Avidity Biosciences, Inc. (NASDAQ:RNA) Shares Purchased by Schroder Investment Management Group

Schroder Investment Management Group boosted its holdings in shares of Avidity Biosciences, Inc. (NASDAQ:RNA) by 99.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 61,480 shares of the biotechnology company’s stock after acquiring an additional 30,697 shares during the quarter. Schroder Investment Management Group owned about 0.05% of Avidity Biosciences worth $1,794,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RNA. Wellington Management Group LLP boosted its position in shares of Avidity Biosciences by 84.9% during the 3rd quarter. Wellington Management Group LLP now owns 7,030,949 shares of the biotechnology company’s stock worth $322,931,000 after purchasing an additional 3,228,923 shares during the period. State Street Corp lifted its stake in Avidity Biosciences by 41.7% during the third quarter. State Street Corp now owns 4,706,106 shares of the biotechnology company’s stock worth $216,151,000 after purchasing an additional 1,386,087 shares in the last quarter. Norges Bank purchased a new position in shares of Avidity Biosciences during the fourth quarter worth $21,077,000. Geode Capital Management LLC grew its stake in shares of Avidity Biosciences by 14.6% in the third quarter. Geode Capital Management LLC now owns 2,585,303 shares of the biotechnology company’s stock valued at $118,767,000 after buying an additional 328,606 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Avidity Biosciences by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 9,431,911 shares of the biotechnology company’s stock valued at $274,280,000 after buying an additional 205,027 shares during the period.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Needham & Company LLC restated a “buy” rating and set a $60.00 target price on shares of Avidity Biosciences in a report on Monday, March 17th. Royal Bank of Canada restated an “outperform” rating and issued a $67.00 price objective on shares of Avidity Biosciences in a report on Tuesday, January 21st. Bank of America reduced their target price on shares of Avidity Biosciences from $51.00 to $48.00 and set a “buy” rating on the stock in a report on Monday, March 10th. BMO Capital Markets started coverage on shares of Avidity Biosciences in a research note on Wednesday, March 12th. They issued an “outperform” rating and a $72.00 price target for the company. Finally, Barclays reduced their price objective on Avidity Biosciences from $63.00 to $57.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Thirteen analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Avidity Biosciences currently has a consensus rating of “Buy” and an average target price of $66.69.

Insider Buying and Selling

In related news, insider Kathleen P. Gallagher sold 5,875 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $27.83, for a total transaction of $163,501.25. Following the transaction, the insider now owns 50,554 shares in the company, valued at $1,406,917.82. This trade represents a 10.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Arthur A. Levin sold 1,872 shares of Avidity Biosciences stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $28.60, for a total value of $53,539.20. Following the transaction, the director now directly owns 12,958 shares in the company, valued at approximately $370,598.80. This trade represents a 12.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 79,318 shares of company stock worth $2,405,390 in the last ninety days. 3.68% of the stock is owned by corporate insiders.

Avidity Biosciences Price Performance

Shares of NASDAQ RNA opened at $26.57 on Monday. Avidity Biosciences, Inc. has a 1 year low of $22.24 and a 1 year high of $56.00. The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of -9.23 and a beta of 1.01. The business has a 50-day moving average of $31.35 and a two-hundred day moving average of $36.64.

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