Avidity Biosciences, Inc. (NASDAQ:RNA) Shares Purchased by Sei Investments Co.

Sei Investments Co. increased its position in shares of Avidity Biosciences, Inc. (NASDAQ:RNA) by 19.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 43,721 shares of the biotechnology company’s stock after acquiring an additional 7,086 shares during the quarter. Sei Investments Co.’s holdings in Avidity Biosciences were worth $1,786,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Avoro Capital Advisors LLC boosted its holdings in shares of Avidity Biosciences by 132.1% in the 1st quarter. Avoro Capital Advisors LLC now owns 5,825,000 shares of the biotechnology company’s stock valued at $148,654,000 after purchasing an additional 3,315,000 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Avidity Biosciences by 4,661.3% in the 1st quarter. Janus Henderson Group PLC now owns 1,242,833 shares of the biotechnology company’s stock valued at $31,704,000 after purchasing an additional 1,216,730 shares during the last quarter. RA Capital Management L.P. boosted its holdings in shares of Avidity Biosciences by 33.7% in the 1st quarter. RA Capital Management L.P. now owns 3,282,180 shares of the biotechnology company’s stock valued at $83,761,000 after purchasing an additional 827,647 shares during the last quarter. Farallon Capital Management LLC acquired a new position in shares of Avidity Biosciences in the 1st quarter valued at $15,467,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Avidity Biosciences by 7.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,429,107 shares of the biotechnology company’s stock valued at $189,592,000 after purchasing an additional 516,446 shares during the last quarter.

Insider Buying and Selling at Avidity Biosciences

In other Avidity Biosciences news, Director Arthur A. Levin sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $45.01, for a total transaction of $225,050.00. Following the sale, the director now owns 14,830 shares in the company, valued at $667,498.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, Director Arthur A. Levin sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $45.01, for a total transaction of $225,050.00. Following the completion of the transaction, the director now directly owns 14,830 shares of the company’s stock, valued at approximately $667,498.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sarah Boyce sold 28,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $39.93, for a total value of $1,118,040.00. Following the transaction, the chief executive officer now directly owns 205,043 shares of the company’s stock, valued at $8,187,366.99. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 128,543 shares of company stock worth $5,543,382 over the last quarter. 3.68% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

RNA has been the topic of a number of research reports. Needham & Company LLC reissued a “buy” rating and issued a $60.00 target price on shares of Avidity Biosciences in a research note on Tuesday, August 13th. Cantor Fitzgerald reissued an “overweight” rating and issued a $96.00 target price on shares of Avidity Biosciences in a research note on Monday, September 16th. Barclays initiated coverage on shares of Avidity Biosciences in a research note on Wednesday, August 28th. They issued an “overweight” rating and a $63.00 target price on the stock. Evercore ISI cut their target price on shares of Avidity Biosciences from $54.00 to $53.00 and set an “outperform” rating on the stock in a research note on Monday, August 26th. Finally, Bank of America lifted their price target on shares of Avidity Biosciences from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, June 13th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Avidity Biosciences has a consensus rating of “Buy” and a consensus price target of $60.75.

Avidity Biosciences Stock Up 0.5 %

Avidity Biosciences stock opened at $47.30 on Friday. Avidity Biosciences, Inc. has a 12-month low of $4.82 and a 12-month high of $49.41. The firm’s fifty day moving average price is $43.75 and its 200 day moving average price is $35.70.

Avidity Biosciences (NASDAQ:RNA) last issued its quarterly earnings results on Friday, August 9th. The biotechnology company reported ($0.65) EPS for the quarter, topping the consensus estimate of ($0.76) by $0.11. The business had revenue of $2.05 million for the quarter, compared to analysts’ expectations of $7.09 million. Avidity Biosciences had a negative net margin of 2,381.82% and a negative return on equity of 32.89%. Equities analysts anticipate that Avidity Biosciences, Inc. will post -3.01 EPS 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.