Avidity Biosciences, Inc. (NASDAQ:RNA) Shares Sold by US Bancorp DE

US Bancorp DE decreased its position in Avidity Biosciences, Inc. (NASDAQ:RNA) by 16.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,468 shares of the biotechnology company’s stock after selling 1,100 shares during the quarter. US Bancorp DE’s holdings in Avidity Biosciences were worth $161,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its holdings in Avidity Biosciences by 3.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,042,823 shares of the biotechnology company’s stock valued at $321,127,000 after buying an additional 408,861 shares during the period. Avoro Capital Advisors LLC grew its holdings in Avidity Biosciences by 9.1% in the 4th quarter. Avoro Capital Advisors LLC now owns 7,500,000 shares of the biotechnology company’s stock valued at $218,100,000 after buying an additional 625,000 shares during the period. Janus Henderson Group PLC grew its holdings in Avidity Biosciences by 44.1% in the 4th quarter. Janus Henderson Group PLC now owns 7,053,010 shares of the biotechnology company’s stock valued at $205,134,000 after buying an additional 2,156,844 shares during the period. Boxer Capital Management LLC purchased a new stake in Avidity Biosciences in the 4th quarter valued at about $50,232,000. Finally, Driehaus Capital Management LLC grew its holdings in Avidity Biosciences by 40.8% in the 4th quarter. Driehaus Capital Management LLC now owns 1,228,058 shares of the biotechnology company’s stock valued at $35,712,000 after buying an additional 356,114 shares during the period.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Sanford C. Bernstein assumed coverage on Avidity Biosciences in a report on Tuesday, June 24th. They issued an “outperform” rating and a $50.00 price target for the company. Chardan Capital reiterated a “buy” rating and set a $75.00 target price on shares of Avidity Biosciences in a report on Friday, August 8th. Bank of America boosted their target price on Avidity Biosciences from $48.00 to $54.00 and gave the stock a “buy” rating in a report on Monday, June 9th. Evercore ISI reiterated an “outperform” rating and set a $70.00 target price on shares of Avidity Biosciences in a report on Friday, July 11th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $96.00 target price on shares of Avidity Biosciences in a report on Friday, June 27th. Seventeen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $67.00.

Avidity Biosciences Price Performance

Shares of RNA opened at $46.47 on Friday. Avidity Biosciences, Inc. has a 12-month low of $21.51 and a 12-month high of $56.00. The business’s fifty day moving average price is $34.39 and its 200 day moving average price is $31.80. The stock has a market capitalization of $5.98 billion, a PE ratio of -13.05 and a beta of 0.95.

Insider Transactions at Avidity Biosciences

In other Avidity Biosciences news, insider Teresa Mccarthy sold 10,000 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $46.56, for a total value of $465,600.00. Following the sale, the insider directly owned 97,130 shares of the company’s stock, valued at $4,522,372.80. This trade represents a 9.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Eric Mosbrooker sold 130,807 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $44.06, for a total value of $5,763,356.42. Following the completion of the sale, the insider directly owned 55,000 shares in the company, valued at $2,423,300. This represents a 70.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 453,826 shares of company stock valued at $20,063,286 over the last three months. 3.83% of the stock is currently owned by company insiders.

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.