Athos Capital Ltd Acquires Shares of 184,564 Avidity Biosciences, Inc. $RNA

Athos Capital Ltd acquired a new stake in Avidity Biosciences, Inc. (NASDAQ:RNA) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 184,564 shares of the biotechnology company’s stock, valued at approximately $13,313,000. Avidity Biosciences accounts for approximately 5.1% of Athos Capital Ltd’s investment portfolio, making the stock its 4th biggest position. Athos Capital Ltd owned 0.12% of Avidity Biosciences as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Allworth Financial LP grew its stake in Avidity Biosciences by 22.8% in the 3rd quarter. Allworth Financial LP now owns 856 shares of the biotechnology company’s stock valued at $37,000 after purchasing an additional 159 shares during the period. Fort Point Capital Partners LLC grew its stake in Avidity Biosciences by 0.6% in the 3rd quarter. Fort Point Capital Partners LLC now owns 31,278 shares of the biotechnology company’s stock valued at $1,363,000 after purchasing an additional 183 shares during the period. GF Fund Management CO. LTD. grew its stake in Avidity Biosciences by 7.0% in the 4th quarter. GF Fund Management CO. LTD. now owns 2,961 shares of the biotechnology company’s stock valued at $214,000 after purchasing an additional 193 shares during the period. GAMMA Investing LLC grew its stake in Avidity Biosciences by 10.5% in the 4th quarter. GAMMA Investing LLC now owns 2,471 shares of the biotechnology company’s stock valued at $178,000 after purchasing an additional 234 shares during the period. Finally, AlphaQuest LLC grew its stake in Avidity Biosciences by 123.0% in the 3rd quarter. AlphaQuest LLC now owns 600 shares of the biotechnology company’s stock valued at $26,000 after purchasing an additional 331 shares during the period.

Avidity Biosciences Stock Performance

Shares of RNA opened at $12.43 on Friday. The stock’s 50-day simple moving average is $13.11 and its 200 day simple moving average is $42.01. The stock has a market capitalization of $212.63 million, a price-to-earnings ratio of -2.50 and a beta of 0.93. Avidity Biosciences, Inc. has a 52-week low of $11.40 and a 52-week high of $16.77.

Avidity Biosciences (NASDAQ:RNA) last issued its quarterly earnings data on Thursday, May 14th. The biotechnology company reported ($0.97) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.05) by $0.08. The business had revenue of $19.64 million for the quarter, compared to analysts’ expectations of $2.00 million. Avidity Biosciences had a negative return on equity of 44.92% and a negative net margin of 3,650.39%. On average, research analysts forecast that Avidity Biosciences, Inc. will post -2.89 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

RNA has been the topic of a number of recent research reports. Leerink Partners initiated coverage on Avidity Biosciences in a research report on Friday, May 15th. They set an “outperform” rating on the stock. HC Wainwright reaffirmed a “neutral” rating on shares of Avidity Biosciences in a research report on Friday, May 1st. Weiss Ratings cut Avidity Biosciences from a “sell (d-)” rating to a “sell (e-)” rating in a research report on Friday, May 22nd. Wall Street Zen raised Avidity Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, May 30th. Finally, Wells Fargo & Company initiated coverage on Avidity Biosciences in a research report on Wednesday, March 11th. They set an “overweight” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $70.29.

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.