Aaron Wealth Advisors LLC Has $236,000 Stock Holdings in Avidity Biosciences, Inc. (NASDAQ:RNA)

Aaron Wealth Advisors LLC grew its position in Avidity Biosciences, Inc. (NASDAQ:RNA) by 6.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,102 shares of the biotechnology company’s stock after purchasing an additional 504 shares during the quarter. Aaron Wealth Advisors LLC’s holdings in Avidity Biosciences were worth $236,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. PEAK6 Investments LLC lifted its position in Avidity Biosciences by 4.9% during the 3rd quarter. PEAK6 Investments LLC now owns 7,343 shares of the biotechnology company’s stock worth $337,000 after acquiring an additional 343 shares during the last quarter. National Bank of Canada FI acquired a new position in shares of Avidity Biosciences during the 3rd quarter worth about $27,000. Allspring Global Investments Holdings LLC bought a new stake in Avidity Biosciences during the 3rd quarter valued at approximately $30,000. Values First Advisors Inc. acquired a new stake in Avidity Biosciences in the 3rd quarter valued at approximately $32,000. Finally, Amalgamated Bank increased its position in Avidity Biosciences by 39.0% in the 2nd quarter. Amalgamated Bank now owns 3,497 shares of the biotechnology company’s stock worth $143,000 after buying an additional 982 shares during the period.

Insider Activity

In related news, Director Arthur A. Levin sold 3,323 shares of Avidity Biosciences stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $42.12, for a total value of $139,964.76. Following the completion of the transaction, the director now directly owns 14,830 shares of the company’s stock, valued at $624,639.60. The trade was a 18.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider W. Michael Flanagan sold 24,000 shares of the stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $35.77, for a total transaction of $858,480.00. Following the sale, the insider now directly owns 85,389 shares in the company, valued at approximately $3,054,364.53. This represents a 21.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 133,071 shares of company stock worth $4,679,174. Insiders own 3.68% of the company’s stock.

Avidity Biosciences Price Performance

Shares of NASDAQ:RNA opened at $30.84 on Wednesday. The stock has a market capitalization of $3.68 billion, a price-to-earnings ratio of -10.71 and a beta of 0.99. The business’s fifty day moving average price is $35.22 and its two-hundred day moving average price is $41.25. Avidity Biosciences, Inc. has a fifty-two week low of $9.93 and a fifty-two week high of $56.00.

Avidity Biosciences (NASDAQ:RNA) last announced its earnings results on Thursday, November 7th. The biotechnology company reported ($0.65) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.14. The business had revenue of $2.34 million during the quarter, compared to analysts’ expectations of $7.09 million. Avidity Biosciences had a negative net margin of 2,772.45% and a negative return on equity of 27.66%. Research analysts expect that Avidity Biosciences, Inc. will post -2.89 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $67.00 price objective on shares of Avidity Biosciences in a research note on Tuesday. TD Cowen upped their price objective on shares of Avidity Biosciences from $56.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Chardan Capital reissued a “buy” rating and set a $65.00 target price on shares of Avidity Biosciences in a research report on Wednesday, November 13th. The Goldman Sachs Group initiated coverage on Avidity Biosciences in a report on Tuesday, September 24th. They issued a “buy” rating and a $59.00 price target for the company. Finally, Needham & Company LLC reissued a “buy” rating and set a $60.00 price objective on shares of Avidity Biosciences in a report on Wednesday, November 13th. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $65.80.

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.