Fiera Capital Corp Has $52.39 Million Position in Avidity Biosciences, Inc. $RNA

Fiera Capital Corp lifted its position in shares of Avidity Biosciences, Inc. (NASDAQ:RNA) by 53.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,202,384 shares of the biotechnology company’s stock after purchasing an additional 420,476 shares during the period. Fiera Capital Corp owned 0.82% of Avidity Biosciences worth $52,388,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the company. AlphaQuest LLC grew its holdings 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 purchasing an additional 331 shares during the period. California State Teachers Retirement System lifted its position in shares of 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 buying an additional 466 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Avidity Biosciences by 32.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,954 shares of the biotechnology company’s stock worth $85,000 after acquiring an additional 478 shares during the period. Guggenheim Capital LLC increased its holdings in shares of Avidity Biosciences by 1.6% during the 2nd quarter. Guggenheim Capital LLC now owns 32,602 shares of the biotechnology company’s stock worth $926,000 after acquiring an additional 519 shares during the last quarter. Finally, CWM LLC increased its holdings in shares of 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 acquiring an additional 605 shares during the last quarter.

Avidity Biosciences Trading Up 0.0%

Shares of RNA opened at $72.86 on Friday. Avidity Biosciences, Inc. has a 12 month low of $21.51 and a 12 month high of $73.06. The firm’s 50 day moving average is $72.47 and its 200-day moving average is $60.89. The stock has a market capitalization of $11.27 billion, a PE ratio of -17.43 and a beta of 0.93.

Analyst Upgrades and Downgrades

RNA has been the subject of several research reports. Chardan Capital reaffirmed a “neutral” rating and set a $72.00 price target on shares of Avidity Biosciences in a report on Tuesday, November 11th. HC Wainwright cut shares of Avidity Biosciences from a “buy” rating to a “neutral” rating and cut their target price for the stock from $87.00 to $72.00 in a research note on Monday, October 27th. TD Cowen reaffirmed a “hold” rating on shares of Avidity Biosciences in a report on Wednesday, November 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Avidity Biosciences in a research note on Wednesday, January 21st. Finally, Wolfe Research downgraded shares of Avidity Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 28th. Eight analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Avidity Biosciences has an average rating of “Hold” and a consensus price target of $69.57.

Insider Transactions at Avidity Biosciences

In related news, insider Steven George Hughes sold 4,895 shares of the business’s stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $72.45, for a total value of $354,642.75. Following the completion of the transaction, the insider owned 31,599 shares of the company’s stock, valued at $2,289,347.55. The trade was a 13.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider W. Michael Flanagan sold 6,534 shares of the stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $72.45, for a total transaction of $473,388.30. Following the sale, the insider owned 85,093 shares in the company, valued at $6,164,987.85. The trade was a 7.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 58,407 shares of company stock worth $4,226,448. Corporate insiders own 3.83% of the company’s stock.

Avidity Biosciences 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.