14,376 Shares in Avidity Biosciences, Inc. (NASDAQ:RNA) Acquired by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC bought a new stake in Avidity Biosciences, Inc. (NASDAQ:RNA - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 14,376 shares of the biotechnology company's stock, valued at approximately $660,000.

Several other large investors have also recently bought and sold shares of the business. D. E. Shaw & Co. Inc. grew its holdings in shares of Avidity Biosciences by 2,263.7% during the second quarter. D. E. Shaw & Co. Inc. now owns 739,039 shares of the biotechnology company's stock worth $30,190,000 after purchasing an additional 707,773 shares during the last quarter. Sofinnova Investments Inc. purchased a new position in shares of Avidity Biosciences during the second quarter worth about $875,000. Darwin Global Management Ltd. purchased a new position in shares of Avidity Biosciences during the second quarter worth about $8,108,000. American Century Companies Inc. grew its holdings in shares of Avidity Biosciences by 18.5% during the second quarter. American Century Companies Inc. now owns 164,631 shares of the biotechnology company's stock worth $6,725,000 after purchasing an additional 25,663 shares during the last quarter. Finally, Bayesian Capital Management LP purchased a new position in shares of Avidity Biosciences during the first quarter worth about $949,000.

Analyst Ratings Changes

Several equities research analysts recently weighed in on RNA shares. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $96.00 price target on shares of Avidity Biosciences in a report on Monday, September 16th. Chardan Capital reaffirmed a "buy" rating and issued a $65.00 target price on shares of Avidity Biosciences in a report on Wednesday. Barclays assumed coverage on shares of Avidity Biosciences in a research note on Wednesday, August 28th. They set an "overweight" rating and a $63.00 price target on the stock. TD Cowen lifted their price objective on Avidity Biosciences from $56.00 to $78.00 and gave the company a "buy" rating in a report on Monday, October 21st. Finally, The Goldman Sachs Group started coverage on Avidity Biosciences in a research note on Tuesday, September 24th. They set a "buy" rating and a $59.00 target price for the company. Nine analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $63.22.

Insider Buying and Selling at Avidity Biosciences

In other news, Director Arthur A. Levin sold 5,000 shares of the company's stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $46.63, for a total transaction of $233,150.00. Following the completion of the transaction, the director now owns 14,830 shares of the company's stock, valued at $691,522.90. This represents a 25.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Teresa Mccarthy sold 25,000 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $48.52, for a total transaction of $1,213,000.00. Following the sale, the insider now directly owns 94,018 shares of the company's stock, valued at approximately $4,561,753.36. This trade represents a 21.01 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 127,543 shares of company stock worth $5,782,042. Corporate insiders own 3.68% of the company's stock.

Avidity Biosciences Trading Down 15.6 %

Avidity Biosciences stock opened at $42.18 on Friday. Avidity Biosciences, Inc. has a 52 week low of $5.68 and a 52 week high of $56.00. The firm's 50-day simple moving average is $45.26 and its 200 day simple moving average is $40.31.

Avidity Biosciences (NASDAQ:RNA - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The biotechnology company reported ($0.65) EPS for the quarter, topping the consensus estimate of ($0.79) by $0.14. The business had revenue of $2.34 million for the quarter, compared to analyst estimates of $7.09 million. Avidity Biosciences had a negative net margin of 2,772.45% and a negative return on equity of 27.66%. As a group, sell-side analysts predict that Avidity Biosciences, Inc. will post -2.9 EPS for the current fiscal year.

About Avidity Biosciences

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.