Axxcess Wealth Management LLC Purchases Shares of 6,165 Avidity Biosciences, Inc. (NASDAQ:RNA)

Axxcess Wealth Management LLC purchased a new stake in Avidity Biosciences, Inc. (NASDAQ:RNA) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 6,165 shares of the biotechnology company’s stock, valued at approximately $283,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Privium Fund Management B.V. lifted its position in shares of Avidity Biosciences by 15.1% during the 3rd quarter. Privium Fund Management B.V. now owns 25,600 shares of the biotechnology company’s stock worth $1,176,000 after purchasing an additional 3,358 shares during the last quarter. Assetmark Inc. purchased a new stake in shares of Avidity Biosciences during the 3rd quarter worth $566,000. Fiera Capital Corp purchased a new stake in shares of Avidity Biosciences during the 3rd quarter worth $19,805,000. China Universal Asset Management Co. Ltd. lifted its position in shares of Avidity Biosciences by 100.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 22,526 shares of the biotechnology company’s stock worth $1,035,000 after purchasing an additional 11,291 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Avidity Biosciences by 48.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,236 shares of the biotechnology company’s stock worth $179,000 after purchasing an additional 1,381 shares during the last quarter.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Chardan Capital reaffirmed a “buy” rating and set a $65.00 price objective on shares of Avidity Biosciences in a research report on Wednesday. Needham & Company LLC reiterated a “buy” rating and set a $60.00 price target on shares of Avidity Biosciences in a research note on Wednesday. Barclays assumed coverage on shares of Avidity Biosciences in a research note on Wednesday, August 28th. They set an “overweight” rating and a $63.00 price target on the stock. The Goldman Sachs Group assumed coverage on shares of Avidity Biosciences in a research note on Tuesday, September 24th. They set a “buy” rating and a $59.00 price target on the stock. Finally, TD Cowen lifted their price target on shares of Avidity Biosciences from $56.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $63.22.

Insider Transactions at Avidity Biosciences

In related news, Director Arthur A. Levin sold 5,000 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $45.19, for a total transaction of $225,950.00. Following the sale, the director now owns 14,830 shares of the company’s stock, valued at approximately $670,167.70. The trade was a 25.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Teresa Mccarthy sold 13,153 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $44.00, for a total transaction of $578,732.00. Following the sale, the insider now directly owns 69,018 shares in the company, valued at approximately $3,036,792. This represents a 16.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 127,543 shares of company stock worth $5,782,042 over the last ninety days. 3.68% of the stock is currently owned by company insiders.

Avidity Biosciences Stock Performance

NASDAQ RNA opened at $49.97 on Friday. Avidity Biosciences, Inc. has a one year low of $5.68 and a one year high of $56.00. The firm’s fifty day moving average is $45.04 and its two-hundred day moving average is $40.01. The firm has a market cap of $5.96 billion, a PE ratio of -17.35 and a beta of 0.91.

Avidity Biosciences (NASDAQ:RNA) last issued its quarterly 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. Avidity Biosciences had a negative net margin of 2,772.45% and a negative return on equity of 27.66%. The business had revenue of $2.34 million for the quarter, compared to analyst estimates of $7.09 million. Research analysts predict that Avidity Biosciences, Inc. will post -2.91 earnings per share for the current year.

Avidity Biosciences Profile

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.