Northern Trust Corp Has $31.39 Million Stock Holdings in Avidity Biosciences, Inc. (NASDAQ:RNA)

Northern Trust Corp lifted its holdings in Avidity Biosciences, Inc. (NASDAQ:RNA - Free Report) by 11.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,079,434 shares of the biotechnology company's stock after purchasing an additional 108,303 shares during the quarter. Northern Trust Corp owned 0.90% of Avidity Biosciences worth $31,390,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of RNA. Price T Rowe Associates Inc. MD lifted its stake in Avidity Biosciences by 3.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,042,823 shares of the biotechnology company's stock worth $321,127,000 after acquiring an additional 408,861 shares in the last quarter. Vanguard Group Inc. lifted its stake in Avidity Biosciences by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 9,431,911 shares of the biotechnology company's stock worth $274,280,000 after acquiring an additional 205,027 shares in the last quarter. Wellington Management Group LLP increased its position in Avidity Biosciences by 15.3% in the 4th quarter. Wellington Management Group LLP now owns 8,106,097 shares of the biotechnology company's stock worth $235,725,000 after purchasing an additional 1,075,148 shares during the last quarter. Avoro Capital Advisors LLC raised its stake in shares of Avidity Biosciences by 9.1% during the 4th quarter. Avoro Capital Advisors LLC now owns 7,500,000 shares of the biotechnology company's stock worth $218,100,000 after purchasing an additional 625,000 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Avidity Biosciences by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 2,807,455 shares of the biotechnology company's stock worth $82,832,000 after purchasing an additional 222,152 shares in the last quarter.

Insider Buying and Selling at Avidity Biosciences

In other news, CEO Sarah Boyce sold 31,540 shares of the company's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $31.06, for a total value of $979,632.40. Following the sale, the chief executive officer now owns 305,871 shares of the company's stock, valued at approximately $9,500,353.26. This represents a 9.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kathleen P. Gallagher sold 5,875 shares of the company's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $27.83, for a total transaction of $163,501.25. Following the completion of the sale, the insider now directly owns 50,554 shares in the company, valued at approximately $1,406,917.82. The trade was a 10.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,803 shares of company stock valued at $1,877,437 in the last 90 days. 3.68% of the stock is currently owned by company insiders.

Avidity Biosciences Price Performance

RNA stock traded up $0.81 on Friday, reaching $29.78. 257,552 shares of the company were exchanged, compared to its average volume of 1,430,036. Avidity Biosciences, Inc. has a 12 month low of $21.51 and a 12 month high of $56.00. The stock's fifty day moving average price is $29.20 and its 200 day moving average price is $33.04. The firm has a market capitalization of $3.59 billion, a PE ratio of -10.34 and a beta of 1.00.

Avidity Biosciences (NASDAQ:RNA - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The biotechnology company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.88) by ($0.02). The business had revenue of $1.60 million during the quarter, compared to the consensus estimate of $2.63 million. Avidity Biosciences had a negative net margin of 2,772.45% and a negative return on equity of 27.66%. As a group, research analysts expect that Avidity Biosciences, Inc. will post -2.89 EPS for the current fiscal year.

Analysts Set New Price Targets

RNA has been the subject of a number of recent research reports. BMO Capital Markets initiated coverage on Avidity Biosciences in a research note on Wednesday, March 12th. They set an "outperform" rating and a $72.00 price target for the company. HC Wainwright cut their price target on Avidity Biosciences from $72.00 to $68.00 and set a "buy" rating for the company in a research note on Monday. Barclays cut their price target on Avidity Biosciences from $63.00 to $57.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $67.00 price target on shares of Avidity Biosciences in a research note on Tuesday, January 21st. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $60.00 price target on shares of Avidity Biosciences in a research note on Wednesday, April 9th. Thirteen analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $66.38.

Avidity Biosciences Company 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.