Avidity Biosciences, Inc. (NASDAQ:RNA) Shares Sold by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. lowered its position in shares of Avidity Biosciences, Inc. (NASDAQ:RNA) by 38.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,476 shares of the biotechnology company’s stock after selling 6,489 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Avidity Biosciences were worth $95,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Los Angeles Capital Management LLC boosted its stake in Avidity Biosciences by 1.7% in the fourth quarter. Los Angeles Capital Management LLC now owns 60,287 shares of the biotechnology company’s stock valued at $546,000 after acquiring an additional 1,030 shares during the period. Alps Advisors Inc. boosted its position in Avidity Biosciences by 5.1% during the 3rd quarter. Alps Advisors Inc. now owns 54,730 shares of the biotechnology company’s stock valued at $349,000 after purchasing an additional 2,674 shares during the period. Nisa Investment Advisors LLC grew its stake in Avidity Biosciences by 15,900.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,200 shares of the biotechnology company’s stock worth $29,000 after buying an additional 3,180 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in Avidity Biosciences by 43.3% in the fourth quarter. Daiwa Securities Group Inc. now owns 10,537 shares of the biotechnology company’s stock valued at $95,000 after buying an additional 3,182 shares during the last quarter. Finally, Mutual of America Capital Management LLC boosted its holdings in shares of Avidity Biosciences by 2.5% during the third quarter. Mutual of America Capital Management LLC now owns 133,957 shares of the biotechnology company’s stock valued at $855,000 after acquiring an additional 3,323 shares during the period.

Insiders Place Their Bets

In other Avidity Biosciences news, Director Arthur A. Levin sold 20,000 shares of Avidity Biosciences stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $27.11, for a total value of $542,200.00. Following the transaction, the director now directly owns 253,872 shares of the company’s stock, valued at approximately $6,882,469.92. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Avidity Biosciences news, Director Arthur A. Levin sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $27.11, for a total value of $542,200.00. Following the completion of the sale, the director now owns 253,872 shares in the company, valued at approximately $6,882,469.92. 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 Avidity Biosciences stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $22.03, for a total value of $608,931.23. Following the sale, the director now directly owns 14,830 shares in the company, valued at approximately $326,704.90. The disclosure for this sale can be found here. Insiders sold a total of 232,641 shares of company stock valued at $5,391,551 in the last quarter. Insiders own 2.00% of the company’s stock.

Avidity Biosciences Trading Down 2.4 %

NASDAQ RNA traded down $0.64 during trading on Friday, reaching $26.46. The company’s stock had a trading volume of 59,421 shares, compared to its average volume of 1,119,867. The stock has a market capitalization of $2.53 billion, a PE ratio of -9.34 and a beta of 0.79. The business has a 50-day moving average price of $24.09 and a 200-day moving average price of $14.49. Avidity Biosciences, Inc. has a 1-year low of $4.82 and a 1-year high of $27.66.

Avidity Biosciences (NASDAQ:RNA) last issued its quarterly earnings data on Wednesday, February 28th. The biotechnology company reported ($0.79) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $2.19 million for the quarter, compared to analyst estimates of $32.08 million. As a group, analysts expect that Avidity Biosciences, Inc. will post -3.07 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Cantor Fitzgerald assumed coverage on shares of Avidity Biosciences in a report on Thursday, March 14th. They issued an “overweight” rating and a $60.00 price objective on the stock. Chardan Capital reiterated a “buy” rating and set a $23.00 price objective on shares of Avidity Biosciences in a research report on Thursday, February 29th. Needham & Company LLC reissued a “buy” rating and set a $35.00 price target on shares of Avidity Biosciences in a report on Friday. Finally, Bank of America began coverage on Avidity Biosciences in a report on Friday, May 3rd. They set a “buy” rating and a $40.00 target price on the stock. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $36.86.

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.