Avidity Biosciences, Inc. (NASDAQ:RNA) Shares Acquired by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. lifted its position in shares of Avidity Biosciences, Inc. (NASDAQ:RNA) by 646.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,000 shares of the biotechnology company’s stock after buying an additional 866 shares during the period. TD Waterhouse Canada Inc.’s holdings in Avidity Biosciences were worth $29,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP increased its holdings in Avidity Biosciences by 15.3% in the 4th quarter. Wellington Management Group LLP now owns 8,106,097 shares of the biotechnology company’s stock valued at $235,725,000 after purchasing an additional 1,075,148 shares during the last quarter. Norges Bank acquired a new stake in Avidity Biosciences in the 4th quarter valued at approximately $21,077,000. Finepoint Capital LP acquired a new position in shares of Avidity Biosciences in the fourth quarter worth $11,379,000. Geode Capital Management LLC grew its stake in shares of Avidity Biosciences by 8.6% in the fourth quarter. Geode Capital Management LLC now owns 2,807,455 shares of the biotechnology company’s stock worth $82,832,000 after acquiring an additional 222,152 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Avidity Biosciences by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 9,431,911 shares of the biotechnology company’s stock worth $274,280,000 after acquiring an additional 205,027 shares in the last quarter.

Insider Buying and Selling

In other Avidity Biosciences news, insider Kathleen P. Gallagher sold 5,875 shares of Avidity Biosciences stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $27.83, for a total value of $163,501.25. Following the transaction, the insider now directly owns 50,554 shares in the company, valued at approximately $1,406,917.82. This trade represents a 10.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sarah Boyce sold 31,540 shares of Avidity Biosciences stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $31.06, for a total value of $979,632.40. Following the completion of the transaction, the chief executive officer now owns 305,871 shares in the company, valued at $9,500,353.26. This trade represents a 9.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 60,803 shares of company stock worth $1,876,027 in the last quarter. 3.68% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have commented on RNA shares. Barclays dropped their price target on shares of Avidity Biosciences from $63.00 to $57.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Royal Bank of Canada restated an “outperform” rating and issued a $67.00 price target on shares of Avidity Biosciences in a research note on Tuesday, January 21st. HC Wainwright restated a “buy” rating and issued a $72.00 price target on shares of Avidity Biosciences in a research note on Monday, March 17th. Needham & Company LLC restated a “buy” rating and issued a $60.00 price target on shares of Avidity Biosciences in a research note on Wednesday, April 9th. Finally, Citigroup started coverage on shares of Avidity Biosciences in a research note on Thursday, March 13th. They issued a “buy” rating and a $70.00 price target for the company. Thirteen analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $66.69.

Avidity Biosciences Stock Up 1.2 %

NASDAQ:RNA opened at $31.20 on Tuesday. The stock’s 50 day moving average price is $29.27 and its 200 day moving average price is $34.41. The company has a market capitalization of $3.75 billion, a PE ratio of -10.83 and a beta of 1.01. Avidity Biosciences, Inc. has a 52-week low of $21.51 and a 52-week high of $56.00.

Avidity Biosciences (NASDAQ:RNA) last released its quarterly earnings results on Thursday, February 27th. The biotechnology company reported ($0.80) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.04). The firm had revenue of $2.97 million for the quarter, compared to analysts’ expectations of $1.74 million. Avidity Biosciences had a negative return on equity of 27.66% and a negative net margin of 2,772.45%. As a group, sell-side analysts anticipate that Avidity Biosciences, Inc. will post -2.89 EPS for the current fiscal year.

Avidity Biosciences Company 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.