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 $4,500,244 were sold by Flanagan W. Michael on Sep 11 ’24. At $40.40 per share, Flanagan W. Michael sold 111,394 shares. The insider’s holdings dropped to 60,871 shares worth approximately $2.72 million following the completion of this transaction.
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Also, McCarthy Teresa sold 25,000 shares, netting a total of over 1,010,042 in proceeds. Following the sale of shares at $40.40 each, the insider now holds 57,171 shares.
Before that, WILLIAM MICHAEL FLANAGAN had added 111,394 shares to its account. In a trade valued at $4,543,761, the Officer bought Avidity Biosciences Inc shares for $40.79 each.
As published in their initiating research note from Barclays on August 28, 2024, Avidity Biosciences Inc [RNA] has been an Overweight and the price target has been revised to $63. Analysts at BofA Securities started covering the stock with ‘”a Buy”‘ outlook in a report released in early May. As of March 14, 2024, Cantor Fitzgerald has initiated its “an Overweight” rating for RNA. Earlier on May 22, 2023, Evercore ISI upgraded its rating. Their new recommendation was “an Outperform” for RNA stock which previously was a “an In-line”.
Analyzing RNA Stock Performance
During the last five days, there has been a surge of approximately 10.09%. Over the course of the year, Avidity Biosciences Inc shares have jumped approximately 393.15%. Shares of the company reached a 52-week high of $48.80 on 07/29/24 and a 52-week low of $8.86 on 01/02/24. A 50-day SMA is recorded $43.76, while a 200-day SMA reached $26.77. Nevertheless, trading volume fell to 4.72 million shares from 0.99 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 42.80, which, if violated, would cause prices to drop to 40.96. In the upper region, resistance lies at 45.86. The next price resistance is at 47.08. RSI (Relative Strength Index) is 58.75 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.13, which suggests the price will increase in the coming days. Percent R is at 10.51%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
