Avidity Biosciences, Inc. (NASDAQ:RNA) Shares Bought by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lifted its stake in shares of Avidity Biosciences, Inc. (NASDAQ:RNA) by 8.1% during the fourth quarter, Holdings Channel reports. The firm owned 48,536 shares of the biotechnology company’s stock after buying an additional 3,638 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Avidity Biosciences were worth $1,411,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. National Bank of Canada FI bought a new stake in shares of Avidity Biosciences during the third quarter valued at approximately $27,000. Allspring Global Investments Holdings LLC bought a new position in Avidity Biosciences during the 3rd quarter valued at $30,000. Van ECK Associates Corp acquired a new position in shares of Avidity Biosciences during the 4th quarter valued at $38,000. Quest Partners LLC raised its stake in shares of Avidity Biosciences by 217.8% in the 3rd quarter. Quest Partners LLC now owns 2,031 shares of the biotechnology company’s stock worth $93,000 after buying an additional 1,392 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Avidity Biosciences by 48.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,236 shares of the biotechnology company’s stock valued at $179,000 after buying an additional 1,381 shares during the period.

Insider Buying and Selling

In other news, insider Kathleen P. Gallagher sold 5,875 shares of Avidity Biosciences stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $32.16, for a total transaction of $188,940.00. Following the sale, the insider now owns 50,554 shares of the company’s stock, valued at approximately $1,625,816.64. This trade represents a 10.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Arthur A. Levin sold 1,872 shares of Avidity Biosciences stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $28.60, for a total transaction of $53,539.20. Following the sale, the director now owns 12,958 shares in the company, valued at approximately $370,598.80. This trade represents a 12.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 129,138 shares of company stock worth $4,229,012. Corporate insiders own 3.68% of the company’s stock.

Avidity Biosciences Stock Down 4.5 %

RNA stock opened at $29.16 on Wednesday. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of -10.13 and a beta of 1.00. The firm has a 50 day moving average of $31.09 and a two-hundred day moving average of $39.12. Avidity Biosciences, Inc. has a 12 month low of $14.10 and a 12 month high of $56.00.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $67.00 price objective on shares of Avidity Biosciences in a research note on Tuesday, January 21st. HC Wainwright reissued a “buy” rating and set a $72.00 price objective on shares of Avidity Biosciences in a research note on Friday, January 10th. Chardan Capital reissued a “buy” rating and issued a $65.00 price target on shares of Avidity Biosciences in a research note on Wednesday, November 13th. Finally, Needham & Company LLC reissued a “buy” rating and set a $60.00 target price on shares of Avidity Biosciences in a research note on Wednesday, November 13th. Ten research analysts have rated the stock with a buy rating, According to MarketBeat.com, Avidity Biosciences presently has a consensus rating of “Buy” and a consensus target price of $65.80.

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.