Lighthouse Investment Partners LLC Takes Position in Avidity Biosciences, Inc. (NASDAQ:RNA)

Lighthouse Investment Partners LLC bought a new stake in Avidity Biosciences, Inc. (NASDAQ:RNAFree Report) in the 4th quarter, HoldingsChannel.com reports. The firm bought 65,362 shares of the biotechnology company’s stock, valued at approximately $592,000.

Several other large investors also recently made changes to their positions in RNA. FMR LLC lifted its position in shares of Avidity Biosciences by 4.6% during the 3rd quarter. FMR LLC now owns 11,114,431 shares of the biotechnology company’s stock worth $70,910,000 after buying an additional 491,567 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Avidity Biosciences by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 4,014,490 shares of the biotechnology company’s stock worth $25,612,000 after purchasing an additional 47,305 shares during the period. Adage Capital Partners GP L.L.C. raised its holdings in shares of Avidity Biosciences by 73.3% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,300,000 shares of the biotechnology company’s stock worth $8,294,000 after purchasing an additional 550,000 shares during the period. Alethea Capital Management LLC raised its holdings in shares of Avidity Biosciences by 0.6% in the 3rd quarter. Alethea Capital Management LLC now owns 854,651 shares of the biotechnology company’s stock worth $5,453,000 after purchasing an additional 5,000 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Avidity Biosciences by 6.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 545,771 shares of the biotechnology company’s stock worth $4,939,000 after purchasing an additional 30,674 shares during the period.

Insider Activity

In related news, CEO Sarah Boyce sold 28,000 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $25.54, for a total value of $715,120.00. Following the completion of the transaction, the chief executive officer now directly owns 112,117 shares of the company’s stock, valued at $2,863,468.18. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Avidity Biosciences news, CEO Sarah Boyce sold 28,000 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $25.54, for a total value of $715,120.00. Following the sale, the chief executive officer now owns 112,117 shares in the company, valued at $2,863,468.18. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Michael F. Maclean sold 40,000 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $24.52, for a total transaction of $980,800.00. Following the completion of the sale, the chief financial officer now owns 44,093 shares in the company, valued at approximately $1,081,160.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 201,000 shares of company stock valued at $5,390,480. Insiders own 3.68% of the company’s stock.

Avidity Biosciences Trading Up 1.9 %

Shares of NASDAQ:RNA opened at $27.11 on Tuesday. Avidity Biosciences, Inc. has a 52-week low of $4.82 and a 52-week high of $30.84. The firm has a fifty day moving average of $26.15 and a 200 day moving average of $18.04.

Avidity Biosciences (NASDAQ:RNAGet Free Report) last posted its quarterly earnings results on Wednesday, May 15th. The biotechnology company reported ($0.79) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.81) by $0.02. The business had revenue of $3.54 million during the quarter, compared to analyst estimates of $7.09 million. Avidity Biosciences had a negative net margin of 2,103.78% and a negative return on equity of 37.98%. As a group, equities analysts anticipate that Avidity Biosciences, Inc. will post -3.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

RNA has been the topic of a number of analyst reports. Needham & Company LLC reissued a “buy” rating and set a $35.00 target price on shares of Avidity Biosciences in a report on Monday. Cantor Fitzgerald initiated coverage on shares of Avidity Biosciences in a research report on Thursday, March 14th. They set an “overweight” rating and a $60.00 price target for the company. Chardan Capital restated a “buy” rating and set a $33.00 price target on shares of Avidity Biosciences in a research report on Friday, May 10th. Finally, Bank of America initiated coverage on shares of Avidity Biosciences in a research report on Friday, May 3rd. They set a “buy” rating and a $40.00 price target for the company. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Avidity Biosciences presently has an average rating of “Buy” and a consensus price target of $41.33.

Get Our Latest Research Report on Avidity Biosciences

About Avidity Biosciences

(Free Report)

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.

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Want to see what other hedge funds are holding RNA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Avidity Biosciences, Inc. (NASDAQ:RNAFree Report).

Institutional Ownership by Quarter for Avidity Biosciences (NASDAQ:RNA)

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