Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Avidity Biosciences Inc shares valued at $149,481 were sold by LEVIN ARTHUR A on May 20 ’24. At $29.90 per share, LEVIN ARTHUR A sold 5,000 shares. The insider’s holdings dropped to 14,830 shares worth approximately $0.41 million following the completion of this transaction.
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Also, MacLean Michael F sold 75,000 shares, netting a total of over 2,121,045 in proceeds. Following the sale of shares at $28.28 each, the insider now holds 44,093 shares.
Before that, Boyce Sarah had sold 28,000 shares from its account. In a trade valued at $715,050, the President and CEO traded Avidity Biosciences Inc shares for $25.54 each. Upon closing the transaction, the insider’s holdings decreased to 28,000 shares, worth approximately $3.08 million.
As published in their initiating research note from BofA Securities on May 03, 2024, Avidity Biosciences Inc [RNA] has been a Buy and the price target has been revised to $40. Analysts at Cantor Fitzgerald started covering the stock with ‘”an Overweight”‘ outlook in a report released in mid March. As of May 22, 2023, Evercore ISI has increased its “an In-line” rating to a “an Outperform” for RNA. Earlier on March 31, 2023, Evercore ISI downgraded its rating. Their new recommendation was “an In-line” for RNA stock which previously was a “an Outperform”.
Analyzing RNA Stock Performance
During the last five days, there has been a drop of approximately -4.35%. Over the course of the year, Avidity Biosciences Inc shares have jumped approximately 203.54%. Shares of the company reached a 52-week high of $30.84 on 05/22/24 and a 52-week low of $8.86 on 01/02/24. A 50-day SMA is recorded $25.50, while a 200-day SMA reached $13.33. Nevertheless, trading volume fell to 1.4 million shares from 0.72 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 26.57, which, if violated, would cause prices to drop to 25.66. In the upper region, resistance lies at 29.19. The next price resistance is at 30.90. RSI (Relative Strength Index) is 53.45 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.06, which suggests the price will increase in the coming days. Percent R is at 57.26%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
