EntryPoint Capital LLC Has $110,000 Stock Holdings in Avidity Biosciences, Inc. (NASDAQ:RNA)

EntryPoint Capital LLC reduced its position in shares of Avidity Biosciences, Inc. (NASDAQ:RNA) by 62.1% in the 1st quarter, HoldingsChannel reports. The firm owned 4,328 shares of the biotechnology company’s stock after selling 7,086 shares during the period. EntryPoint Capital LLC’s holdings in Avidity Biosciences were worth $110,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Wellington Management Group LLP lifted its stake in shares of Avidity Biosciences by 5.5% during the third quarter. Wellington Management Group LLP now owns 248,071 shares of the biotechnology company’s stock valued at $1,583,000 after acquiring an additional 12,835 shares during the period. Vanguard Group Inc. boosted its stake in shares of Avidity Biosciences by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 4,014,490 shares of the biotechnology company’s stock valued at $25,612,000 after purchasing an additional 47,305 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Avidity Biosciences during the 4th quarter worth approximately $377,000. Raymond James & Associates grew its position in shares of Avidity Biosciences by 39.3% during the 4th quarter. Raymond James & Associates now owns 129,921 shares of the biotechnology company’s stock worth $1,176,000 after buying an additional 36,666 shares during the period. Finally, Raymond James Financial Services Advisors Inc. raised its stake in shares of Avidity Biosciences by 149.1% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 86,611 shares of the biotechnology company’s stock worth $784,000 after buying an additional 51,839 shares during the last quarter.

Avidity Biosciences Stock Up 7.6 %

NASDAQ:RNA opened at $48.14 on Friday. Avidity Biosciences, Inc. has a twelve month low of $4.82 and a twelve month high of $48.29. The business has a 50 day moving average price of $36.82 and a two-hundred day moving average price of $25.64.

Avidity Biosciences (NASDAQ:RNA) last announced its quarterly earnings data on Wednesday, May 15th. The biotechnology company reported ($0.79) earnings per share for the quarter, beating the consensus estimate of ($0.81) by $0.02. Avidity Biosciences had a negative return on equity of 37.98% and a negative net margin of 2,103.78%. The company had revenue of $3.54 million during the quarter, compared to analysts’ expectations of $7.09 million. On average, research analysts expect that Avidity Biosciences, Inc. will post -3.15 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on RNA shares. Needham & Company LLC reaffirmed a “buy” rating and set a $35.00 target price on shares of Avidity Biosciences in a report on Monday, June 10th. Bank of America upped their price objective on Avidity Biosciences from $40.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, June 13th. Evercore ISI boosted their target price on Avidity Biosciences from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 12th. Finally, Chardan Capital boosted their price objective on shares of Avidity Biosciences from $33.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, June 12th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $44.29.

Insider Activity

In other Avidity Biosciences news, CEO Sarah Boyce sold 164,233 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $40.08, for a total transaction of $6,582,458.64. Following the sale, the chief executive officer now directly owns 112,117 shares of the company’s stock, valued at $4,493,649.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Avidity Biosciences news, CEO Sarah Boyce sold 164,233 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $40.08, for a total value of $6,582,458.64. Following the sale, the chief executive officer now owns 112,117 shares in the company, valued at $4,493,649.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Michael F. Maclean sold 75,000 shares of Avidity Biosciences stock in a transaction that occurred on Tuesday, May 14th. The stock was 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 owns 44,093 shares of the company’s stock, valued at $1,246,950.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 482,478 shares of company stock valued at $16,993,310. 3.68% of the stock is owned by insiders.

About Avidity Biosciences

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.