Fiera Capital Corp purchased a new position in shares of Avidity Biosciences, Inc. (NASDAQ:RNA - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 431,210 shares of the biotechnology company's stock, valued at approximately $19,805,000. Fiera Capital Corp owned about 0.39% of Avidity Biosciences at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Avidity Biosciences by 7.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,429,107 shares of the biotechnology company's stock valued at $189,592,000 after purchasing an additional 516,446 shares during the last quarter. Avoro Capital Advisors LLC lifted its holdings in shares of Avidity Biosciences by 11.7% in the 2nd quarter. Avoro Capital Advisors LLC now owns 6,505,000 shares of the biotechnology company's stock valued at $265,729,000 after purchasing an additional 680,000 shares during the last quarter. RA Capital Management L.P. lifted its holdings in shares of Avidity Biosciences by 33.7% in the 1st quarter. RA Capital Management L.P. now owns 3,282,180 shares of the biotechnology company's stock valued at $83,761,000 after purchasing an additional 827,647 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Avidity Biosciences by 4,661.3% in the 1st quarter. Janus Henderson Group PLC now owns 1,242,833 shares of the biotechnology company's stock valued at $31,704,000 after purchasing an additional 1,216,730 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its holdings in shares of Avidity Biosciences by 2,263.7% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 739,039 shares of the biotechnology company's stock valued at $30,190,000 after purchasing an additional 707,773 shares during the last quarter.
Insider Buying and Selling
In other Avidity Biosciences news, insider Teresa Mccarthy sold 13,153 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $44.00, for a total transaction of $578,732.00. Following the sale, the insider now owns 69,018 shares in the company, valued at approximately $3,036,792. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Avidity Biosciences news, insider Teresa Mccarthy sold 13,153 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $44.00, for a total transaction of $578,732.00. Following the sale, the insider now owns 69,018 shares in the company, valued at approximately $3,036,792. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sarah Boyce sold 32,880 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $44.00, for a total value of $1,446,720.00. Following the sale, the chief executive officer now owns 234,663 shares in the company, valued at approximately $10,325,172. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 127,543 shares of company stock worth $5,782,042 in the last quarter. Company insiders own 3.68% of the company's stock.
Wall Street Analysts Forecast Growth
RNA has been the subject of several research reports. Needham & Company LLC reissued a "buy" rating and issued a $60.00 target price on shares of Avidity Biosciences in a report on Thursday, October 31st. TD Cowen upped their price objective on Avidity Biosciences from $56.00 to $78.00 and gave the company a "buy" rating in a research note on Monday, October 21st. Barclays started coverage on Avidity Biosciences in a research note on Wednesday, August 28th. They set an "overweight" rating and a $63.00 price objective for the company. Evercore ISI reduced their price objective on Avidity Biosciences from $54.00 to $53.00 and set an "outperform" rating for the company in a research note on Monday, August 26th. Finally, Chardan Capital upped their price objective on Avidity Biosciences from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Avidity Biosciences presently has a consensus rating of "Buy" and an average target price of $63.22.
Check Out Our Latest Report on Avidity Biosciences
Avidity Biosciences Price Performance
NASDAQ RNA traded down $0.79 on Friday, hitting $46.72. 1,075,534 shares of the company's stock were exchanged, compared to its average volume of 1,309,118. The firm's 50-day moving average price is $44.65 and its two-hundred day moving average price is $39.40. Avidity Biosciences, Inc. has a fifty-two week low of $5.15 and a fifty-two week high of $50.78. The firm has a market cap of $5.13 billion, a price-to-earnings ratio of -16.22 and a beta of 0.91.
Avidity Biosciences (NASDAQ:RNA - Get Free Report) last released its quarterly earnings results on Friday, August 9th. The biotechnology company reported ($0.65) earnings per share for the quarter, topping analysts' consensus estimates of ($0.76) by $0.11. The business had revenue of $2.05 million for the quarter, compared to analysts' expectations of $7.09 million. Avidity Biosciences had a negative return on equity of 32.89% and a negative net margin of 2,381.82%. On average, research analysts predict that Avidity Biosciences, Inc. will post -2.94 earnings per share for the current fiscal year.
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.
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