Vanguard Group Inc. grew its position in Avidity Biosciences, Inc. (NASDAQ:RNA - Free Report) by 2.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,431,911 shares of the biotechnology company's stock after purchasing an additional 205,027 shares during the period. Vanguard Group Inc. owned about 7.91% of Avidity Biosciences worth $274,280,000 as of its most recent filing with the SEC.
Several other large investors have also made changes to their positions in RNA. National Bank of Canada FI bought a new stake in Avidity Biosciences during the third quarter worth about $27,000. Van ECK Associates Corp acquired a new stake in Avidity Biosciences during the 4th quarter valued at $38,000. KBC Group NV raised its position in Avidity Biosciences by 99.0% in the 4th quarter. KBC Group NV now owns 4,474 shares of the biotechnology company's stock valued at $130,000 after purchasing an additional 2,226 shares during the last quarter. US Bancorp DE boosted its stake in Avidity Biosciences by 25.2% in the fourth quarter. US Bancorp DE now owns 6,568 shares of the biotechnology company's stock worth $191,000 after purchasing an additional 1,324 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of Avidity Biosciences during the fourth quarter worth $210,000.
Insiders Place Their Bets
In other news, insider Kathleen P. Gallagher sold 5,875 shares of the firm's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $27.83, for a total transaction of $163,501.25. Following the sale, the insider now owns 50,554 shares of the company's stock, valued at $1,406,917.82. This trade represents a 10.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sarah Boyce sold 10,397 shares of Avidity Biosciences stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $28.59, for a total value of $297,250.23. Following the transaction, the chief executive officer now owns 337,411 shares in the company, valued at $9,646,580.49. This trade represents a 2.99 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 79,318 shares of company stock worth $2,405,390. Company insiders own 3.68% of the company's stock.
Avidity Biosciences Stock Performance
NASDAQ:RNA traded up $0.72 during mid-day trading on Wednesday, hitting $24.80. The company had a trading volume of 3,598,453 shares, compared to its average volume of 1,384,383. Avidity Biosciences, Inc. has a fifty-two week low of $21.54 and a fifty-two week high of $56.00. The firm has a market cap of $2.98 billion, a P/E ratio of -8.61 and a beta of 1.01. The business's fifty day moving average is $30.62 and its two-hundred day moving average is $36.06.
Avidity Biosciences (NASDAQ:RNA - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The biotechnology company reported ($0.80) earnings per share for the quarter, missing analysts' consensus estimates of ($0.76) by ($0.04). The firm had revenue of $2.97 million during the quarter, compared to analyst estimates of $1.74 million. Avidity Biosciences had a negative net margin of 2,772.45% and a negative return on equity of 27.66%. Equities analysts forecast that Avidity Biosciences, Inc. will post -2.89 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on RNA shares. BMO Capital Markets assumed coverage on shares of Avidity Biosciences in a research report on Wednesday, March 12th. They set an "outperform" rating and a $72.00 price target on the stock. Barclays reduced their target price on shares of Avidity Biosciences from $63.00 to $57.00 and set an "overweight" rating on the stock in a research report on Friday, February 28th. Royal Bank of Canada reissued an "outperform" rating and issued a $67.00 price target on shares of Avidity Biosciences in a report on Tuesday, January 21st. HC Wainwright reaffirmed a "buy" rating and set a $72.00 price objective on shares of Avidity Biosciences in a report on Monday, March 17th. Finally, Bank of America lowered their target price on Avidity Biosciences from $51.00 to $48.00 and set a "buy" rating for the company in a research note on Monday, March 10th. Thirteen analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $66.69.
Check Out Our Latest Stock Analysis on Avidity Biosciences
About Avidity Biosciences
(
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.
See Also
Before you consider Avidity Biosciences, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Avidity Biosciences wasn't on the list.
While Avidity Biosciences currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of ten stocks that are set to soar in Spring 2025, despite the threat of tariffs and other economic uncertainty. These ten stocks are incredibly resilient and are likely to thrive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
