Avidity Biosciences, Inc. $RNA Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lessened its holdings in Avidity Biosciences, Inc. (NASDAQ:RNA - Free Report) by 2.0% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,243,205 shares of the biotechnology company's stock after selling 188,706 shares during the quarter. Vanguard Group Inc. owned approximately 7.67% of Avidity Biosciences worth $272,859,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Privium Fund Management B.V. lifted its stake in shares of Avidity Biosciences by 8.2% during the 1st quarter. Privium Fund Management B.V. now owns 34,500 shares of the biotechnology company's stock worth $1,018,000 after purchasing an additional 2,600 shares during the last quarter. Natixis Advisors LLC raised its stake 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 buying an additional 518 shares during the last quarter. Fiera Capital Corp raised its stake in Avidity Biosciences by 92.5% in the first quarter. Fiera Capital Corp now owns 772,300 shares of the biotechnology company's stock valued at $22,798,000 after buying an additional 371,121 shares during the last quarter. Mackenzie Financial Corp purchased a new stake in Avidity Biosciences in the first quarter valued at about $213,000. Finally, TD Asset Management Inc raised its stake in Avidity Biosciences by 4.3% in the first quarter. TD Asset Management Inc now owns 433,142 shares of the biotechnology company's stock valued at $12,786,000 after buying an additional 17,970 shares during the last quarter.

Insider Buying and Selling

In other Avidity Biosciences news, insider Teresa Mccarthy sold 10,000 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $46.56, for a total value of $465,600.00. Following the sale, the insider directly owned 97,130 shares of the company's stock, valued at approximately $4,522,372.80. This trade represents a 9.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steven George Hughes sold 81,434 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $42.74, for a total value of $3,480,489.16. Following the completion of the transaction, the insider owned 38,867 shares in the company, valued at approximately $1,661,175.58. This trade represents a 67.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold 453,826 shares of company stock valued at $20,063,286 in the last 90 days. Corporate insiders own 3.83% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RNA. Citigroup increased their price objective on Avidity Biosciences from $70.00 to $75.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Wolfe Research began coverage on Avidity Biosciences in a report on Tuesday, June 17th. They issued an "outperform" rating and a $55.00 price objective on the stock. HC Wainwright cut their price objective on Avidity Biosciences from $72.00 to $68.00 and set a "buy" rating on the stock in a report on Monday, May 12th. Sanford C. Bernstein began coverage on Avidity Biosciences in a report on Tuesday, June 24th. They issued an "outperform" rating and a $50.00 price objective on the stock. Finally, Barclays reissued an "overweight" rating and issued a $62.00 price objective (up from $59.00) on shares of Avidity Biosciences in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating and seventeen have issued a Buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $67.00.

Avidity Biosciences Trading Up 4.6%

RNA traded up $2.0360 during trading on Friday, hitting $46.6960. The company's stock had a trading volume of 421,780 shares, compared to its average volume of 1,835,222. Avidity Biosciences, Inc. has a twelve month low of $21.51 and a twelve month high of $56.00. The business's fifty day simple moving average is $35.33 and its 200 day simple moving average is $32.14. The firm has a market capitalization of $6.01 billion, a price-to-earnings ratio of -13.16 and a beta of 0.95.

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.