Avidity Biosciences, Inc. (NASDAQ:RNA) Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. increased its position in shares of Avidity Biosciences, Inc. (NASDAQ:RNA) by 1.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 4,014,490 shares of the biotechnology company’s stock after acquiring an additional 47,305 shares during the quarter. Vanguard Group Inc. owned approximately 0.05% of Avidity Biosciences worth $25,612,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC increased its position in Avidity Biosciences by 4.6% during the third quarter. FMR LLC now owns 11,114,431 shares of the biotechnology company’s stock worth $70,910,000 after purchasing an additional 491,567 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Avidity Biosciences by 2.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,864,385 shares of the biotechnology company’s stock valued at $105,369,000 after acquiring an additional 157,098 shares during the last quarter. State Street Corp increased its position in shares of Avidity Biosciences by 41.4% during the second quarter. State Street Corp now owns 6,189,593 shares of the biotechnology company’s stock valued at $68,643,000 after acquiring an additional 1,812,533 shares during the last quarter. BlackRock Inc. increased its position in shares of Avidity Biosciences by 2.2% during the second quarter. BlackRock Inc. now owns 5,758,746 shares of the biotechnology company’s stock valued at $63,864,000 after acquiring an additional 125,321 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Avidity Biosciences by 50.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,905,373 shares of the biotechnology company’s stock valued at $21,131,000 after acquiring an additional 636,583 shares during the last quarter.

Insider Buying and Selling

In related news, insider W. Michael Flanagan sold 4,129 shares of Avidity Biosciences stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $10.13, for a total value of $41,826.77. Following the completion of the transaction, the insider now owns 35,871 shares in the company, valued at $363,373.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider W. Michael Flanagan sold 4,129 shares of Avidity Biosciences stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $10.13, for a total value of $41,826.77. Following the completion of the transaction, the insider now owns 35,871 shares in the company, valued at $363,373.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Arthur A. Levin sold 20,000 shares of Avidity Biosciences stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $27.11, for a total transaction of $542,200.00. Following the completion of the transaction, the director now owns 253,872 shares of the company’s stock, valued at approximately $6,882,469.92. The disclosure for this sale can be found here. Insiders sold 212,337 shares of company stock worth $4,690,942 over the last 90 days. 2.00% of the stock is owned by insiders.

Avidity Biosciences Stock Performance

NASDAQ RNA opened at $24.09 on Friday. The firm has a 50 day simple moving average of $19.97 and a 200-day simple moving average of $12.03. Avidity Biosciences, Inc. has a one year low of $4.82 and a one year high of $27.66. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of -8.31 and a beta of 0.78.

Avidity Biosciences (NASDAQ:RNA) last posted its quarterly earnings data on Wednesday, February 28th. The biotechnology company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.54) by ($0.25). Avidity Biosciences had a negative net margin of 2,219.87% and a negative return on equity of 39.74%. The business had revenue of $2.19 million during the quarter, compared to analysts’ expectations of $32.08 million. Equities analysts predict that Avidity Biosciences, Inc. will post -3.07 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and set a $35.00 price target on shares of Avidity Biosciences in a research report on Thursday. Cantor Fitzgerald assumed coverage on shares of Avidity Biosciences in a research report on Thursday, March 14th. They set an “overweight” rating and a $60.00 price target for the company. Chardan Capital reiterated a “buy” rating and set a $23.00 price target on shares of Avidity Biosciences in a research report on Thursday, February 29th. Finally, Wells Fargo & Company reiterated an “overweight” rating and set a $50.00 price target on shares of Avidity Biosciences in a research report on Wednesday, January 3rd. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $36.33.

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.