Steven George Hughes Sells 2,373 Shares of Avidity Biosciences (NASDAQ:RNA) Stock

Avidity Biosciences, Inc. (NASDAQ:RNA) insider Steven George Hughes sold 2,373 shares of the business’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $72.23, for a total transaction of $171,401.79. Following the completion of the sale, the insider owned 36,494 shares in the company, valued at $2,635,961.62. This represents a 6.11% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Steven George Hughes also recently made the following trade(s):

• On Wednesday, October 22nd, Steven George Hughes sold 2,209 shares of Avidity Biosciences stock. The stock was sold at an average price of $47.54, for a total transaction of $105,015.86.

Avidity Biosciences Price Performance

NASDAQ:RNA opened at $72.37 on Friday. The firm has a market cap of $10.90 billion, a PE ratio of -17.31 and a beta of 0.95. Avidity Biosciences, Inc. has a 12 month low of $21.51 and a 12 month high of $72.61. The company’s 50-day moving average price is $71.41 and its two-hundred day moving average price is $52.89.

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

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 Trading of Avidity Biosciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in RNA. Allworth Financial LP lifted its position in Avidity Biosciences by 22.8% during the 3rd quarter. Allworth Financial LP now owns 856 shares of the biotechnology company’s stock valued at $37,000 after purchasing an additional 159 shares during the period. Fort Point Capital Partners LLC raised its stake in shares of Avidity Biosciences by 0.6% during the third quarter. Fort Point Capital Partners LLC now owns 31,278 shares of the biotechnology company’s stock worth $1,363,000 after buying an additional 183 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Avidity Biosciences by 10.5% in the fourth quarter. GAMMA Investing LLC now owns 2,471 shares of the biotechnology company’s stock valued at $178,000 after buying an additional 234 shares during the period. AlphaQuest LLC lifted its holdings in Avidity Biosciences by 123.0% in the third quarter. AlphaQuest LLC now owns 600 shares of the biotechnology company’s stock valued at $26,000 after buying an additional 331 shares during the period. Finally, California State Teachers Retirement System boosted its stake in Avidity Biosciences by 0.5% in the second quarter. California State Teachers Retirement System now owns 90,258 shares of the biotechnology company’s stock valued at $2,563,000 after acquiring an additional 466 shares during the last quarter.

Analyst Ratings Changes

Several brokerages have recently commented on RNA. HC Wainwright cut Avidity Biosciences from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $87.00 to $72.00 in a report on Monday, October 27th. Evercore ISI set a $72.00 price target on shares of Avidity Biosciences in a research report on Thursday, December 18th. Needham & Company LLC cut shares of Avidity Biosciences from a “buy” rating to a “hold” rating and set a $65.00 price objective for the company. in a research report on Monday, October 27th. Loop Capital set a $72.00 target price on shares of Avidity Biosciences in a research note on Tuesday, October 28th. Finally, Raymond James Financial lowered shares of Avidity Biosciences from a “strong-buy” rating to a “market perform” rating in a research report on Monday, October 27th. Eight equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Avidity Biosciences has a consensus rating of “Hold” and an average price target 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.