CIBRA Capital Ltd Buys Shares of 53,209 Avidity Biosciences, Inc. $RNA

CIBRA Capital Ltd purchased a new position in Avidity Biosciences, Inc. (NASDAQ:RNA) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 53,209 shares of the biotechnology company’s stock, valued at approximately $3,838,000. Avidity Biosciences accounts for 6.6% of CIBRA Capital Ltd’s holdings, making the stock its 9th largest position.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Avidity Biosciences by 42.9% in the third quarter. Vanguard Group Inc. now owns 13,219,759 shares of the biotechnology company’s stock worth $575,985,000 after acquiring an additional 3,971,457 shares during the last quarter. Bellevue Group AG acquired a new position in Avidity Biosciences during the 3rd quarter valued at $93,800,000. RA Capital Management L.P. raised its stake in Avidity Biosciences by 18.9% during the 3rd quarter. RA Capital Management L.P. now owns 8,641,031 shares of the biotechnology company’s stock valued at $376,490,000 after purchasing an additional 1,375,000 shares during the last quarter. Polar Capital Holdings Plc boosted its holdings in Avidity Biosciences by 58.0% in the 3rd quarter. Polar Capital Holdings Plc now owns 2,796,760 shares of the biotechnology company’s stock valued at $121,855,000 after purchasing an additional 1,026,373 shares during the period. Finally, Norges Bank bought a new stake in Avidity Biosciences in the 2nd quarter valued at $28,261,000.

Insider Activity at Avidity Biosciences

In related news, insider Steven George Hughes sold 4,895 shares of Avidity Biosciences stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $72.45, for a total transaction of $354,642.75. Following the completion of the transaction, the insider directly owned 31,599 shares of the company’s stock, valued at $2,289,347.55. This trade represents a 13.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Charles Calderaro III sold 3,727 shares of the business’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $72.23, for a total transaction of $269,201.21. Following the completion of the transaction, the insider owned 49,797 shares in the company, valued at approximately $3,596,837.31. This trade represents a 6.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 58,407 shares of company stock valued at $4,226,448. Insiders own 3.83% of the company’s stock.

Avidity Biosciences Trading Up 1.0%

Shares of Avidity Biosciences stock opened at $13.23 on Friday. The firm’s 50-day simple moving average is $48.12 and its 200-day simple moving average is $57.24. Avidity Biosciences, Inc. has a twelve month low of $11.95 and a twelve month high of $16.77.

Avidity Biosciences (NASDAQ:RNA) last released its quarterly earnings data on Monday, February 23rd. The biotechnology company reported ($1.59) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.24) by ($0.35). The company had revenue of $0.86 million for the quarter, compared to analyst estimates of $1.98 million. Avidity Biosciences had a negative net margin of 3,650.39% and a negative return on equity of 44.92%. On average, equities analysts forecast that Avidity Biosciences, Inc. will post -2.89 earnings per share for the current fiscal year.

Analyst Ratings Changes

RNA has been the subject of several research reports. Wells Fargo & Company initiated coverage on shares of Avidity Biosciences in a research note on Wednesday, March 11th. They issued an “overweight” rating for the company. Evercore set a $72.00 price target on Avidity Biosciences in a research note on Thursday, December 18th. Wall Street Zen raised Avidity Biosciences to a “hold” rating in a report on Saturday, March 21st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Avidity Biosciences in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Avidity Biosciences has an average rating of “Hold” and an average price target of $69.42.

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.