AtonRa Partners Cuts Holdings in Avidity Biosciences, Inc. (NASDAQ:RNA)

AtonRa Partners cut its position in shares of Avidity Biosciences, Inc. (NASDAQ:RNA) by 11.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,834 shares of the biotechnology company’s stock after selling 2,136 shares during the quarter. AtonRa Partners’ holdings in Avidity Biosciences were worth $152,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Nisa Investment Advisors LLC raised its holdings in shares of Avidity Biosciences by 15,900.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,200 shares of the biotechnology company’s stock valued at $29,000 after acquiring an additional 3,180 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in shares of Avidity Biosciences by 352.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,570 shares of the biotechnology company’s stock worth $78,000 after purchasing an additional 6,675 shares in the last quarter. Daiwa Securities Group Inc. raised its position in Avidity Biosciences by 43.3% in the 4th quarter. Daiwa Securities Group Inc. now owns 10,537 shares of the biotechnology company’s stock worth $95,000 after buying an additional 3,182 shares during the last quarter. Aigen Investment Management LP bought a new position in Avidity Biosciences during the third quarter valued at approximately $71,000. Finally, Sherbrooke Park Advisers LLC bought a new stake in shares of Avidity Biosciences in the third quarter worth $107,000.

Insider Activity at Avidity Biosciences

In other news, CEO Sarah Boyce sold 84,000 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $21.39, for a total transaction of $1,796,760.00. Following the transaction, the chief executive officer now owns 112,117 shares in the company, valued at approximately $2,398,182.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Avidity Biosciences news, Director Arthur A. Levin sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $22.82, for a total transaction of $114,100.00. Following the completion of the sale, the director now directly owns 14,830 shares in the company, valued at approximately $338,420.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Sarah Boyce sold 84,000 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $21.39, for a total value of $1,796,760.00. Following the transaction, the chief executive officer now directly owns 112,117 shares of the company’s stock, valued at approximately $2,398,182.63. The disclosure for this sale can be found here. Insiders sold a total of 204,641 shares of company stock worth $4,676,431 in the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Avidity Biosciences Price Performance

Shares of RNA stock traded down $0.01 during trading hours on Tuesday, reaching $24.69. 133,101 shares of the company’s stock were exchanged, compared to its average volume of 1,146,307. Avidity Biosciences, Inc. has a 1 year low of $4.82 and a 1 year high of $27.66. The stock’s fifty day moving average price is $22.36 and its two-hundred day moving average price is $13.49.

Avidity Biosciences (NASDAQ:RNA) last issued its earnings results on Wednesday, February 28th. The biotechnology company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.54) by ($0.25). Avidity Biosciences had a negative return on equity of 39.74% and a negative net margin of 2,219.87%. The business had revenue of $2.19 million for the quarter, compared to analysts’ expectations of $32.08 million. As a group, equities analysts forecast that Avidity Biosciences, Inc. will post -3.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Cantor Fitzgerald started coverage on shares of Avidity Biosciences in a report on Thursday, March 14th. They set an “overweight” rating and a $60.00 target price for the company. Chardan Capital restated a “buy” rating and issued a $23.00 price target on shares of Avidity Biosciences in a research note on Thursday, February 29th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $50.00 target price on shares of Avidity Biosciences in a report on Wednesday, January 3rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $35.00 price target on shares of Avidity Biosciences in a research note on Thursday, April 11th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $36.33.

Avidity Biosciences Profile

Avidity Biosciences, Inc, a biopharmaceutical company, engages in the delivery of RNA therapeutics. It develops antibody oligonucleotide conjugates (AOC) that are designed to treat diseases previously untreatable with RNA therapeutics. The company's lead product candidate AOC 1001 for the treatment of myotonic dystrophy type 1, a rare monogenic muscle disease that is in phase 1/2 clinical trial.