California State Teachers Retirement System owns $1.83 million in Avidity Biosciences, Inc. (NASDAQ:RNA)

California State Teachers Retirement System raised its stake in Avidity Biosciences, Inc. (NASDAQ:RNA – Free Report) by 10.2% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 71,574 shares of the biotechnology company’s stock after buying an additional 6,618 shares during the period. California State Teachers Retirement System’s holdings in Avidity Biosciences were worth $1,827,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD boosted its holdings in shares of Avidity Biosciences by 7.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,429,107 shares of the biotechnology company’s stock worth $189,592,000 after buying an additional 516,446 shares in the last quarter. Avoro Capital Advisors LLC boosted its stake in Avidity Biosciences by 132.1% in the first quarter. Avoro Capital Advisors LLC now owns 5,825,000 shares of the biotechnology company’s stock worth $148,654,000 after buying an additional 3,315,000 shares in the last quarter. Vanguard Group Inc. raised its position in Avidity Biosciences by 1.2% during the third quarter. Vanguard Group Inc. now owns 4,014,490 shares of the biotechnology company’s stock worth $25,612,000 after purchasing an additional 47,305 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Avidity Biosciences by 4,661.3% in the first quarter. Janus Henderson Group PLC now owns 1,242,833 shares of the biotechnology company’s stock valued at $31,704,000 after purchasing an additional 1,216,730 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Avidity Biosciences by 6.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 545,771 shares of the biotechnology company’s stock worth $4,939,000 after acquiring an additional 30,674 shares during the period.

Indoor activity

In other Avidity Biosciences news, CFO Michael F. Maclean sold 75,000 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $28.28, for a total value of $2,121,000.00. Following the transaction, the chief financial officer now directly owns 44,093 shares of the company’s stock, valued at $1,246,950.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed via this link. In other Avidity Biosciences news, Director Arthur A. Levin sold 5,000 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $29.90, for a total value of $149,500.00. Following the transaction, the director now owns 14,830 shares of the company’s stock, valued at $443,417. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC’s website. Also, CFO Michael F. Maclean sold 75,000 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $28.28, for a total transaction of $2,121,000.00. Following the sale, the chief financial officer now owns 44,093 shares of the company’s stock, valued at approximately $1,246,950.04. The disclosure for this sale can be found here. Insiders have sold a total of 482,478 shares of company stock worth $17,491,990 over the last three months. Company insiders own 3.68% of the company’s shares.

Analysts set new price targets

A number of analysts have analyzed the shares. Evercore ISI boosted their target price on shares of Avidity Biosciences from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, June 12th. Bank of America boosted their price objective on Avidity Biosciences from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, June 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $35.00 target price on shares of Avidity Biosciences in a report on Monday, June 10th. Finally, Chardan Capital lifted their price target on Avidity Biosciences from $45.00 to $60.00 and gave the company a “buy” rating in a research note on Friday. Six investment analysts have rated the stock with a buy rating. The stock currently has a consensus rating of “Buy” and a consensus price target of $49.17, according to MarketBeat.

See our latest report on RNA

Avidity Biosciences trading up 12.1%

Shares of ARN stock opened at $46.95 on Friday. The stock has a 50-day moving average of $40.05 and a 200-day moving average of $28.05. The stock has a market cap of $4.49 billion, a price-to-earnings ratio of -15.92 and a beta of 0.90. Avidity Biosciences, Inc. has a 1 year low of $4.82 and a 1 year high of $48.80.

Avidity Biosciences (NASDAQ:RNA – Get Free Report ) last posted its quarterly earnings results on Wednesday, May 15th. The biotechnology company reported ($0.79) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.02. The firm had revenue of $3.54 million for the quarter, compared to analysts’ expectations of $7.09 million. Avidity Biosciences had a negative return on equity of 37.98% and a negative net margin of 2,103.78%. Sell-side analysts forecast that Avidity Biosciences, Inc. will post -3.15 earnings per share for the current year.

Avidity Biosciences Profile

(Free report)

Avidity Biosciences, Inc, a biopharmaceutical company, is engaged in the delivery of RNA therapeutics. She develops antibody oligonucleotide conjugates (AOCs) that are designed to treat diseases previously untreatable with RNA therapies. The company’s lead product candidate, AOC 1001, for the treatment of myotonic dystrophy type 1, a rare monogenic muscle disease, is in Phase 1/2 clinical trial.

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