Avidity Biosciences, Inc. (NASDAQ:RNA) Receives Consensus Rating of “Hold” from Brokerages

Shares of Avidity Biosciences, Inc. (NASDAQ:RNA) have earned a consensus recommendation of “Hold” from the twenty-three brokerages that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, fourteen have assigned a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $69.5714.

A number of analysts have weighed in on RNA shares. Evercore ISI set a $72.00 price target on Avidity Biosciences in a research report on Thursday, December 18th. Leerink Partners reaffirmed a “market perform” rating and issued a $72.00 target price (up previously from $65.00) on shares of Avidity Biosciences in a report 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 lowered shares of Avidity Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 28th. Finally, Loop Capital set a $72.00 price objective on shares of Avidity Biosciences in a report on Tuesday, October 28th.

Avidity Biosciences Stock Performance

Shares of Avidity Biosciences stock opened at $72.37 on Monday. Avidity Biosciences has a twelve month low of $21.51 and a twelve month high of $72.61. The firm has a market cap of $10.90 billion, a P/E ratio of -17.31 and a beta of 0.95. The firm’s 50-day simple moving average is $71.41 and its 200-day simple moving average is $53.05.

Avidity Biosciences (NASDAQ:RNA) last announced 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). Avidity Biosciences had a negative return on equity of 37.70% and a negative net margin of 2,634.59%.The business had revenue of $12.48 million for the quarter, compared to the consensus estimate of $1.80 million. The business’s revenue for the quarter was up 420.8% compared to the same quarter last year. On average, equities analysts forecast that Avidity Biosciences will post -2.89 earnings per share for the current fiscal year.

Insider Activity

In other news, insider W. Michael Flanagan sold 2,373 shares of the firm’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $72.23, for a total value of $171,401.79. Following the completion of the sale, the insider directly owned 91,627 shares in the company, valued at approximately $6,618,218.21. This trade represents a 2.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Michael F. Maclean sold 1,974 shares of Avidity Biosciences stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $72.23, for a total value of $142,582.02. Following the completion of the transaction, the chief financial officer directly owned 63,832 shares of the company’s stock, valued at $4,610,585.36. This represents a 3.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 45,571 shares of company stock worth $2,795,453. 3.83% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Avidity Biosciences

Institutional investors have recently modified their holdings of the stock. AlphaQuest LLC lifted its position in shares of 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 purchasing an additional 331 shares in the last quarter. CWM LLC lifted its holdings in Avidity Biosciences by 1,635.1% during the 3rd quarter. CWM LLC now owns 642 shares of the biotechnology company’s stock worth $28,000 after buying an additional 605 shares in the last quarter. Allworth Financial LP lifted its holdings in Avidity Biosciences by 22.8% during the 3rd quarter. Allworth Financial LP now owns 856 shares of the biotechnology company’s stock worth $37,000 after buying an additional 159 shares in the last quarter. Westside Investment Management Inc. bought a new position in Avidity Biosciences in the 2nd quarter valued at $29,000. Finally, Comerica Bank increased its stake in shares of 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 buying an additional 576 shares during the period.

Trending Headlines about 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

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.