Avidity Biosciences, Inc. (NASDAQ:RNA) Shares Acquired by nVerses Capital LLC

nVerses Capital LLC boosted its stake in Avidity Biosciences, Inc. (NASDAQ:RNA) by 25.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,400 shares of the biotechnology company’s stock after buying an additional 700 shares during the period. nVerses Capital LLC’s holdings in Avidity Biosciences were worth $139,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. State Board of Administration of Florida Retirement System boosted its holdings in shares of Avidity Biosciences by 4.5% in 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 acquiring an additional 920 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in Avidity Biosciences by 1.7% in the fourth quarter. Los Angeles Capital Management LLC now owns 60,287 shares of the biotechnology company’s stock worth $546,000 after purchasing an additional 1,030 shares during the period. Nisa Investment Advisors LLC boosted its stake in Avidity Biosciences by 32.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,399 shares of the biotechnology company’s stock valued at $180,000 after purchasing an additional 1,076 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its position in shares of 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 purchasing an additional 1,777 shares during the period. Finally, ProShare Advisors LLC raised its stake in shares of 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 buying an additional 1,898 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on RNA shares. Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 target price on shares of Avidity Biosciences in a research note on Tuesday, August 13th. Chardan Capital raised their price objective on shares of Avidity Biosciences from $45.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Barclays assumed coverage on shares of Avidity Biosciences in a report on Wednesday, August 28th. They issued an “overweight” rating and a $63.00 target price on the stock. Bank of America raised their target price on shares of Avidity Biosciences from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, June 13th. Finally, Evercore ISI dropped their price target on Avidity Biosciences from $54.00 to $53.00 and set an “outperform” rating on the stock in a report on Monday, August 26th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $55.86.

Insider Transactions at Avidity Biosciences

In related news, CEO Sarah Boyce sold 164,233 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $40.08, for a total transaction of $6,582,458.64. Following the transaction, the chief executive officer now directly owns 112,117 shares of the company’s stock, valued at $4,493,649.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Sarah Boyce sold 164,233 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $40.08, for a total transaction of $6,582,458.64. Following the transaction, the chief executive officer now directly owns 112,117 shares of the company’s stock, valued at $4,493,649.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael F. Maclean sold 104,245 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $35.72, for a total transaction of $3,723,631.40. Following the completion of the sale, the chief financial officer now owns 44,093 shares of the company’s stock, valued at approximately $1,575,001.96. The disclosure for this sale can be found here. Insiders sold a total of 379,478 shares of company stock valued at $14,679,680 over the last quarter. Company insiders own 3.68% of the company’s stock.

Avidity Biosciences Price Performance

Shares of RNA opened at $44.00 on Tuesday. The company has a 50-day moving average of $43.34 and a two-hundred day moving average of $31.75. The stock has a market cap of $4.21 billion, a price-to-earnings ratio of -14.92 and a beta of 0.90. Avidity Biosciences, Inc. has a one year low of $4.82 and a one year high of $48.80.

Avidity Biosciences (NASDAQ:RNA) last posted its quarterly earnings data on Friday, August 9th. The biotechnology company reported ($0.65) EPS for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.11. Avidity Biosciences had a negative net margin of 2,381.82% and a negative return on equity of 32.89%. The firm had revenue of $2.05 million during the quarter, compared to analyst estimates of $7.09 million. Analysts anticipate that Avidity Biosciences, Inc. will post -2.96 earnings per share for the current year.

Avidity Biosciences Company Profile

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.