Avidity Biosciences, Inc. (NASDAQ:RNA) Shares Bought by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD grew its holdings in shares of Avidity Biosciences, Inc. (NASDAQ:RNA) by 3.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,042,823 shares of the biotechnology company’s stock after purchasing an additional 408,861 shares during the period. Price T Rowe Associates Inc. MD owned approximately 9.26% of Avidity Biosciences worth $321,127,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in RNA. TD Waterhouse Canada Inc. lifted its holdings in shares of Avidity Biosciences by 646.3% during the fourth quarter. TD Waterhouse Canada Inc. now owns 1,000 shares of the biotechnology company’s stock valued at $29,000 after purchasing an additional 866 shares during the last quarter. Van ECK Associates Corp acquired a new position in shares of Avidity Biosciences in the fourth quarter worth about $38,000. Headlands Technologies LLC purchased a new position in shares of Avidity Biosciences in the fourth quarter worth approximately $60,000. KBC Group NV raised its holdings in shares of Avidity Biosciences by 99.0% during the fourth quarter. KBC Group NV now owns 4,474 shares of the biotechnology company’s stock valued at $130,000 after acquiring an additional 2,226 shares during the period. Finally, US Bancorp DE lifted its position in shares of Avidity Biosciences by 25.2% in the 4th quarter. US Bancorp DE now owns 6,568 shares of the biotechnology company’s stock valued at $191,000 after acquiring an additional 1,324 shares in the last quarter.

Avidity Biosciences Trading Down 0.3 %

NASDAQ RNA opened at $30.84 on Friday. The company has a market cap of $3.71 billion, a P/E ratio of -10.71 and a beta of 1.01. Avidity Biosciences, Inc. has a 1 year low of $21.51 and a 1 year high of $56.00. The company has a fifty day simple moving average of $29.28 and a 200 day simple moving average of $34.66.

Avidity Biosciences (NASDAQ:RNA) last posted its quarterly earnings data on Thursday, February 27th. The biotechnology company reported ($0.80) EPS for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.04). Avidity Biosciences had a negative return on equity of 27.66% and a negative net margin of 2,772.45%. The business had revenue of $2.97 million during the quarter, compared to the consensus estimate of $1.74 million. Equities research analysts forecast that Avidity Biosciences, Inc. will post -2.89 EPS for the current fiscal year.

Analysts Set New Price Targets

RNA has been the subject of a number of research analyst reports. Barclays reduced their target price on Avidity Biosciences from $63.00 to $57.00 and set an “overweight” rating for the company in a report on Friday, February 28th. BMO Capital Markets assumed coverage on Avidity Biosciences in a research note on Wednesday, March 12th. They set an “outperform” rating and a $72.00 target price on the stock. Bank of America reduced their price target on shares of Avidity Biosciences from $51.00 to $48.00 and set a “buy” rating for the company in a research report on Monday, March 10th. Chardan Capital reaffirmed a “buy” rating and set a $65.00 price objective on shares of Avidity Biosciences in a research report on Monday, March 17th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $67.00 target price on shares of Avidity Biosciences in a research note on Tuesday, January 21st. Thirteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Avidity Biosciences currently has an average rating of “Buy” and a consensus price target of $66.69.

Insider Transactions at Avidity Biosciences

In other Avidity Biosciences news, insider Kathleen P. Gallagher sold 5,875 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $32.16, for a total value of $188,940.00. Following the completion of the sale, the insider now owns 50,554 shares in the company, valued at approximately $1,625,816.64. This trade represents a 10.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael F. Maclean sold 7,935 shares of Avidity Biosciences stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $31.06, for a total transaction of $246,461.10. Following the sale, the chief financial officer now owns 96,720 shares in the company, valued at approximately $3,004,123.20. This trade represents a 7.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 60,803 shares of company stock worth $1,876,027 over the last three months. 3.68% of the stock is currently owned by 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.