Natixis Advisors LLC Has $416,000 Stock Holdings in Avidity Biosciences, Inc. (NASDAQ:RNA)

Natixis Advisors LLC lifted its position in shares of Avidity Biosciences, Inc. (NASDAQ:RNA) by 3.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,095 shares of the biotechnology company’s stock after purchasing an additional 518 shares during the period. Natixis Advisors LLC’s holdings in Avidity Biosciences were worth $416,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. LPL Financial LLC boosted its holdings in shares of Avidity Biosciences by 273.9% during the 4th quarter. LPL Financial LLC now owns 16,726 shares of the biotechnology company’s stock worth $486,000 after buying an additional 12,253 shares during the period. Legal & General Group Plc boosted its holdings in shares of Avidity Biosciences by 7.3% during the 4th quarter. Legal & General Group Plc now owns 102,100 shares of the biotechnology company’s stock worth $2,969,000 after buying an additional 6,937 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Avidity Biosciences by 48.8% during the 4th quarter. Renaissance Technologies LLC now owns 211,200 shares of the biotechnology company’s stock worth $6,142,000 after buying an additional 69,300 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Avidity Biosciences during the 4th quarter worth about $5,784,000. Finally, Summit Investment Advisors Inc. boosted its holdings in shares of Avidity Biosciences by 6.1% during the 4th quarter. Summit Investment Advisors Inc. now owns 11,611 shares of the biotechnology company’s stock worth $338,000 after buying an additional 666 shares during the period.

Avidity Biosciences Stock Performance

RNA opened at $45.75 on Tuesday. The firm has a market cap of $5.89 billion, a P/E ratio of -15.25 and a beta of 0.95. The firm has a 50-day moving average of $33.50 and a 200 day moving average of $31.39. Avidity Biosciences, Inc. has a fifty-two week low of $21.51 and a fifty-two week high of $56.00.

Insider Buying and Selling

In related news, Director Arthur A. Levin sold 107,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $47.62, for a total value of $5,119,150.00. Following the sale, the director directly owned 19,650 shares of the company’s stock, valued at $935,733. This trade represents a 84.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Steven George Hughes sold 81,434 shares of the firm’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $42.74, for a total transaction of $3,480,489.16. Following the completion of the sale, the insider directly owned 38,867 shares in the company, valued at $1,661,175.58. This represents a 67.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 443,826 shares of company stock valued at $19,597,686 in the last three months. Insiders own 3.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Wells Fargo & Company lifted their target price on shares of Avidity Biosciences from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday. JPMorgan Chase & Co. lifted their price objective on shares of Avidity Biosciences from $57.00 to $59.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 10th. Raymond James Financial assumed coverage on shares of Avidity Biosciences in a research note on Wednesday, June 11th. They issued a “strong-buy” rating and a $65.00 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $96.00 price objective on shares of Avidity Biosciences in a research note on Friday, June 27th. Finally, Bank of America lifted their price objective on shares of Avidity Biosciences from $48.00 to $54.00 and gave the stock a “buy” rating in a research note on Monday, June 9th. Seventeen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $67.00.

Avidity Biosciences 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.