings in shares of Avidity Biosciences by 5.1% during the third quarter. Alps Advisors Inc. now owns 54,730 shares of the biotechnology company’s stock worth $349,000 after buying an additional 2,674 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Avidity Biosciences by 15,900.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,200 shares of the biotechnology company’s stock worth $29,000 after buying an additional 3,180 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Avidity Biosciences by 43.3% during the fourth quarter. Daiwa Securities Group Inc. now owns 10,537 shares of the biotechnology company’s stock worth $95,000 after buying an additional 3,182 shares during the last quarter. Mutual of America Capital Management LLC lifted its holdings in shares of Avidity Biosciences by 2.5% during the third quarter. Mutual of America Capital Management LLC now owns 133,957 shares of the biotechnology company’s stock worth $855,000 after buying an additional 3,323 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Avidity Biosciences by 19.7% during the third quarter. Principal Financial Group Inc. now owns 20,946 shares of the biotechnology company’s stock worth $134,000 after buying an additional 3,443 shares during the last quarter.

Avidity Biosciences Stock Performance

Shares of NASDAQ RNA opened at $23.83 on Friday. The business has a fifty day simple moving average of $21.95 and a 200 day simple moving average of $13.14. Avidity Biosciences, Inc. has a one year low of $4.82 and a one year high of $27.66.

Avidity Biosciences (NASDAQ:RNA) last issued its earnings results on Wednesday, February 28th. The biotechnology company reported ($0.79) EPS for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.25). Avidity Biosciences had a negative net margin of 2,219.87% and a negative return on equity of 39.74%. The firm had revenue of $2.19 million during the quarter, compared to analyst estimates of $32.08 million. Analysts predict that Avidity Biosciences, Inc. will post -3.07 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Wells Fargo & Company reiterated an “overweight” rating and set a $50.00 price target on shares of Avidity Biosciences in a report on Wednesday, January 3rd. Chardan Capital reiterated a “buy” rating and set a $23.00 price target on shares of Avidity Biosciences in a report on Thursday, February 29th. Cantor Fitzgerald assumed coverage on Avidity Biosciences in a research note on Thursday, March 14th. They issued an “overweight” rating and a $60.00 target price for the company. Finally, Needham & Company LLC restated a “buy” rating and issued a $35.00 target price on shares of Avidity Biosciences in a research note on Thursday, April 11th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $36.33.

Insiders Place Their Bets

In other Avidity Biosciences news, Director Arthur A. Levin sold 27,641 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $22.03, for a total transaction of $608,931.23. Following the completion of the transaction, the director now directly owns 14,830 shares in the company, valued at $326,704.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Avidity Biosciences news, Director Arthur A. Levin sold 27,641 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $22.03, for a total transaction of $608,931.23. Following the completion of the transaction, the director now directly owns 14,830 shares in the company, valued at $326,704.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sarah Boyce sold 84,000 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $21.39, for a total value of $1,796,760.00. Following the sale, the chief executive officer now owns 112,117 shares in the company, valued at approximately $2,398,182.63. The disclosure for this sale can be found here. Insiders sold 204,641 shares of company stock worth $4,676,431 over the last three months. 2.00% of the stock is currently owned by corporate insiders.

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.