Key Points
- CFO Michael Maclean sold 4,542 shares at an average price of $72.45 for about $329,068, reducing his holding by 7.12% to 59,290 shares (≈$4.30M).
- Broad insider selling this week — including CEO Sarah Boyce (14,387 shares, ≈$1.04M) and several other executives/directors — signals concentrated insider dispositions.
- Stock snapshot: RNA is trading near its 12‑month high (~$72.74) with a market cap of ~$10.94B, negative earnings (consensus "Hold" rating and $69.57 price target) and analysts forecasting FY EPS around -2.89.
Avidity Biosciences, Inc. (NASDAQ:RNA - Get Free Report) Director Arthur Levin sold 1,758 shares of the business's stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $72.45, for a total value of $127,367.10. Following the completion of the sale, the director owned 16,562 shares in the company, valued at approximately $1,199,916.90. This trade represents a 9.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Avidity Biosciences Price Performance
RNA stock opened at $72.60 on Friday. The stock has a market capitalization of $10.94 billion, a P/E ratio of -17.37 and a beta of 0.95. Avidity Biosciences, Inc. has a fifty-two week low of $21.51 and a fifty-two week high of $72.74. The business has a 50-day moving average of $71.88 and a 200-day moving average of $55.74.
Avidity Biosciences (NASDAQ:RNA - Get Free Report) last announced its earnings results on Monday, November 10th. The biotechnology company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.05) by ($0.22). Avidity Biosciences had a negative net margin of 2,634.59% and a negative return on equity of 37.70%. The firm had revenue of $12.48 million during the quarter, compared to analyst estimates of $1.80 million. Avidity Biosciences's revenue was up 420.8% on a year-over-year basis. Equities analysts expect that Avidity Biosciences, Inc. will post -2.89 EPS for the current year.
Key Headlines Impacting Avidity Biosciences
Here are the key news stories impacting Avidity Biosciences this week:
- Negative Sentiment: CEO Sarah Boyce sold 14,387 shares for ~$1.04M (a 5.08% reduction in her holding). CEO Form 4
- Negative Sentiment: CFO Michael F. Maclean sold 4,542 shares for ~$329k (a 7.12% reduction). CFO Form 4
- Negative Sentiment: Insider W. Michael Flanagan sold 6,534 shares for ~$473k (a 7.13% reduction). Insider Form 4
- Negative Sentiment: Insider Steven George Hughes sold 4,895 shares for ~$355k (a 13.41% reduction). Insider Form 4
- Negative Sentiment: Insider Teresa McCarthy sold 2,929 shares for ~$212k (a 2.51% reduction). Insider Form 4
- Negative Sentiment: Director Arthur A. Levin sold 1,758 shares for ~$127k (a 9.60% reduction). Director Form 4
Analyst Ratings Changes
RNA has been the subject of several recent research reports. Leerink Partners cut shares of Avidity Biosciences from a "strong-buy" rating to a "hold" rating in a report on Monday, October 27th. Royal Bank Of Canada reissued a "sector perform" rating and set a $72.00 price target (up from $61.00) on shares of Avidity Biosciences in a research report on Tuesday, October 28th. Evercore ISI set a $72.00 price objective on shares of Avidity Biosciences in a research note on Thursday, December 18th. Needham & Company LLC cut Avidity Biosciences from a "buy" rating to a "hold" rating and set a $65.00 price objective for the company. in a report on Monday, October 27th. Finally, Roth Mkm lowered Avidity Biosciences from a "strong-buy" rating to a "hold" rating and set a $72.00 target price on the stock. in a report on Monday, October 27th. 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 currently has an average rating of "Hold" and a consensus price target of $69.57.
Read Our Latest Analysis on Avidity Biosciences
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the company. Allworth Financial LP increased its stake in shares of 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 purchasing an additional 159 shares during the last quarter. Fort Point Capital Partners LLC lifted its stake in Avidity Biosciences by 0.6% in the 3rd quarter. Fort Point Capital Partners LLC now owns 31,278 shares of the biotechnology company's stock valued at $1,363,000 after purchasing an additional 183 shares during the last quarter. GAMMA Investing LLC grew its holdings in Avidity Biosciences by 10.5% during the fourth quarter. GAMMA Investing LLC now owns 2,471 shares of the biotechnology company's stock worth $178,000 after purchasing an additional 234 shares during the period. AlphaQuest LLC increased its position 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 buying an additional 331 shares during the last quarter. Finally, California State Teachers Retirement System increased its position in Avidity Biosciences by 0.5% during the second quarter. California State Teachers Retirement System now owns 90,258 shares of the biotechnology company's stock worth $2,563,000 after buying an additional 466 shares during the last quarter.
Avidity Biosciences Company Profile
(
Get Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
