Creative Planning Has $551,000 Holdings in Avidity Biosciences, Inc. (NASDAQ:RNA)

Creative Planning boosted its stake in shares of Avidity Biosciences, Inc. (NASDAQ:RNAFree Report) by 45.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,487 shares of the biotechnology company’s stock after buying an additional 4,190 shares during the period. Creative Planning’s holdings in Avidity Biosciences were worth $551,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in RNA. Avoro Capital Advisors LLC increased its holdings in shares of Avidity Biosciences by 132.1% in the 1st quarter. Avoro Capital Advisors LLC now owns 5,825,000 shares of the biotechnology company’s stock valued at $148,654,000 after purchasing an additional 3,315,000 shares during the period. Janus Henderson Group PLC increased its holdings in shares of Avidity Biosciences by 4,661.3% in the 1st quarter. Janus Henderson Group PLC now owns 1,242,833 shares of the biotechnology company’s stock valued at $31,704,000 after purchasing an additional 1,216,730 shares during the period. RA Capital Management L.P. grew its stake in shares of Avidity Biosciences by 33.7% in the 1st quarter. RA Capital Management L.P. now owns 3,282,180 shares of the biotechnology company’s stock valued at $83,761,000 after buying an additional 827,647 shares in the last quarter. D. E. Shaw & Co. Inc. grew its stake in shares of Avidity Biosciences by 2,263.7% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 739,039 shares of the biotechnology company’s stock valued at $30,190,000 after buying an additional 707,773 shares in the last quarter. Finally, Farallon Capital Management LLC bought a new stake in shares of Avidity Biosciences in the 1st quarter valued at approximately $15,467,000.

Insiders Place Their Bets

In other Avidity Biosciences news, CEO Sarah Boyce sold 28,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $43.35, for a total transaction of $1,213,800.00. Following the transaction, the chief executive officer now owns 205,043 shares in the company, valued at approximately $8,888,614.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Tamar Thompson sold 30,000 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $44.98, for a total transaction of $1,349,400.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Sarah Boyce sold 28,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $43.35, for a total value of $1,213,800.00. Following the sale, the chief executive officer now directly owns 205,043 shares in the company, valued at approximately $8,888,614.05. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 130,543 shares of company stock worth $5,774,742. Insiders own 3.68% of the company’s stock.

Wall Street Analysts Forecast Growth

RNA has been the subject of several recent research reports. The Goldman Sachs Group initiated coverage on Avidity Biosciences in a research note on Tuesday, September 24th. They issued a “buy” rating and a $59.00 price target for the company. Chardan Capital upped their target price on Avidity Biosciences from $45.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Evercore ISI decreased their target price on Avidity Biosciences from $54.00 to $53.00 and set an “outperform” rating for the company in a research report on Monday, August 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 target price on shares of Avidity Biosciences in a research report on Tuesday, August 13th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $96.00 target price on shares of Avidity Biosciences in a research report on Monday, September 16th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Avidity Biosciences currently has an average rating of “Buy” and a consensus price target of $60.75.

Read Our Latest Analysis on RNA

Avidity Biosciences Stock Performance

Shares of RNA stock opened at $46.71 on Tuesday. The stock’s fifty day moving average is $43.91 and its 200-day moving average is $36.77. The stock has a market capitalization of $5.13 billion, a PE ratio of -15.89 and a beta of 0.89. Avidity Biosciences, Inc. has a 52 week low of $4.82 and a 52 week high of $49.41.

Avidity Biosciences (NASDAQ:RNAGet Free Report) last posted its quarterly earnings results on Friday, August 9th. The biotechnology company reported ($0.65) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.76) by $0.11. The business had revenue of $2.05 million for the quarter, compared to analysts’ expectations of $7.09 million. Avidity Biosciences had a negative return on equity of 32.89% and a negative net margin of 2,381.82%. As a group, analysts forecast that Avidity Biosciences, Inc. will post -3.01 earnings per share for the current fiscal year.

About Avidity Biosciences

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Avidity Biosciences (NASDAQ:RNA)

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