Michael Maclean Sells 1,974 Shares of Avidity Biosciences (NASDAQ:RNA) Stock

Avidity Biosciences, Inc. (NASDAQ:RNA) CFO Michael Maclean sold 1,974 shares of the stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $72.23, for a total value of $142,582.02. Following the sale, the chief financial officer directly owned 63,832 shares in the company, valued at $4,610,585.36. This represents a 3.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Avidity Biosciences Price Performance

Shares of NASDAQ RNA opened at $72.37 on Friday. The business has a fifty day moving average price of $71.41 and a two-hundred day moving average price of $52.89. The stock has a market capitalization of $10.90 billion, a PE ratio of -17.31 and a beta of 0.95. Avidity Biosciences, Inc. has a fifty-two week low of $21.51 and a fifty-two week high of $72.61.

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

Avidity Biosciences News Roundup

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 Investors Weigh In On Avidity Biosciences

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Avidity Biosciences by 42.9% in the third quarter. Vanguard Group Inc. now owns 13,219,759 shares of the biotechnology company’s stock valued at $575,985,000 after purchasing an additional 3,971,457 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Avidity Biosciences by 8.8% in the third quarter. Wellington Management Group LLP now owns 10,065,187 shares of the biotechnology company’s stock valued at $438,540,000 after buying an additional 815,497 shares during the period. RA Capital Management L.P. increased its stake in shares of Avidity Biosciences by 18.9% in the third quarter. RA Capital Management L.P. now owns 8,641,031 shares of the biotechnology company’s stock valued at $376,490,000 after buying an additional 1,375,000 shares during the period. Avoro Capital Advisors LLC raised its holdings in Avidity Biosciences by 8.4% in the 3rd quarter. Avoro Capital Advisors LLC now owns 7,645,000 shares of the biotechnology company’s stock valued at $333,093,000 after buying an additional 595,000 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Avidity Biosciences by 3.4% during the 2nd quarter. Geode Capital Management LLC now owns 2,847,965 shares of the biotechnology company’s stock worth $80,893,000 after buying an additional 92,719 shares during the period.

Analyst Ratings Changes

RNA has been the subject of a number of recent analyst reports. Roth Capital downgraded shares of Avidity Biosciences from a “strong-buy” rating to a “hold” rating and set a $72.00 price target for the company. in a report on Monday, October 27th. Sanford C. Bernstein downgraded shares of Avidity Biosciences from an “outperform” rating to a “market perform” rating and boosted their price objective for the company from $52.00 to $72.00 in a research report on Monday, October 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Avidity Biosciences in a report on Wednesday, October 8th. Wall Street Zen upgraded Avidity Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $72.00 price objective (up from $61.00) on shares of Avidity Biosciences in a research report on Tuesday, October 28th. Eight research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $69.57.

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.