Avidity Biosciences, Inc. (NASDAQ:RNA) Shares Bought by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. raised its position in Avidity Biosciences, Inc. (NASDAQ:RNA) by 149.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 86,611 shares of the biotechnology company’s stock after acquiring an additional 51,839 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Avidity Biosciences were worth $784,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Quantbot Technologies LP lifted its stake in shares of Avidity Biosciences by 600.0% in the 2nd quarter. Quantbot Technologies LP now owns 2,100 shares of the biotechnology company’s stock worth $30,000 after acquiring an additional 1,800 shares during the period. Aigen Investment Management LP acquired a new stake in shares of Avidity Biosciences in the third quarter valued at about $71,000. Hsbc Holdings PLC acquired a new stake in shares of Avidity Biosciences in the third quarter valued at about $81,000. Royal Bank of Canada lifted its stake in shares of Avidity Biosciences by 74.6% in the second quarter. Royal Bank of Canada now owns 7,674 shares of the biotechnology company’s stock valued at $85,000 after purchasing an additional 3,280 shares during the period. Finally, Ancora Advisors LLC lifted its stake in shares of Avidity Biosciences by 100.0% in the first quarter. Ancora Advisors LLC now owns 6,000 shares of the biotechnology company’s stock valued at $92,000 after purchasing an additional 3,000 shares during the period.

Insider Buying and Selling at Avidity Biosciences

In other Avidity Biosciences 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 transaction of $41,826.77. Following the transaction, the insider now directly owns 35,871 shares of the company’s stock, valued at $363,373.23. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Director Arthur A. Levin sold 27,641 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $22.03, for a total transaction of $608,931.23. Following the transaction, the director now directly owns 14,830 shares of the company’s stock, valued at $326,704.90. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider W. Michael Flanagan sold 4,129 shares of the business’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $10.13, for a total transaction of $41,826.77. Following the transaction, the insider now directly owns 35,871 shares in the company, valued at $363,373.23. The disclosure for this sale can be found here. Insiders have sold a total of 212,337 shares of company stock valued at $4,690,942 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Avidity Biosciences Stock Performance

RNA opened at $23.91 on Wednesday. The company’s 50 day simple moving average is $20.45 and its 200 day simple moving average is $12.35. Avidity Biosciences, Inc. has a 1 year low of $4.82 and a 1 year high of $27.66. The stock has a market capitalization of $1.91 billion, a PE ratio of -8.24 and a beta of 0.77.

Avidity Biosciences (NASDAQ:RNA) last announced its quarterly earnings results on Wednesday, February 28th. The biotechnology company reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.25). The business had revenue of $2.19 million for the quarter, compared to analyst estimates of $32.08 million. Avidity Biosciences had a negative net margin of 2,219.87% and a negative return on equity of 39.74%. As a group, sell-side analysts expect that Avidity Biosciences, Inc. will post -3.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on RNA shares. Wells Fargo & Company reiterated an “overweight” rating and issued a $50.00 price objective on shares of Avidity Biosciences in a research note on Wednesday, January 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $35.00 price objective on shares of Avidity Biosciences in a research note on Thursday, April 11th. Cantor Fitzgerald started coverage on shares of Avidity Biosciences in a report on Thursday, March 14th. They set an “overweight” rating and a $60.00 target price for the company. Finally, Chardan Capital restated a “buy” rating and set a $23.00 target price on shares of Avidity Biosciences in a report on Thursday, February 29th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price 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.