US Bancorp DE Sells 53,154 Shares of Avidity Biosciences, Inc. (NASDAQ:RNA)

US Bancorp DE lessened its holdings in Avidity Biosciences, Inc. (NASDAQ:RNA) by 91.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,244 shares of the biotechnology company’s stock after selling 53,154 shares during the period. US Bancorp DE’s holdings in Avidity Biosciences were worth $241,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC bought a new stake in shares of Avidity Biosciences in the 3rd quarter valued at approximately $30,000. Values First Advisors Inc. purchased a new stake in Avidity Biosciences during the 3rd quarter valued at $32,000. Quarry LP lifted its position in Avidity Biosciences by 566.7% in the second quarter. Quarry LP now owns 2,000 shares of the biotechnology company’s stock worth $82,000 after buying an additional 1,700 shares during the last quarter. nVerses Capital LLC boosted its stake in Avidity Biosciences by 25.9% during the second quarter. nVerses Capital LLC now owns 3,400 shares of the biotechnology company’s stock worth $139,000 after buying an additional 700 shares during the period. Finally, Amalgamated Bank increased its position in Avidity Biosciences by 39.0% during the second quarter. Amalgamated Bank now owns 3,497 shares of the biotechnology company’s stock valued at $143,000 after acquiring an additional 982 shares during the last quarter.

Insider Transactions at Avidity Biosciences

In related news, Director Arthur A. Levin sold 5,000 shares of Avidity Biosciences stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $45.73, for a total transaction of $228,650.00. Following the transaction, the director now directly owns 14,830 shares of the company’s stock, valued at $678,175.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director Arthur A. Levin sold 5,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $45.73, for a total transaction of $228,650.00. Following the sale, the director now owns 14,830 shares of the company’s stock, valued at $678,175.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Michael F. Maclean sold 11,510 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $44.00, for a total transaction of $506,440.00. Following the completion of the transaction, the chief financial officer now owns 96,355 shares of the company’s stock, valued at $4,239,620. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 127,543 shares of company stock valued at $5,782,042. Company insiders own 3.68% of the company’s stock.

Avidity Biosciences Trading Up 12.3 %

Shares of RNA stock opened at $52.50 on Thursday. Avidity Biosciences, Inc. has a twelve month low of $5.68 and a twelve month high of $56.00. The stock has a fifty day simple moving average of $44.83 and a two-hundred day simple moving average of $39.92. The stock has a market capitalization of $6.26 billion, a price-to-earnings ratio of -18.23 and a beta of 0.91.

Avidity Biosciences (NASDAQ:RNA) last released its quarterly earnings data on Thursday, November 7th. The biotechnology company reported ($0.65) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.14. Avidity Biosciences had a negative net margin of 2,772.45% and a negative return on equity of 27.66%. The company had revenue of $2.34 million during the quarter, compared to analyst estimates of $7.09 million. Research analysts predict that Avidity Biosciences, Inc. will post -2.91 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on RNA shares. TD Cowen upped their price target on shares of Avidity Biosciences from $56.00 to $78.00 and gave the company a “buy” rating in a report on Monday, October 21st. Chardan Capital reiterated a “buy” rating and issued a $65.00 price target on shares of Avidity Biosciences in a report on Wednesday. Barclays initiated coverage on Avidity Biosciences in a report on Wednesday, August 28th. They set an “overweight” rating and a $63.00 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $96.00 target price on shares of Avidity Biosciences in a research note on Monday, September 16th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $60.00 target price on shares of Avidity Biosciences in a research report on Wednesday. Nine investment 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 $63.22.

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.