Privium Fund Management B.V. Has $1.31 Million Holdings in Avidity Biosciences, Inc. $RNA

Key Points

• Privium Fund Management B.V. increased its holdings in Avidity Biosciences by 33.3%, owning 46,000 shares valued at $1.31 million as of the latest SEC filing.
• Avidity Biosciences' stock has received multiple upgrades from analysts, with price targets ranging from $62.00 to $75.00, reflecting strong investor confidence in the company.
• Insider trading activity included the sale of 130,807 shares by Eric Mosbrooker, reducing their ownership by 70.40%, indicating potential caution from insiders amidst high stock valuation.

Privium Fund Management B.V. lifted its position in Avidity Biosciences, Inc. (NASDAQ:RNA - Free Report) by 33.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,000 shares of the biotechnology company's stock after buying an additional 11,500 shares during the quarter. Avidity Biosciences comprises approximately 0.3% of Privium Fund Management B.V.'s holdings, making the stock its 27th biggest position. Privium Fund Management B.V.'s holdings in Avidity Biosciences were worth $1,309,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RNA. SG Americas Securities LLC acquired a new stake in Avidity Biosciences in the first quarter valued at $516,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Avidity Biosciences in the 1st quarter valued at about $226,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Avidity Biosciences by 291.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,570 shares of the biotechnology company's stock valued at $492,000 after purchasing an additional 11,594 shares during the period. Amalgamated Bank lifted its stake in Avidity Biosciences by 12.0% in the 1st quarter. Amalgamated Bank now owns 3,915 shares of the biotechnology company's stock valued at $116,000 after purchasing an additional 418 shares during the last quarter. Finally, GF Fund Management CO. LTD. grew its holdings in Avidity Biosciences by 22.0% during the first quarter. GF Fund Management CO. LTD. now owns 3,055 shares of the biotechnology company's stock worth $90,000 after purchasing an additional 550 shares during the period.

Insider Buying and Selling at Avidity Biosciences

In other Avidity Biosciences news, insider Eric Mosbrooker sold 130,807 shares of Avidity Biosciences stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $44.06, for a total value of $5,763,356.42. Following the completion of the sale, the insider owned 55,000 shares in the company, valued at $2,423,300. The trade was a 70.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven George Hughes sold 81,434 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $42.74, for a total transaction of $3,480,489.16. Following the transaction, the insider directly owned 38,867 shares in the company, valued at $1,661,175.58. This represents a 67.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 569,269 shares of company stock valued at $26,205,238 in the last quarter. Company insiders own 3.83% of the company's stock.

Avidity Biosciences Stock Performance

RNA opened at $49.01 on Tuesday. The stock has a fifty day moving average of $45.66 and a 200-day moving average of $36.40. The company has a market capitalization of $7.15 billion, a P/E ratio of -13.77 and a beta of 0.97. Avidity Biosciences, Inc. has a fifty-two week low of $21.51 and a fifty-two week high of $56.00.

Wall Street Analyst Weigh In

Several research firms have issued reports on RNA. Bank of America upped their price objective on Avidity Biosciences from $56.00 to $65.00 and gave the company a "buy" rating in a research note on Monday, September 15th. Needham & Company LLC increased their price target on Avidity Biosciences from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Wednesday, September 10th. Barclays reaffirmed an "overweight" rating and set a $62.00 price objective (up from $59.00) on shares of Avidity Biosciences in a research report on Friday, August 8th. Chardan Capital reiterated a "buy" rating and issued a $75.00 price objective on shares of Avidity Biosciences in a report on Wednesday, September 10th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $96.00 price objective on shares of Avidity Biosciences in a research report on Friday, June 27th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $67.78.

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.

Want to see what other hedge funds are holding RNA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Avidity Biosciences, Inc. (NASDAQ:RNA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.