Daiwa Securities Group Inc. Has $95,000 Stock Position in Avidity Biosciences, Inc. (NASDAQ:RNA)

Daiwa Securities Group Inc. raised its position in shares of Avidity Biosciences, Inc. (NASDAQ:RNA) by 43.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,537 shares of the biotechnology company’s stock after purchasing an additional 3,182 shares during the period. Daiwa Securities Group Inc.’s holdings in Avidity Biosciences were worth $95,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in RNA. Harbor Capital Advisors Inc. raised its position in Avidity Biosciences by 19.5% during the third quarter. Harbor Capital Advisors Inc. now owns 30,014 shares of the biotechnology company’s stock valued at $191,000 after purchasing an additional 4,902 shares in the last quarter. Raymond James & Associates grew its stake in shares of Avidity Biosciences by 11.8% during the third quarter. Raymond James & Associates now owns 93,255 shares of the biotechnology company’s stock worth $595,000 after buying an additional 9,815 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of Avidity Biosciences by 33.4% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 34,772 shares of the biotechnology company’s stock worth $222,000 after buying an additional 8,700 shares during the last quarter. TD Asset Management Inc grew its stake in shares of Avidity Biosciences by 100.0% during the third quarter. TD Asset Management Inc now owns 267,732 shares of the biotechnology company’s stock worth $1,708,000 after buying an additional 133,866 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its stake in shares of Avidity Biosciences by 89.5% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 66,220 shares of the biotechnology company’s stock worth $422,000 after buying an additional 31,277 shares during the last quarter.

Insider Buying and Selling at Avidity Biosciences

In other Avidity Biosciences news, Director Arthur A. Levin sold 27,641 shares of the company’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 sale, the director now owns 14,830 shares of the company’s stock, valued at $326,704.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Avidity Biosciences news, Director Arthur A. Levin sold 27,641 shares of the company’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 sale, the director now owns 14,830 shares of the company’s stock, valued at $326,704.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Arthur A. Levin sold 20,000 shares of the company’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $27.11, for a total transaction of $542,200.00. Following the sale, the director now directly owns 253,872 shares in the company, valued at approximately $6,882,469.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 204,641 shares of company stock valued at $4,676,431. 2.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

RNA has been the topic of a number of research reports. Cantor Fitzgerald initiated coverage on shares of Avidity Biosciences in a research note on Thursday, March 14th. They set an “overweight” rating and a $60.00 target price on the stock. Chardan Capital reaffirmed a “buy” rating and set a $23.00 target price on shares of Avidity Biosciences in a research note on Thursday, February 29th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $50.00 target price on shares of Avidity Biosciences in a research note on Wednesday, January 3rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $35.00 target price on shares of Avidity Biosciences in a research note on Thursday, April 11th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Avidity Biosciences currently has an average rating of “Buy” and a consensus price target of $36.33.

Avidity Biosciences Stock Up 2.2 %

Shares of Avidity Biosciences stock opened at $24.36 on Friday. Avidity Biosciences, Inc. has a twelve month low of $4.82 and a twelve month high of $27.66. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of -8.40 and a beta of 0.78. The company’s fifty day moving average is $22.15 and its 200 day moving average is $13.31.

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