Charles Calderaro III Sells 3,727 Shares of Avidity Biosciences (NASDAQ:RNA) Stock

Avidity Biosciences, Inc. (NASDAQ:RNA) insider Charles Calderaro III sold 3,727 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $72.23, for a total value of $269,201.21. Following the sale, the insider directly owned 49,797 shares of the company’s stock, valued at $3,596,837.31. The trade was a 6.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Avidity Biosciences Price Performance

Shares of NASDAQ RNA opened at $72.37 on Friday. The business’s 50 day moving average is $71.41 and its two-hundred day moving average is $52.89. Avidity Biosciences, Inc. has a 52-week low of $21.51 and a 52-week high of $72.61. The firm has a market cap of $10.90 billion, a price-to-earnings ratio of -17.31 and a beta of 0.95.

Avidity Biosciences (NASDAQ:RNA) last posted its quarterly earnings data on Monday, November 10th. The biotechnology company reported ($1.27) EPS for the quarter, missing the consensus estimate of ($1.05) by ($0.22). Avidity Biosciences had a negative net margin of 2,634.59% and a negative return on equity of 37.70%. The business had revenue of $12.48 million during the quarter, compared to analysts’ expectations of $1.80 million. Avidity Biosciences’s revenue for the quarter was up 420.8% compared to the same quarter last year. Analysts anticipate that Avidity Biosciences, Inc. will post -2.89 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Citigroup cut Avidity Biosciences from a “buy” rating to a “hold” rating in a research report on Monday, October 27th. Wall Street Zen upgraded Avidity Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Evercore ISI set a $72.00 price target on Avidity Biosciences in a report on Thursday, December 18th. HC Wainwright lowered shares of Avidity Biosciences from a “buy” rating to a “neutral” rating and dropped their price target for the company from $87.00 to $72.00 in a research note on Monday, October 27th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Avidity Biosciences in a research report on Wednesday, October 8th. Eight equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $69.57.

Key Stories Impacting Avidity Biosciences

Here are the key news stories impacting Avidity Biosciences this week:

• Neutral Sentiment: W. Michael Flanagan sold 2,373 shares (~$171.4k), reducing his stake ~2.52%. SEC filing – Flanagan sale
• Neutral Sentiment: Michael F. Maclean (CFO) sold 1,974 shares (~$142.6k), a ~3.00% decrease in his ownership. SEC filing – Maclean sale
• Neutral Sentiment: Teresa McCarthy sold 1,965 shares (~$141.9k), reducing her stake ~1.65%. SEC filing – McCarthy sale
• Negative Sentiment: Steven George Hughes sold 2,373 shares (~$171.4k), a ~6.11% reduction in his position — larger proportional sale that may draw investor scrutiny. SEC filing – Hughes sale
• Negative Sentiment: John B. Moriarty sold 2,374 shares (~$171.5k), a ~3.09% drop in his holdings. SEC filing – Moriarty sale
• Negative Sentiment: Charles Calderaro III sold 3,727 shares (~$269.2k), a ~6.96% reduction — one of the larger proportional sales among insiders. SEC filing – Calderaro sale
• Negative Sentiment: CEO Sarah Boyce sold 8,576 shares (~$619.4k), reducing her stake ~2.94%; CEO sales tend to attract investor attention despite modest percentage change. SEC filing – Boyce sale

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. AlphaQuest LLC increased its position in Avidity Biosciences by 123.0% during the third quarter. AlphaQuest LLC now owns 600 shares of the biotechnology company’s stock worth $26,000 after buying an additional 331 shares during the period. CWM LLC grew its position in shares of Avidity Biosciences by 1,635.1% during the third quarter. CWM LLC now owns 642 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 605 shares during the last quarter. Allworth Financial LP increased its holdings in shares of Avidity Biosciences by 22.8% in the 3rd quarter. Allworth Financial LP now owns 856 shares of the biotechnology company’s stock valued at $37,000 after acquiring an additional 159 shares during the period. Westside Investment Management Inc. acquired a new position in shares of Avidity Biosciences in the 2nd quarter valued at $29,000. Finally, Comerica Bank raised its position in Avidity Biosciences by 75.9% in the 3rd quarter. Comerica Bank now owns 1,335 shares of the biotechnology company’s stock valued at $58,000 after purchasing an additional 576 shares during the last quarter.

Avidity Biosciences Company Profile

Avidity Biosciences is a clinical-stage biotechnology company dedicated to developing antibody-oligonucleotide conjugate (AOC) therapies designed to address serious neuromuscular and cardiac diseases. The company’s proprietary AOC platform combines the targeting specificity of monoclonal antibodies with the gene-modulating power of oligonucleotides to deliver therapeutic agents directly into muscle cells. Headquartered in La Jolla, California, Avidity seeks to overcome traditional delivery challenges associated with RNA-based medicines by leveraging receptor-mediated uptake mechanisms.

The company’s lead product candidate, AOC 1001, is in clinical development for myotonic dystrophy type 1 (DM1) and represents the first application of the AOC platform in a human study.