31,292 Shares in Avidity Biosciences, Inc. (NASDAQ:RNA) Bought by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. purchased a new position in shares of Avidity Biosciences, Inc. (NASDAQ:RNA) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 31,292 shares of the biotechnology company’s stock, valued at approximately $283,000.

A number of other large investors have also recently bought and sold shares of RNA. Harbor Capital Advisors Inc. raised its position in Avidity Biosciences by 19.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 30,014 shares of the biotechnology company’s stock worth $191,000 after buying an additional 4,902 shares during the last quarter. Raymond James & Associates raised its position in Avidity Biosciences by 11.8% during the 3rd quarter. Raymond James & Associates now owns 93,255 shares of the biotechnology company’s stock worth $595,000 after buying an additional 9,815 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in Avidity Biosciences by 33.4% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 34,772 shares of the biotechnology company’s stock worth $222,000 after buying an additional 8,700 shares during the last quarter. TD Asset Management Inc raised its position in Avidity Biosciences by 100.0% during the 3rd quarter. TD Asset Management Inc now owns 267,732 shares of the biotechnology company’s stock worth $1,708,000 after buying an additional 133,866 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in shares of Avidity Biosciences by 89.5% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 66,220 shares of the biotechnology company’s stock valued at $422,000 after purchasing an additional 31,277 shares in the last quarter.

Avidity Biosciences Stock Performance

NASDAQ:RNA opened at $23.83 on Friday. The firm has a 50-day moving average price of $21.95 and a two-hundred day moving average price of $13.14. Avidity Biosciences, Inc. has a twelve month low of $4.82 and a twelve month high of $27.66.

Avidity Biosciences (NASDAQ:RNA) last posted its earnings results on Wednesday, February 28th. The biotechnology company reported ($0.79) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $2.19 million for the quarter, compared to analysts’ expectations of $32.08 million. On average, equities analysts anticipate that Avidity Biosciences, Inc. will post -3.07 earnings per share for the current year.

Insiders Place Their Bets

In other Avidity Biosciences news, CEO Sarah Boyce sold 28,000 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $22.63, for a total transaction of $633,640.00. Following the sale, the chief executive officer now directly owns 112,117 shares of the company’s stock, valued at approximately $2,537,207.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Avidity Biosciences news, CEO Sarah Boyce sold 28,000 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $22.63, for a total transaction of $633,640.00. Following the sale, the chief executive officer now directly owns 112,117 shares of the company’s stock, valued at approximately $2,537,207.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arthur A. Levin sold 27,641 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $22.03, for a total transaction of $608,931.23. Following the sale, the director now directly owns 14,830 shares in the company, valued at $326,704.90. The disclosure for this sale can be found here. Insiders have sold 204,641 shares of company stock valued at $4,676,431 in the last ninety days. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

RNA has been the subject of a number of research analyst reports. Chardan Capital reiterated a “buy” rating and issued a $23.00 price target on shares of Avidity Biosciences in a report on Thursday, February 29th. Wells Fargo & Company reiterated an “overweight” rating and issued a $50.00 price target on shares of Avidity Biosciences in a report on Wednesday, January 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $35.00 price target on shares of Avidity Biosciences in a report on Thursday, April 11th. Finally, Cantor Fitzgerald initiated coverage on shares of Avidity Biosciences in a report on Thursday, March 14th. They issued an “overweight” rating and a $60.00 price target for the company. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Avidity Biosciences has a consensus rating of “Buy” and an average target price of $36.33.

About Avidity Biosciences

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.