Sarah Boyce Sells 28,000 Shares of Avidity Biosciences, Inc. (NASDAQ:RNA) Stock

Avidity Biosciences, Inc. (NASDAQ:RNAGet Free Report) CEO Sarah Boyce sold 28,000 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $27.42, for a total value of $767,760.00. Following the sale, the chief executive officer now owns 112,117 shares in the company, valued at $3,074,248.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

  • On Tuesday, May 7th, Sarah Boyce sold 28,000 shares of Avidity Biosciences stock. The shares were sold at an average price of $25.54, for a total value of $715,120.00.
  • On Tuesday, March 12th, Sarah Boyce sold 28,000 shares of Avidity Biosciences stock. The shares were sold at an average price of $22.63, for a total transaction of $633,640.00.
  • On Friday, March 8th, Sarah Boyce sold 84,000 shares of Avidity Biosciences stock. The stock was sold at an average price of $21.39, for a total transaction of $1,796,760.00.

Avidity Biosciences Trading Down 6.8 %

RNA opened at $26.04 on Friday. The stock has a market capitalization of $2.49 billion, a P/E ratio of -8.83 and a beta of 0.81. The stock has a 50-day moving average price of $26.11 and a 200-day moving average price of $17.59. Avidity Biosciences, Inc. has a 12-month low of $4.82 and a 12-month high of $30.84.

Avidity Biosciences (NASDAQ:RNAGet Free Report) last announced its quarterly earnings data on Wednesday, May 15th. The biotechnology company reported ($0.79) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.02. Avidity Biosciences had a negative net margin of 2,103.78% and a negative return on equity of 37.98%. The firm had revenue of $3.54 million during the quarter, compared to analyst estimates of $7.09 million. On average, equities research analysts predict that Avidity Biosciences, Inc. will post -3.1 EPS for the current year.

Analyst Upgrades and Downgrades

RNA has been the subject of a number of recent analyst reports. Needham & Company LLC restated a “buy” rating and set a $35.00 price target on shares of Avidity Biosciences in a research report on Friday, May 10th. Chardan Capital restated a “buy” rating and set a $33.00 target price on shares of Avidity Biosciences in a research report on Friday, May 10th. Cantor Fitzgerald began coverage on Avidity Biosciences in a report on Thursday, March 14th. They issued an “overweight” rating and a $60.00 price target on the stock. Finally, Bank of America started coverage on Avidity Biosciences in a report on Friday, May 3rd. They set a “buy” rating and a $40.00 price objective for the company. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Avidity Biosciences has a consensus rating of “Buy” and an average target price of $41.33.

Check Out Our Latest Research Report on RNA

Institutional Trading of Avidity Biosciences

Institutional investors have recently added to or reduced their stakes in the business. State Board of Administration of Florida Retirement System boosted its stake in shares of Avidity Biosciences by 4.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 21,186 shares of the biotechnology company’s stock valued at $541,000 after purchasing an additional 920 shares during the period. Los Angeles Capital Management LLC boosted its position in Avidity Biosciences by 1.7% during the 4th quarter. Los Angeles Capital Management LLC now owns 60,287 shares of the biotechnology company’s stock valued at $546,000 after buying an additional 1,030 shares during the period. Hennion & Walsh Asset Management Inc. boosted its position in Avidity Biosciences by 2.5% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 72,972 shares of the biotechnology company’s stock valued at $1,862,000 after buying an additional 1,777 shares during the period. ProShare Advisors LLC grew its holdings in Avidity Biosciences by 11.2% in the 1st quarter. ProShare Advisors LLC now owns 18,878 shares of the biotechnology company’s stock worth $482,000 after acquiring an additional 1,898 shares during the last quarter. Finally, Alps Advisors Inc. raised its stake 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 valued at $349,000 after acquiring an additional 2,674 shares during the last quarter.

About Avidity Biosciences

(Get Free Report)

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.

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