Teresa Mccarthy Sells 20,000 Shares of Avidity Biosciences (NASDAQ:RNA) Stock

Key Points

• Teresa Mccarthy sold 20,000 shares of Avidity Biosciences stock for $1,003,000, reducing her ownership by 17.08% and leaving her with 97,130 shares valued at approximately $4.87 million.
• Avidity Biosciences' stock is currently trading at $47.89, reflecting a 1.8% decline, with a market cap of $6.99 billion and a 52-week price range between $21.51 and $56.00.
• Analysts have mixed ratings on the stock, with target prices ranging from $65.00 to $96.00, leading to a consensus rating of "Moderate Buy" and an average target price of $68.32.

Avidity Biosciences, Inc. (NASDAQ:RNA - Get Free Report) insider Teresa Mccarthy sold 20,000 shares of the business's stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $50.15, for a total transaction of $1,003,000.00. Following the sale, the insider owned 97,130 shares in the company, valued at $4,871,069.50. This trade represents a 17.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Teresa Mccarthy also recently made the following trade(s):

• On Friday, August 15th, Teresa Mccarthy sold 10,000 shares of Avidity Biosciences stock. The stock was sold at an average price of $46.56, for a total transaction of $465,600.00.

Avidity Biosciences Stock Down 1.8%

NASDAQ:RNA traded down $0.89 on Friday, reaching $47.89. 1,998,625 shares of the company's stock were exchanged, compared to its average volume of 2,059,935. The firm has a market capitalization of $6.99 billion, a price-to-earnings ratio of -13.45 and a beta of 0.97. The business has a fifty day moving average of $45.56 and a 200-day moving average of $35.99. Avidity Biosciences, Inc. has a 52-week low of $21.51 and a 52-week high of $56.00.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Cantor Fitzgerald restated an "overweight" rating and set a $96.00 target price on shares of Avidity Biosciences in a research note on Friday, June 27th. Wells Fargo & Company upped their target price on shares of Avidity Biosciences from $70.00 to $75.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Evercore ISI cut their target price on shares of Avidity Biosciences from $70.00 to $65.00 and set an "outperform" rating on the stock in a research note on Monday, September 22nd. HC Wainwright increased their price target on shares of Avidity Biosciences from $68.00 to $87.00 and gave the company a "buy" rating in a research note on Friday, September 12th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Avidity Biosciences in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Avidity Biosciences presently has a consensus rating of "Moderate Buy" and an average target price of $68.32.

Institutional Investors Weigh In On Avidity Biosciences

Large investors have recently modified their holdings of the company. CWM LLC boosted its holdings in shares of Avidity Biosciences by 1,635.1% in the third quarter. CWM LLC now owns 642 shares of the biotechnology company's stock valued at $28,000 after acquiring an additional 605 shares during the period. Westside Investment Management Inc. acquired a new stake in shares of Avidity Biosciences in the second quarter valued at approximately $29,000. PNC Financial Services Group Inc. boosted its holdings in shares of Avidity Biosciences by 291.5% in the second quarter. PNC Financial Services Group Inc. now owns 1,476 shares of the biotechnology company's stock valued at $42,000 after acquiring an additional 1,099 shares during the period. Osaic Holdings Inc. boosted its holdings in shares of Avidity Biosciences by 1,659.1% in the second quarter. Osaic Holdings Inc. now owns 1,636 shares of the biotechnology company's stock valued at $48,000 after acquiring an additional 1,543 shares during the period. Finally, Elevation Point Wealth Partners LLC acquired a new stake in shares of Avidity Biosciences in the second quarter valued at approximately $49,000.

About Avidity Biosciences

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.

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