Frazier Life Sciences Management L.P. boosted its holdings in shares of Avidity Biosciences, Inc. (NASDAQ:RNA – Free Report) by 57.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 983,125 shares of the biotechnology company’s stock after purchasing an additional 358,125 shares during the period. Avidity Biosciences makes up 1.9% of Frazier Life Sciences Management L.P.’s investment portfolio, making the stock its 14th largest holding. Frazier Life Sciences Management L.P. owned about 0.64% of Avidity Biosciences worth $70,913,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Avidity Biosciences during the 4th quarter worth $13,344,000. Kennedy Capital Management LLC grew its position in Avidity Biosciences by 1.5% during the 4th quarter. Kennedy Capital Management LLC now owns 48,288 shares of the biotechnology company’s stock worth $3,483,000 after purchasing an additional 695 shares during the last quarter. Landscape Capital Management L.L.C. purchased a new position in Avidity Biosciences during the 4th quarter worth $2,344,000. Eventide Asset Management LLC grew its position in Avidity Biosciences by 39.5% during the 4th quarter. Eventide Asset Management LLC now owns 524,643 shares of the biotechnology company’s stock worth $37,843,000 after purchasing an additional 148,654 shares during the last quarter. Finally, Barclays PLC grew its position in Avidity Biosciences by 50.8% during the 4th quarter. Barclays PLC now owns 531,203 shares of the biotechnology company’s stock worth $38,316,000 after purchasing an additional 178,916 shares during the last quarter.
Avidity Biosciences Stock Down 0.5%
Shares of NASDAQ RNA opened at $12.37 on Friday. Avidity Biosciences, Inc. has a 52 week low of $11.40 and a 52 week high of $16.77. The firm has a 50-day moving average price of $13.09 and a 200 day moving average price of $41.81. The stock has a market capitalization of $211.60 million, a price-to-earnings ratio of -2.49 and a beta of 0.93.
Wall Street Analyst Weigh In
RNA has been the topic of several research reports. HC Wainwright reissued a “neutral” rating on shares of Avidity Biosciences in a research report on Friday, May 1st. Leerink Partners initiated coverage on shares of Avidity Biosciences in a research report on Friday, May 15th. They set an “outperform” rating on the stock. Weiss Ratings cut shares of Avidity Biosciences from a “sell (d-)” rating to a “sell (e-)” rating in a research note on Friday, May 22nd. Wells Fargo & Company initiated coverage on shares of Avidity Biosciences in a research note on Wednesday, March 11th. They issued an “overweight” rating for the company. Finally, Wall Street Zen upgraded shares of Avidity Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, May 30th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Avidity Biosciences has a consensus rating of “Hold” and an average target price of $70.29.
Read Our Latest Research Report on RNA
Avidity Biosciences Profile
Avidity Biosciences is a clinical-stage biotechnology company dedicated to developing antibody-oligonucleotide conjugate (AOC) therapies designed to address serious neuromuscular and cardiac diseases. The company’s proprietary AOC platform combines the targeting specificity of monoclonal antibodies with the gene-modulating power of oligonucleotides to deliver therapeutic agents directly into muscle cells. Headquartered in La Jolla, California, Avidity seeks to overcome traditional delivery challenges associated with RNA-based medicines by leveraging receptor-mediated uptake mechanisms.
The company’s lead product candidate, AOC 1001, is in clinical development for myotonic dystrophy type 1 (DM1) and represents the first application of the AOC platform in a human study.
Recommended Stories
- Five stocks we like better than Avidity Biosciences
- Time to Sell? 3 Winners With Fading Technical Momentum
- Why These 2 Hotel Stocks Are Beating Travel Peers
- This Energy Stock Has Quietly Soared 130% in a Year
- 3 ‘Boring’ Dividend Stocks With Tasty Technical Setups
Receive News & Ratings for Avidity Biosciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avidity Biosciences and related companies with MarketBeat.com's FREE daily email newsletter.
