W. Michael Flanagan Sells 2,373 Shares of Avidity Biosciences (NASDAQ:RNA) Stock

Avidity Biosciences, Inc. (NASDAQ:RNA) insider W. Michael Flanagan sold 2,373 shares of Avidity Biosciences stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $72.23, for a total transaction of $171,401.79. Following the sale, the insider directly owned 91,627 shares of the company’s stock, valued at $6,618,218.21. The trade was a 2.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Avidity Biosciences Price Performance

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

Avidity Biosciences (NASDAQ:RNA) last issued its quarterly earnings data on Monday, November 10th. The biotechnology company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $1.80 million. The business’s revenue was up 420.8% compared to the same quarter last year. Equities analysts anticipate that Avidity Biosciences, Inc. will post -2.89 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Avidity Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in RNA. Vanguard Group Inc. boosted its position in shares of Avidity Biosciences by 42.9% during the 3rd quarter. Vanguard Group Inc. now owns 13,219,759 shares of the biotechnology company’s stock worth $575,985,000 after acquiring an additional 3,971,457 shares in the last quarter. Bellevue Group AG bought a new stake in Avidity Biosciences during the third quarter worth $93,800,000. RA Capital Management L.P. lifted its stake in Avidity Biosciences by 18.9% during the third quarter. RA Capital Management L.P. now owns 8,641,031 shares of the biotechnology company’s stock worth $376,490,000 after purchasing an additional 1,375,000 shares during the last quarter. Polar Capital Holdings Plc boosted its holdings in shares of Avidity Biosciences by 58.0% in the 3rd quarter. Polar Capital Holdings Plc now owns 2,796,760 shares of the biotechnology company’s stock valued at $121,855,000 after purchasing an additional 1,026,373 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Avidity Biosciences in the 2nd quarter valued at $28,261,000.

More Avidity Biosciences News

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

Analyst Ratings Changes

A number of research firms have recently weighed in on RNA. TD Cowen downgraded Avidity Biosciences from a “buy” rating to a “hold” rating and dropped their target price for the stock from $78.00 to $74.00 in a report on Wednesday, October 29th. HC Wainwright cut shares of Avidity Biosciences from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $87.00 to $72.00 in a research note on Monday, October 27th. Raymond James Financial downgraded shares of Avidity Biosciences from a “strong-buy” rating to a “market perform” rating in a report on Monday, October 27th. Wolfe Research cut shares of Avidity Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 28th. Finally, Loop Capital set a $72.00 price target on Avidity Biosciences in a research note on Tuesday, October 28th. Eight analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Avidity Biosciences presently 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.