Yakira Capital Management Inc. acquired a new position in Avidity Biosciences, Inc. (NASDAQ:RNA – Free Report) in the fourth quarter, Holdings Channel reports. The fund acquired 80,956 shares of the biotechnology company’s stock, valued at approximately $5,839,000. Avidity Biosciences makes up approximately 2.0% of Yakira Capital Management Inc.’s investment portfolio, making the stock its 16th biggest position.
A number of other large investors also recently bought and sold shares of RNA. JPMorgan Chase & Co. increased its position in shares of Avidity Biosciences by 55.0% during the third quarter. JPMorgan Chase & Co. now owns 899,557 shares of the biotechnology company’s stock worth $39,194,000 after purchasing an additional 319,282 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Avidity Biosciences by 173.2% during the third quarter. Envestnet Asset Management Inc. now owns 179,103 shares of the biotechnology company’s stock worth $7,804,000 after purchasing an additional 113,545 shares in the last quarter. Aberdeen Group plc increased its position in shares of Avidity Biosciences by 8.9% during the third quarter. Aberdeen Group plc now owns 304,828 shares of the biotechnology company’s stock worth $13,281,000 after purchasing an additional 25,000 shares in the last quarter. Allianz Asset Management GmbH acquired a new position in shares of Avidity Biosciences during the third quarter worth $632,000. Finally, Vanguard Group Inc. increased its position in shares of Avidity Biosciences by 42.9% during the third quarter. Vanguard Group Inc. now owns 13,219,759 shares of the biotechnology company’s stock worth $575,985,000 after purchasing an additional 3,971,457 shares in the last quarter.
Avidity Biosciences Stock Performance
NASDAQ:RNA opened at $12.37 on Monday. Avidity Biosciences, Inc. has a one year low of $11.40 and a one year high of $16.77. The firm has a market cap of $211.60 million, a price-to-earnings ratio of -2.49 and a beta of 0.93. The firm’s fifty day moving average is $13.09 and its two-hundred day moving average is $41.60.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on RNA shares. Weiss Ratings downgraded Avidity Biosciences from a “sell (d-)” rating to a “sell (e-)” rating in a research report on Friday, May 22nd. Wall Street Zen raised Avidity Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, May 30th. HC Wainwright reissued a “neutral” rating on shares of Avidity Biosciences in a report on Friday, May 1st. Wells Fargo & Company began coverage on shares of Avidity Biosciences in a report on Wednesday, March 11th. They set an “overweight” rating on the stock. Finally, Leerink Partners began coverage on shares of Avidity Biosciences in a report on Friday, May 15th. They set an “outperform” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Avidity Biosciences has an average rating of “Hold” and an average target price of $70.29.
View Our Latest Stock Analysis on Avidity Biosciences
Avidity Biosciences Company 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.
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