Nwam LLC Has $386,000 Position in Avidity Biosciences, Inc. $RNA

Nwam LLC decreased its holdings in Avidity Biosciences, Inc. (NASDAQ:RNA) by 11.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,597 shares of the biotechnology company’s stock after selling 1,809 shares during the quarter. Nwam LLC’s holdings in Avidity Biosciences were worth $386,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Westside Investment Management Inc. bought a new position in shares of Avidity Biosciences during the 2nd quarter worth approximately $29,000. IFP Advisors Inc raised its stake in Avidity Biosciences by 123.2% during the first quarter. IFP Advisors Inc now owns 3,237 shares of the biotechnology company’s stock worth $96,000 after acquiring an additional 1,787 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Avidity Biosciences by 149.2% during the first quarter. Russell Investments Group Ltd. now owns 4,378 shares of the biotechnology company’s stock valued at $129,000 after acquiring an additional 2,621 shares during the period. Strs Ohio bought a new position in shares of Avidity Biosciences during the first quarter valued at $180,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Avidity Biosciences by 9.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,135 shares of the biotechnology company’s stock valued at $181,000 after purchasing an additional 514 shares in the last quarter.

Analyst Upgrades and Downgrades

RNA has been the subject of a number of recent analyst reports. Wells Fargo & Company increased their target price on shares of Avidity Biosciences from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, August 8th. Wolfe Research lowered shares of Avidity Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Avidity Biosciences in a research report on Wednesday, October 8th. Bank of America raised their target price on Avidity Biosciences from $56.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, September 15th. Finally, Raymond James Financial lowered shares of Avidity Biosciences from a “strong-buy” rating to a “market perform” rating in a report on Monday, October 27th. Nine equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $69.24.

Avidity Biosciences Stock Up 0.2%

Shares of RNA opened at $70.82 on Thursday. The stock’s fifty day simple moving average is $52.01 and its 200-day simple moving average is $40.92. The firm has a market capitalization of $10.67 billion, a PE ratio of -16.94 and a beta of 0.97. Avidity Biosciences, Inc. has a 12-month low of $21.51 and a 12-month high of $70.98.

Avidity Biosciences (NASDAQ:RNA) last announced its quarterly earnings data on Monday, November 10th. The biotechnology company reported ($1.27) EPS for the quarter, missing analysts’ consensus estimates of ($1.05) by ($0.22). Avidity Biosciences had a negative return on equity of 37.70% and a negative net margin of 2,634.59%.The firm had revenue of $12.50 million during the quarter, compared to analyst estimates of $1.80 million. The company’s revenue for the quarter was up 420.8% compared to the same quarter last year. Analysts anticipate that Avidity Biosciences, Inc. will post -2.89 EPS for the current year.

Insider Activity at Avidity Biosciences

In other Avidity Biosciences news, insider Eric Mosbrooker sold 6,562 shares of Avidity Biosciences stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $45.38, for a total transaction of $297,783.56. Following the completion of the sale, the insider owned 55,000 shares of the company’s stock, valued at approximately $2,495,900. The trade was a 10.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Steven George Hughes sold 2,209 shares of the stock in a transaction on Wednesday, October 22nd. The shares were sold at an average price of $47.54, for a total value of $105,015.86. Following the completion of the transaction, the insider directly owned 38,867 shares in the company, valued at approximately $1,847,737.18. This trade represents a 5.38% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 154,438 shares of company stock worth $7,588,537 over the last 90 days. Insiders own 3.83% of the company’s stock.

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.