Avidity Biosciences, Inc. (NASDAQ:RNA – Get Free Report) Director Arthur A. Levin sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The shares were 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 owns 14,830 shares of the company’s stock, valued at $443,417. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Avidity Biosciences Trading Down 7.3 %
RNA stock opened at $27.47 on Friday. Avidity Biosciences, Inc. has a 12-month low of $4.82 and a 12-month high of $30.84. The business’s fifty day moving average price is $25.54 and its 200 day moving average price is $16.11.
Avidity Biosciences (NASDAQ:RNA – Get Free Report) last released its earnings results on Wednesday, May 15th. The biotechnology company reported ($0.79) EPS for the quarter, topping the consensus estimate of ($0.81) by $0.02. Avidity Biosciences had a negative return on equity of 37.98% and a negative net margin of 2,103.78%. The firm had revenue of $3.54 million during the quarter, compared to analysts’ expectations of $7.09 million. As a group, equities analysts anticipate that Avidity Biosciences, Inc. will post -3.1 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC boosted its position in shares of Avidity Biosciences by 4.6% during the 3rd quarter. FMR LLC now owns 11,114,431 shares of the biotechnology company’s stock worth $70,910,000 after acquiring an additional 491,567 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Avidity Biosciences by 7.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,429,107 shares of the biotechnology company’s stock worth $189,592,000 after acquiring an additional 516,446 shares in the last quarter. Avoro Capital Advisors LLC boosted its position in shares of Avidity Biosciences by 132.1% during the 1st quarter. Avoro Capital Advisors LLC now owns 5,825,000 shares of the biotechnology company’s stock worth $148,654,000 after acquiring an additional 3,315,000 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Avidity Biosciences by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 4,014,490 shares of the biotechnology company’s stock worth $25,612,000 after acquiring an additional 47,305 shares in the last quarter. Finally, RA Capital Management L.P. boosted its position in shares of Avidity Biosciences by 33.7% during the 1st quarter. RA Capital Management L.P. now owns 3,282,180 shares of the biotechnology company’s stock worth $83,761,000 after acquiring an additional 827,647 shares in the last quarter.
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.
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