Avidity Biosciences, Inc. (NASDAQ:RNA) Receives Average Recommendation of “Hold” from Analysts

Avidity Biosciences, Inc. (NASDAQ:RNA) has been given a consensus rating of “Hold” by the twenty-three ratings firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and eight have given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $69.5714.

RNA has been the subject of a number of analyst reports. HC Wainwright lowered shares of Avidity Biosciences from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $87.00 to $72.00 in a report on Monday, October 27th. TD Cowen cut Avidity Biosciences from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $78.00 to $74.00 in a research note on Wednesday, October 29th. Citigroup downgraded Avidity Biosciences from a “buy” rating to a “hold” rating in a report on Monday, October 27th. Evercore ISI set a $72.00 target price on Avidity Biosciences in a report on Thursday, December 18th. Finally, Bank of America upped their price target on Avidity Biosciences from $56.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, September 15th.

Avidity Biosciences Stock Performance

Avidity Biosciences stock opened at $72.37 on Monday. The company has a market cap of $10.90 billion, a PE ratio of -17.31 and a beta of 0.95. Avidity Biosciences has a 1 year low of $21.51 and a 1 year high of $72.61. The company’s 50-day moving average is $71.41 and its two-hundred day moving average is $53.05.

Avidity Biosciences (NASDAQ:RNA) last posted its quarterly earnings results on Monday, November 10th. The biotechnology company reported ($1.27) earnings per share 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 business had revenue of $12.48 million for the quarter, compared to the consensus estimate of $1.80 million. Avidity Biosciences’s revenue for the quarter was up 420.8% compared to the same quarter last year. Research analysts forecast that Avidity Biosciences will post -2.89 EPS for the current year.

Avidity Biosciences News Roundup

Here are the key news stories impacting Avidity Biosciences this week:

• Neutral Sentiment: W. Michael Flanagan sold 2,373 shares (~$171.4k), reducing his stake ~2.52%. SEC filing – Flanagan sale
• Neutral Sentiment: Michael F. Maclean (CFO) sold 1,974 shares (~$142.6k), a ~3.00% decrease in his ownership. SEC filing – Maclean sale
• Neutral Sentiment: Teresa McCarthy sold 1,965 shares (~$141.9k), reducing her stake ~1.65%. SEC filing – McCarthy sale
• Negative Sentiment: Steven George Hughes sold 2,373 shares (~$171.4k), a ~6.11% reduction in his position — larger proportional sale that may draw investor scrutiny. SEC filing – Hughes sale
• Negative Sentiment: John B. Moriarty sold 2,374 shares (~$171.5k), a ~3.09% drop in his holdings. SEC filing – Moriarty sale
• Negative Sentiment: Charles Calderaro III sold 3,727 shares (~$269.2k), a ~6.96% reduction — one of the larger proportional sales among insiders. SEC filing – Calderaro sale
• Negative Sentiment: CEO Sarah Boyce sold 8,576 shares (~$619.4k), reducing her stake ~2.94%; CEO sales tend to attract investor attention despite modest percentage change. SEC filing – Boyce sale

Insider Transactions at Avidity Biosciences

In other news, insider Steven George Hughes sold 2,373 shares of the business’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $72.23, for a total value of $171,401.79. Following the completion of the transaction, the insider owned 36,494 shares of the company’s stock, valued at $2,635,961.62. The trade was a 6.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider W. Michael Flanagan sold 2,373 shares of the firm’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $72.23, for a total value of $171,401.79. Following the sale, the insider directly owned 91,627 shares in the company, valued at $6,618,218.21. The trade was a 2.52% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 45,571 shares of company stock valued at $2,795,453. Corporate insiders own 3.83% of the company’s stock.

Institutional Investors Weigh In On Avidity Biosciences

Several large investors have recently modified their holdings of RNA. Mirae Asset Global Investments Co. Ltd. increased its stake in Avidity Biosciences by 4.8% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,316 shares of the biotechnology company’s stock worth $463,000 after purchasing an additional 746 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Avidity Biosciences by 7.1% in the first quarter. Rhumbline Advisers now owns 164,776 shares of the biotechnology company’s stock valued at $4,864,000 after buying an additional 10,973 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Avidity Biosciences by 157.0% during the third quarter. Assenagon Asset Management S.A. now owns 45,923 shares of the biotechnology company’s stock worth $2,001,000 after acquiring an additional 28,055 shares in the last quarter. Mirador Capital Partners LP raised its holdings in shares of Avidity Biosciences by 46.8% during the second quarter. Mirador Capital Partners LP now owns 41,389 shares of the biotechnology company’s stock worth $1,175,000 after acquiring an additional 13,189 shares during the period. Finally, Norges Bank bought a new stake in Avidity Biosciences in the 2nd quarter valued at $28,261,000.

About Avidity Biosciences

Avidity Biosciences is a clinical-stage biotechnology company dedicated to developing antibody-oligonucleotide conjugate (AOC) therapies designed to address serious neuromuscular and cardiac diseases. The company’s proprietary AOC platform combines the targeting specificity of monoclonal antibodies with the gene-modulating power of oligonucleotides to deliver therapeutic agents directly into muscle cells. Headquartered in La Jolla, California, Avidity seeks to overcome traditional delivery challenges associated with RNA-based medicines by leveraging receptor-mediated uptake mechanisms.

The company’s lead product candidate, AOC 1001, is in clinical development for myotonic dystrophy type 1 (DM1) and represents the first application of the AOC platform in a human study.