Insider Selling at Avidity Biosciences: A Look at Recent Transactions

Published December 19, 2024

Avidity Biosciences, Inc. (NASDAQ:RNA) recently experienced a notable insider sale. On December 16th, insider Teresa McCarthy sold 25,000 shares of the company's stock. This transaction was completed at an average price of $33.26 per share, amounting to a total value of $831,500.00. Following this sale, McCarthy now holds 94,018 shares in the company, which are valued at approximately $3,127,038.68. It's important to note that this sale represents a 21.01% decrease in her stock ownership.

The details of this transaction were filed with the SEC and are publicly accessible.

Avidity Biosciences Stock Updates:

  • Earlier on November 18th, McCarthy sold another 25,000 shares, this time at an average price of $41.14, totaling $1,028,500.00.
  • On October 16th, she sold 25,000 shares at an average price of $48.52, resulting in a total transaction of $1,213,000.00.
  • On September 23rd, McCarthy sold 13,153 shares, averaging $44.00 per share for a total of $578,732.00.

Avidity Biosciences Stock Performance

As of the latest trading session, Avidity Biosciences' stock (NASDAQ: RNA) has seen a decline of 6.2%, trading down $2.04 to reach $30.70. The trading volume was about 1,861,433 shares, surpassing the average volume of 1,307,631 shares. Currently, Avidity's stock has a 50-day moving average price of $43.24 and a 200-day average price of $42.27. Over the past year, the stock has fluctuated between a low of $8.37 and a high of $56.00, and the company maintains a market capitalization of $3.66 billion with a price-to-earnings ratio of -10.66.

In its latest earnings report on November 7th, Avidity disclosed earnings per share of ($0.65), which was better than the expected ($0.79), beating consensus estimates by $0.14. However, the company reported a negative return on equity of 27.66% and an extremely high negative net margin of 2,772.45%. Revenues for the quarter amounted to $2.34 million, falling short of the anticipated $7.09 million. Analysts forecast an EPS of -2.89 for the current fiscal year.

Analyst Ratings Overview

Multiple analysts have weighed in on Avidity Biosciences' stock. The Goldman Sachs Group issued a