Avidity Biosciences, Inc. (NASDAQ:RNA) Shares Bought by Janus Henderson Group PLC

Janus Henderson Group PLC grew its stake in shares of Avidity Biosciences, Inc. (NASDAQ:RNA) by 33.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,896,166 shares of the biotechnology company’s stock after purchasing an additional 1,239,323 shares during the quarter. Janus Henderson Group PLC owned approximately 4.10% of Avidity Biosciences worth $224,774,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. FMR LLC lifted its position in Avidity Biosciences by 4.3% in the 3rd quarter. FMR LLC now owns 16,848,776 shares of the biotechnology company’s stock valued at $773,864,000 after purchasing an additional 689,729 shares during the last quarter. Avoro Capital Advisors LLC increased its stake in shares of Avidity Biosciences by 11.7% in the second quarter. Avoro Capital Advisors LLC now owns 6,505,000 shares of the biotechnology company’s stock valued at $265,729,000 after purchasing an additional 680,000 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Avidity Biosciences by 24.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 990,182 shares of the biotechnology company’s stock valued at $45,479,000 after buying an additional 197,065 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its position in shares of Avidity Biosciences by 2,263.7% during the second quarter. D. E. Shaw & Co. Inc. now owns 739,039 shares of the biotechnology company’s stock worth $30,190,000 after buying an additional 707,773 shares during the period. Finally, TD Asset Management Inc grew its holdings in Avidity Biosciences by 140.7% in the 2nd quarter. TD Asset Management Inc now owns 513,338 shares of the biotechnology company’s stock worth $20,970,000 after buying an additional 300,054 shares in the last quarter.

Insider Transactions at Avidity Biosciences

In related news, Director Arthur A. Levin sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $45.73, for a total value of $228,650.00. Following the completion of the transaction, the director now owns 14,830 shares of the company’s stock, valued at approximately $678,175.90. This trade represents a 25.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Teresa Mccarthy sold 13,153 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were 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 trade represents a 16.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 150,866 shares of company stock valued at $6,724,557 over the last three months. Company insiders own 3.68% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on RNA shares. Evercore ISI cut their target price on Avidity Biosciences from $54.00 to $53.00 and set an “outperform” rating on the stock in a research note on Monday, August 26th. Barclays started coverage on shares of Avidity Biosciences in a research note on Wednesday, August 28th. They set an “overweight” rating and a $63.00 price objective on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $96.00 price objective on shares of Avidity Biosciences in a report on Monday, September 16th. The Goldman Sachs Group began coverage on shares of Avidity Biosciences in a research note on Tuesday, September 24th. They set a “buy” rating and a $59.00 target price on the stock. Finally, Royal Bank of Canada began coverage on shares of Avidity Biosciences in a research note on Tuesday, November 26th. They issued an “outperform” rating and a $67.00 price target for the company. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $63.60.

Avidity Biosciences Price Performance

NASDAQ RNA opened at $38.48 on Wednesday. Avidity Biosciences, Inc. has a 12 month low of $6.79 and a 12 month high of $56.00. The company has a market capitalization of $4.59 billion, a P/E ratio of -13.36 and a beta of 0.89. The company’s 50 day simple moving average is $45.40 and its 200 day simple moving average is $41.67.

Avidity Biosciences (NASDAQ:RNA) last posted its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.65) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.79) by $0.14. Avidity Biosciences had a negative return on equity of 27.66% and a negative net margin of 2,772.45%. The company had revenue of $2.34 million for the quarter, compared to analysts’ expectations of $7.09 million. On average, analysts anticipate that Avidity Biosciences, Inc. will post -2.84 earnings per share for the current year.

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.