Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Avidity Biosciences Inc shares valued at $542,214 were sold by LEVIN ARTHUR A on Apr 03 ’24. At $27.11 per share, LEVIN ARTHUR A sold 20,000 shares. The insider’s holdings dropped to 253,872 shares worth approximately $6.01 million following the completion of this transaction.
Also, Boyce Sarah sold 28,000 shares, netting a total of over 734,919 in proceeds. Following the sale of shares at $26.25 each, the insider now holds 112,117 shares.
Before that, LEVIN ARTHUR A had sold 5,000 shares from its account. In a trade valued at $119,848, the Director traded Avidity Biosciences Inc shares for $23.97 each. Upon closing the transaction, the insider’s holdings decreased to 5,000 shares, worth approximately $0.35 million.
As published in their initiating research note from Cantor Fitzgerald on March 14, 2024, Avidity Biosciences Inc [RNA] has been an Overweight and the price target has been revised to $60. Analysts at Evercore ISI upgraded the stock from ‘”an In-line”‘ to ‘”an Outperform”‘ outlook in a report released in late May. As of March 31, 2023, Evercore ISI has decreased its “an Outperform” rating to a “an In-line” for RNA. Earlier on July 20, 2022, Chardan Capital Markets initiated its rating. Their recommendation was “a Buy” for RNA stock.
Analyzing RNA Stock Performance
During the last five days, there has been a drop of approximately -3.97%. Over the course of the year, Avidity Biosciences Inc shares have jumped approximately 161.77%. Shares of the company reached a 52-week high of $27.66 on 04/03/24 and a 52-week low of $8.86 on 01/02/24. A 50-day SMA is recorded $18.03, while a 200-day SMA reached $10.63. Nevertheless, trading volume fell to 2.59 million shares from 1.31 million shares the previous day.
Support And Resistance Levels for Avidity Biosciences Inc (RNA)
According to the 24-hour chart, there is a support level at 21.11, which, if violated, would cause prices to drop to 18.53. In the upper region, resistance lies at 26.72. The next price resistance is at 29.75. RSI (Relative Strength Index) is 56.43 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.08, which suggests the price will increase in the coming days. Percent R is at 65.08%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Avidity Biosciences Inc subject to short interest?
Stocks of Avidity Biosciences Inc saw a sharp rise in short interest on Mar 15, 2024 jumping by 0.89 million shares to 8.62 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 7.73 million shares. A jump of 10.32% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 5.79 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.79.
