41,705 Shares in Avidity Biosciences, Inc. (NASDAQ:RNA) Bought by SG Americas Securities LLC

SG Americas Securities LLC acquired a new stake in shares of Avidity Biosciences, Inc. (NASDAQ:RNA - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 41,705 shares of the biotechnology company's stock, valued at approximately $377,000. SG Americas Securities LLC owned about 0.06% of Avidity Biosciences as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in RNA. Adage Capital Partners GP L.L.C. boosted its stake in Avidity Biosciences by 73.3% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,300,000 shares of the biotechnology company's stock valued at $8,294,000 after acquiring an additional 550,000 shares in the last quarter. FMR LLC boosted its position in Avidity Biosciences by 4.6% during the third quarter. FMR LLC now owns 11,114,431 shares of the biotechnology company's stock worth $70,910,000 after acquiring an additional 491,567 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in Avidity Biosciences in the 3rd quarter valued at about $378,000. Aigen Investment Management LP acquired a new position in shares of Avidity Biosciences in the 3rd quarter worth approximately $71,000. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Avidity Biosciences by 33.4% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 34,772 shares of the biotechnology company's stock worth $222,000 after acquiring an additional 8,700 shares during the last quarter.

Avidity Biosciences Stock Up 0.6 %

Shares of RNA traded up $0.15 during mid-day trading on Monday, reaching $24.78. 539,450 shares of the stock traded hands, compared to its average volume of 1,227,663. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of -8.54 and a beta of 0.77. The stock has a fifty day simple moving average of $18.91 and a 200 day simple moving average of $11.58. Avidity Biosciences, Inc. has a 12-month low of $4.82 and a 12-month high of $27.66.

Avidity Biosciences (NASDAQ:RNA - Get Free Report) last released its earnings results on Wednesday, February 28th. The biotechnology company reported ($0.79) earnings per share for the quarter, missing the consensus estimate of ($0.54) by ($0.25). Avidity Biosciences had a negative net margin of 2,219.87% and a negative return on equity of 39.74%. The business had revenue of $2.19 million for the quarter, compared to the consensus estimate of $32.08 million. On average, equities research analysts expect that Avidity Biosciences, Inc. will post -3.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Wells Fargo & Company reiterated an "overweight" rating and set a $50.00 price target on shares of Avidity Biosciences in a research note on Wednesday, January 3rd. Chardan Capital restated a "buy" rating and set a $23.00 target price on shares of Avidity Biosciences in a report on Thursday, February 29th. Cantor Fitzgerald initiated coverage on shares of Avidity Biosciences in a report on Thursday, March 14th. They set an "overweight" rating and a $60.00 price target for the company. Finally, Needham & Company LLC reiterated a "buy" rating and set a $35.00 price target on shares of Avidity Biosciences in a report on Thursday, February 29th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $36.33.

Insider Activity

In related news, insider W. Michael Flanagan sold 4,129 shares of the company's stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $10.13, for a total value of $41,826.77. Following the completion of the sale, the insider now owns 35,871 shares of the company's stock, valued at $363,373.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Avidity Biosciences news, insider W. Michael Flanagan sold 4,129 shares of the company's stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $10.13, for a total value of $41,826.77. Following the completion of the sale, the insider now directly owns 35,871 shares of the company's stock, valued at approximately $363,373.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Arthur A. Levin sold 27,641 shares of the company's stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $22.03, for a total transaction of $608,931.23. Following the completion of the sale, the director now directly owns 14,830 shares of the company's stock, valued at $326,704.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 212,337 shares of company stock valued at $4,690,942. 2.00% of the stock is currently owned by company insiders.

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.