Avidity Biosciences (NASDAQ:RNA) Insider Steven George Hughes Sells 2,209 Shares

Avidity Biosciences, Inc. (NASDAQ:RNA) insider Steven George Hughes sold 2,209 shares of the stock in a transaction that occurred on Wednesday, October 22nd. The stock was sold at an average price of $47.54, for a total transaction of $105,015.86. Following the transaction, the insider directly owned 38,867 shares in the company, valued at approximately $1,847,737.18. This represents a 5.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, September 22nd, Steven George Hughes sold 2,208 shares of Avidity Biosciences stock. The shares were sold at an average price of $40.58, for a total transaction of $89,600.64.
• On Friday, August 22nd, Steven George Hughes sold 2,208 shares of Avidity Biosciences stock. The stock was sold at an average price of $46.40, for a total value of $102,451.20.
• On Wednesday, August 6th, Steven George Hughes sold 81,434 shares of Avidity Biosciences stock. The stock was sold at an average price of $42.74, for a total value of $3,480,489.16.

Avidity Biosciences Trading Up 1.2%

Shares of Avidity Biosciences stock opened at $49.15 on Friday. The business’s fifty day moving average price is $45.83 and its 200 day moving average price is $36.89. Avidity Biosciences, Inc. has a twelve month low of $21.51 and a twelve month high of $56.00. The stock has a market capitalization of $7.17 billion, a P/E ratio of -13.81 and a beta of 0.97.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Amalgamated Bank increased its stake in Avidity Biosciences by 12.0% during the 1st quarter. Amalgamated Bank now owns 3,915 shares of the biotechnology company’s stock worth $116,000 after buying an additional 418 shares during the period. Corebridge Financial Inc. increased its position in shares of Avidity Biosciences by 0.8% during the first quarter. Corebridge Financial Inc. now owns 55,643 shares of the biotechnology company’s stock worth $1,643,000 after acquiring an additional 463 shares during the last quarter. California State Teachers Retirement System lifted its stake 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 worth $2,563,000 after acquiring an additional 466 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Avidity Biosciences by 9.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,135 shares of the biotechnology company’s stock valued at $181,000 after purchasing an additional 514 shares during the last quarter. Finally, Natixis Advisors LLC boosted its holdings in Avidity Biosciences by 3.8% in the first quarter. Natixis Advisors LLC now owns 14,095 shares of the biotechnology company’s stock valued at $416,000 after purchasing an additional 518 shares during the last quarter.

Analyst Ratings Changes

A number of analysts have recently issued reports on RNA shares. Chardan Capital reiterated a “buy” rating and set a $75.00 target price on shares of Avidity Biosciences in a report on Wednesday, September 10th. Bank of America lifted their price target on shares of Avidity Biosciences from $56.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, September 15th. Wells Fargo & Company increased their price objective on shares of Avidity Biosciences from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, August 8th. Roth Capital initiated coverage on shares of Avidity Biosciences in a research note on Wednesday, September 17th. They issued a “buy” rating and a $62.00 target price on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Avidity Biosciences in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $67.78.

About Avidity Biosciences

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.