Avidity Biosciences (NASDAQ:RNA) Insider John Moriarty Sells 2,374 Shares

Avidity Biosciences, Inc. (NASDAQ:RNA) insider John Moriarty sold 2,374 shares of the business’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $72.23, for a total transaction of $171,474.02. Following the completion of the sale, the insider owned 74,557 shares in the company, valued at approximately $5,385,252.11. This trade represents a 3.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Avidity Biosciences Stock Performance

NASDAQ:RNA opened at $72.37 on Friday. The company has a 50-day moving average of $71.41 and a 200-day moving average of $52.73. Avidity Biosciences, Inc. 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 price-to-earnings ratio of -17.31 and a beta of 0.95.

Avidity Biosciences (NASDAQ:RNA) last issued its earnings results on Monday, November 10th. The biotechnology company reported ($1.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.05) by ($0.22). The business had revenue of $12.48 million for the quarter, compared to the consensus estimate of $1.80 million. Avidity Biosciences had a negative return on equity of 37.70% and a negative net margin of 2,634.59%.The business’s revenue for the quarter was up 420.8% compared to the same quarter last year. On average, research analysts forecast that Avidity Biosciences, Inc. will post -2.89 earnings per share for the current year.

Hedge Funds Weigh In On Avidity Biosciences

Several hedge funds have recently bought and sold shares of the business. AlphaQuest LLC raised its holdings in Avidity Biosciences by 123.0% during the third quarter. AlphaQuest LLC now owns 600 shares of the biotechnology company’s stock valued at $26,000 after buying an additional 331 shares in the last quarter. CWM LLC lifted its holdings in Avidity Biosciences by 1,635.1% in the 3rd quarter. CWM LLC now owns 642 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 605 shares during the last quarter. Allworth Financial LP boosted its position in Avidity Biosciences by 22.8% during the third quarter. Allworth Financial LP now owns 856 shares of the biotechnology company’s stock worth $37,000 after purchasing an additional 159 shares during the period. Westside Investment Management Inc. bought a new stake in Avidity Biosciences during the second quarter worth approximately $29,000. Finally, Comerica Bank grew its holdings in Avidity Biosciences by 75.9% during the third quarter. Comerica Bank now owns 1,335 shares of the biotechnology company’s stock valued at $58,000 after purchasing an additional 576 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Leerink Partners reiterated a “market perform” rating and issued a $72.00 price target (up previously from $65.00) on shares of Avidity Biosciences in a research report on Monday, October 27th. Citigroup cut shares of Avidity Biosciences from a “buy” rating to a “hold” rating in a report on Monday, October 27th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $72.00 target price (up from $61.00) on shares of Avidity Biosciences in a research report on Tuesday, October 28th. Chardan Capital restated a “neutral” rating and issued a $72.00 price target on shares of Avidity Biosciences in a research report on Tuesday, November 11th. Finally, Sanford C. Bernstein cut shares of Avidity Biosciences from an “outperform” rating to a “market perform” rating and lifted their price objective for the stock from $52.00 to $72.00 in a research report on Monday, October 27th. Eight equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Avidity Biosciences currently has an average rating of “Hold” and an average price target of $69.57.

Key Stories Impacting 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

About Avidity Biosciences

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.