Privium Fund Management B.V. Grows Stock Holdings in Avidity Biosciences, Inc. (NASDAQ:RNA)

Privium Fund Management B.V. grew its position in Avidity Biosciences, Inc. (NASDAQ:RNA) by 24.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 31,900 shares of the biotechnology company’s stock after buying an additional 6,300 shares during the period. Privium Fund Management B.V.’s holdings in Avidity Biosciences were worth $928,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. boosted its stake in Avidity Biosciences by 52.1% in the third quarter. Victory Capital Management Inc. now owns 33,184 shares of the biotechnology company’s stock valued at $1,524,000 after acquiring an additional 11,367 shares in the last quarter. Quest Partners LLC lifted its holdings in shares of Avidity Biosciences by 217.8% during the 3rd quarter. Quest Partners LLC now owns 2,031 shares of the biotechnology company’s stock valued at $93,000 after purchasing an additional 1,392 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in Avidity Biosciences by 3,836.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 217,025 shares of the biotechnology company’s stock worth $9,968,000 after buying an additional 211,512 shares during the last quarter. Intech Investment Management LLC acquired a new position in Avidity Biosciences during the 3rd quarter valued at about $1,701,000. Finally, Landscape Capital Management L.L.C. purchased a new stake in Avidity Biosciences in the third quarter valued at about $265,000.

Insider Transactions at Avidity Biosciences

In other news, Director Arthur A. Levin sold 1,872 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $28.60, for a total transaction of $53,539.20. Following the sale, the director now directly owns 12,958 shares in the company, valued at $370,598.80. This trade represents a 12.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kathleen P. Gallagher sold 5,875 shares of Avidity Biosciences stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $32.16, for a total value of $188,940.00. Following the completion of the transaction, the insider now owns 50,554 shares of the company’s stock, valued at approximately $1,625,816.64. This represents a 10.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,390 shares of company stock valued at $718,303 in the last 90 days. 3.68% of the stock is currently owned by company insiders.

Analyst Ratings Changes

RNA has been the topic of several recent analyst reports. Chardan Capital restated a “buy” rating and set a $65.00 price objective on shares of Avidity Biosciences in a report on Monday. Scotiabank began coverage on shares of Avidity Biosciences in a research note on Friday, March 7th. They set a “sector outperform” rating and a $70.00 price target on the stock. HC Wainwright reissued a “buy” rating and set a $72.00 price objective on shares of Avidity Biosciences in a report on Monday. BMO Capital Markets assumed coverage on Avidity Biosciences in a research report on Wednesday, March 12th. They issued an “outperform” rating and a $72.00 target price on the stock. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $67.00 price target on shares of Avidity Biosciences in a research note on Tuesday, January 21st. Thirteen analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Avidity Biosciences presently has an average rating of “Buy” and a consensus target price of $66.69.

Avidity Biosciences Stock Performance

NASDAQ RNA opened at $30.48 on Wednesday. The firm has a market capitalization of $3.66 billion, a P/E ratio of -10.58 and a beta of 1.02. The stock has a 50-day simple moving average of $31.03 and a two-hundred day simple moving average of $37.67. Avidity Biosciences, Inc. has a fifty-two week low of $21.56 and a fifty-two week high of $56.00.

Avidity Biosciences (NASDAQ:RNA) last posted its 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 return on equity of 27.66% and a negative net margin of 2,772.45%. The company had revenue of $2.97 million for the quarter, compared to analyst estimates of $1.74 million. As a group, analysts forecast that Avidity Biosciences, Inc. will post -2.89 earnings per share for the current year.

About Avidity Biosciences

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.