7,598 Shares in Avidity Biosciences, Inc. (NASDAQ:RNA) Bought by Aaron Wealth Advisors LLC

Aaron Wealth Advisors LLC acquired a new stake in Avidity Biosciences, Inc. (NASDAQ:RNA) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 7,598 shares of the biotechnology company’s stock, valued at approximately $349,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RNA. Teamwork Financial Advisors LLC acquired a new stake in shares of Avidity Biosciences during the 3rd quarter valued at about $322,000. Creative Planning boosted its position in Avidity Biosciences by 76.5% during the third quarter. Creative Planning now owns 23,806 shares of the biotechnology company’s stock worth $1,093,000 after purchasing an additional 10,319 shares in the last quarter. Quarry LP grew its holdings in Avidity Biosciences by 566.7% in the second quarter. Quarry LP now owns 2,000 shares of the biotechnology company’s stock valued at $82,000 after purchasing an additional 1,700 shares during the period. Algert Global LLC increased its position in shares of Avidity Biosciences by 32.5% in the second quarter. Algert Global LLC now owns 42,563 shares of the biotechnology company’s stock valued at $1,739,000 after buying an additional 10,443 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Avidity Biosciences by 18.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 272,762 shares of the biotechnology company’s stock worth $11,142,000 after buying an additional 42,636 shares during the period.

Analysts Set New Price Targets

Several brokerages recently commented on RNA. Barclays assumed coverage on shares of Avidity Biosciences in a report on Wednesday, August 28th. They issued an “overweight” rating and a $63.00 price target for the company. Needham & Company LLC restated a “buy” rating and set a $60.00 price target on shares of Avidity Biosciences in a research report on Tuesday, August 13th. Evercore ISI decreased their price target on shares of Avidity Biosciences from $54.00 to $53.00 and set an “outperform” rating on the stock in a research note on Monday, August 26th. The Goldman Sachs Group assumed coverage on Avidity Biosciences in a research note on Tuesday, September 24th. They set a “buy” rating and a $59.00 price objective for the company. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $96.00 target price on shares of Avidity Biosciences in a research report on Monday, September 16th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $60.75.

Insider Transactions at Avidity Biosciences

In related news, insider Teresa Mccarthy sold 25,000 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $48.52, for a total value of $1,213,000.00. Following the completion of the sale, the insider now owns 94,018 shares of the company’s stock, valued at approximately $4,561,753.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Teresa Mccarthy sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $48.52, for a total value of $1,213,000.00. Following the transaction, the insider now directly owns 94,018 shares in the company, valued at approximately $4,561,753.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sarah Boyce sold 28,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $43.35, for a total value of $1,213,800.00. Following the completion of the transaction, the chief executive officer now owns 205,043 shares of the company’s stock, valued at $8,888,614.05. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 150,543 shares of company stock worth $6,762,692 in the last quarter. Company insiders own 3.68% of the company’s stock.

Avidity Biosciences Trading Up 4.0 %

RNA stock opened at $50.45 on Friday. The company has a market cap of $4.82 billion, a price-to-earnings ratio of -17.10 and a beta of 0.89. The firm has a 50-day moving average of $44.33 and a two-hundred day moving average of $37.32. Avidity Biosciences, Inc. has a 12 month low of $4.82 and a 12 month high of $50.78.

Avidity Biosciences (NASDAQ:RNA) last posted its quarterly earnings results on Friday, August 9th. The biotechnology company reported ($0.65) EPS for the quarter, beating the consensus estimate of ($0.76) by $0.11. The firm had revenue of $2.05 million during 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%. As a group, equities analysts forecast that Avidity Biosciences, Inc. will post -3.01 earnings per share for the current year.

Avidity Biosciences 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.