Steward Partners Investment Advisory LLC Has $534,000 Stake in Avidity Biosciences, Inc. (NASDAQ:RNA)

Steward Partners Investment Advisory LLC lifted its stake in shares of Avidity Biosciences, Inc. (NASDAQ:RNAFree Report) by 202.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 59,000 shares of the biotechnology company’s stock after acquiring an additional 39,500 shares during the period. Steward Partners Investment Advisory LLC owned 0.08% of Avidity Biosciences worth $534,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Quest Partners LLC bought a new position in Avidity Biosciences in the fourth quarter worth approximately $211,000. Dynamic Technology Lab Private Ltd lifted its holdings in shares of Avidity Biosciences by 114.3% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 52,788 shares of the biotechnology company’s stock worth $478,000 after purchasing an additional 28,160 shares in the last quarter. Quadrant Capital Group LLC grew its position in Avidity Biosciences by 456.9% in the 4th quarter. Quadrant Capital Group LLC now owns 3,308 shares of the biotechnology company’s stock valued at $30,000 after purchasing an additional 2,714 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Avidity Biosciences by 61.4% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 41,166 shares of the biotechnology company’s stock valued at $394,000 after purchasing an additional 15,654 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Avidity Biosciences by 6.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 545,771 shares of the biotechnology company’s stock valued at $4,939,000 after buying an additional 30,674 shares in the last quarter.

Wall Street Analysts Forecast Growth

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

Get Our Latest Research Report on Avidity Biosciences

Insider Activity

In other Avidity Biosciences news, Director Arthur A. Levin sold 5,000 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $29.90, for a total value of $149,500.00. Following the completion of the sale, the director now directly owns 14,830 shares of the company’s stock, valued at $443,417. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Michael F. Maclean sold 75,000 shares of Avidity Biosciences stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $28.28, for a total value of $2,121,000.00. Following the completion of the transaction, the chief financial officer now directly owns 44,093 shares in the company, valued at approximately $1,246,950.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Arthur A. Levin sold 5,000 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $29.90, for a total transaction of $149,500.00. Following the sale, the director now directly owns 14,830 shares in the company, valued at approximately $443,417. The disclosure for this sale can be found here. Insiders sold 256,641 shares of company stock valued at $6,633,051 in the last three months. Company insiders own 3.68% of the company’s stock.

Avidity Biosciences Price Performance

RNA stock opened at $26.04 on Friday. The stock’s fifty day simple moving average is $26.11 and its two-hundred day simple moving average is $17.59. Avidity Biosciences, Inc. has a 1-year low of $4.82 and a 1-year high of $30.84.

Avidity Biosciences (NASDAQ:RNAGet Free Report) last issued its quarterly earnings results 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 company had revenue of $3.54 million for the quarter, compared to the consensus estimate of $7.09 million. On average, equities research analysts forecast that Avidity Biosciences, Inc. will post -3.1 earnings per share for the current fiscal year.

Avidity Biosciences Company Profile

(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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Institutional Ownership by Quarter for Avidity Biosciences (NASDAQ:RNA)

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