KLP Kapitalforvaltning AS Takes $521,000 Position in Avidity Biosciences, Inc. (NASDAQ:RNA)

KLP Kapitalforvaltning AS acquired a new stake in shares of Avidity Biosciences, Inc. ( NASDAQ:RNA – Free Report ) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,900 shares of the biotechnology company’s stock, valued at approximately $521,000.

A number of other hedge funds have also added to or reduced their stakes in RNA. Wellington Management Group LLP grew its position in shares of Avidity Biosciences by 84.9% during the 3rd quarter.



Wellington Management Group LLP now owns 7,030,949 shares of the biotechnology company’s stock valued at $322,931,000 after acquiring an additional 3,228,923 shares during the period. State Street Corp grew its holdings in Avidity Biosciences by 41.7% during the third quarter.

State Street Corp now owns 4,706,106 shares of the biotechnology company’s stock valued at $216,151,000 after purchasing an additional 1,386,087 shares during the period. RA Capital Management L.P.

increased its position in Avidity Biosciences by 16.7% in the third quarter. RA Capital Management L.

P. now owns 6,300,408 shares of the biotechnology company’s stock worth $289,378,000 after buying an additional 900,000 shares in the last quarter. Geode Capital Management LLC increased its position in Avidity Biosciences by 14.

6% in the third quarter. Geode Capital Management LLC now owns 2,585,303 shares of the biotechnology company’s stock worth $118,767,000 after buying an additional 328,606 shares in the last quarter. Finally, Raymond James Financial Inc.

purchased a new stake in Avidity Biosciences in the 4th quarter worth approximately $5,784,000. Wall Street Analyst Weigh In A number of equities analysts have weighed in on RNA shares. Scotiabank began coverage on shares of Avidity Biosciences in a research report on Friday, March 7th.

They issued a “sector outperform” rating and a $70.00 price target for the company. BMO Capital Markets initiated coverage on Avidity Biosciences in a research note on Wednesday, March 12th.

They issued an “outperform” rating and a $72.00 price target for the company. HC Wainwright restated a “buy” rating and issued a $72.

00 price objective on shares of Avidity Biosciences in a research report on Monday, March 17th. Royal Bank of Canada reissued an “outperform” rating and issued a $67.00 price target on shares of Avidity Biosciences in a report on Tuesday, January 21st.

Finally, Chardan Capital reiterated a “buy” rating and set a $65.00 price objective on shares of Avidity Biosciences in a research report on Monday, March 17th. Thirteen analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $66.

69. Avidity Biosciences Price Performance RNA stock opened at $28.10 on Friday.

Avidity Biosciences, Inc. has a 12 month low of $21.56 and a 12 month high of $56.

00. The firm’s 50-day moving average is $31.41 and its 200 day moving average is $36.

84. The company has a market capitalization of $3.38 billion, a PE ratio of -9.

76 and a beta of 1.02. Avidity Biosciences ( NASDAQ:RNA – Get Free Report ) last issued its earnings results on Thursday, February 27th.

The biotechnology company reported ($0.80) EPS for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.

04). The company had revenue of $2.97 million for the quarter, compared to analysts’ expectations of $1.

74 million. Avidity Biosciences had a negative return on equity of 27.66% and a negative net margin of 2,772.

45%. Sell-side analysts forecast that Avidity Biosciences, Inc. will post -2.

89 EPS for the current fiscal year. Insiders Place Their Bets In other news, insider Kathleen P. Gallagher sold 5,875 shares of the business’s stock in a transaction on Tuesday, April 1st.

The stock was sold at an average price of $27.83, for a total value of $163,501.25.

Following the completion of the transaction, the insider now directly owns 50,554 shares of the company’s stock, valued at approximately $1,406,917.82. The trade was a 10.

41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link . Also, CFO Michael F.

Maclean sold 3,287 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $28.59, for a total value of $93,975.

33. Following the sale, the chief financial officer now directly owns 104,655 shares in the company, valued at approximately $2,992,086.45.

The trade was a 3.05 % decrease in their position. The disclosure for this sale can be found here .

Insiders have sold a total of 79,318 shares of company stock worth $2,405,390 in the last three months. Corporate insiders own 3.68% of the company’s stock.

Avidity Biosciences Profile ( Free Report ) 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.

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