Voya Investment Management LLC Has $9.81 Million Stake in Avidity Biosciences, Inc. $RNA

Voya Investment Management LLC decreased its holdings in Avidity Biosciences, Inc. (NASDAQ:RNA) by 4.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 332,180 shares of the biotechnology company’s stock after selling 14,006 shares during the period. Voya Investment Management LLC owned about 0.28% of Avidity Biosciences worth $9,806,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Amalgamated Bank increased its holdings in shares of Avidity Biosciences by 12.0% in the 1st quarter. Amalgamated Bank now owns 3,915 shares of the biotechnology company’s stock valued at $116,000 after purchasing an additional 418 shares during the period. Corebridge Financial Inc. increased its holdings in shares of Avidity Biosciences by 0.8% in the 1st quarter. Corebridge Financial Inc. now owns 55,643 shares of the biotechnology company’s stock valued at $1,643,000 after purchasing an additional 463 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Avidity Biosciences by 9.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,135 shares of the biotechnology company’s stock valued at $181,000 after purchasing an additional 514 shares during the period. Parallel Advisors LLC increased its holdings in shares of Avidity Biosciences by 43.3% in the 1st quarter. Parallel Advisors LLC now owns 1,705 shares of the biotechnology company’s stock valued at $50,000 after purchasing an additional 515 shares during the period. Finally, Quantinno Capital Management LP increased its holdings in shares of Avidity Biosciences by 8.0% in the 4th quarter. Quantinno Capital Management LP now owns 7,026 shares of the biotechnology company’s stock valued at $204,000 after purchasing an additional 518 shares during the period.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $96.00 target price on shares of Avidity Biosciences in a report on Friday, June 27th. JPMorgan Chase & Co. raised their price objective on shares of Avidity Biosciences from $57.00 to $59.00 and gave the company an “overweight” rating in a research report on Tuesday, June 10th. Wolfe Research began coverage on shares of Avidity Biosciences in a research report on Tuesday, June 17th. They set an “outperform” rating and a $55.00 price objective on the stock. Barclays reaffirmed an “overweight” rating and set a $62.00 price objective (up previously from $59.00) on shares of Avidity Biosciences in a research report on Friday, August 8th. Finally, Sanford C. Bernstein began coverage on shares of Avidity Biosciences in a research report on Tuesday, June 24th. They set an “outperform” rating and a $50.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating and seventeen have issued a Buy rating to the company. According to data from MarketBeat.com, Avidity Biosciences currently has a consensus rating of “Buy” and an average price target of $68.94.

Avidity Biosciences Stock Up 3.0%

Shares of RNA stock opened at $41.44 on Wednesday. Avidity Biosciences, Inc. has a 12 month low of $21.51 and a 12 month high of $56.00. The business’s 50 day moving average is $41.36 and its two-hundred day moving average is $33.87. The company has a market cap of $5.33 billion, a PE ratio of -11.64 and a beta of 0.99.

Insider Activity at Avidity Biosciences

In other news, CEO Sarah Boyce sold 50,000 shares of the firm’s stock in a transaction on Friday, September 5th. The shares were sold at an average price of $49.95, for a total value of $2,497,500.00. Following the sale, the chief executive officer owned 305,871 shares in the company, valued at approximately $15,278,256.45. This trade represents a 14.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Eric Mosbrooker sold 130,807 shares of the firm’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $44.06, for a total transaction of $5,763,356.42. Following the completion of the sale, the insider owned 55,000 shares in the company, valued at approximately $2,423,300. The trade was a 70.40% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 540,499 shares of company stock valued at $24,814,854. 3.83% of the stock is owned by company insiders.

Avidity Biosciences Company 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.