The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Avidity Biosciences Inc shares valued at $578,737 were sold by McCarthy Teresa on Sep 23 ’24. At $44.00 per share, McCarthy Teresa sold 13,153 shares. The insider’s holdings dropped to 69,018 shares worth approximately $2.91 million following the completion of this transaction.
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Also, Flanagan W. Michael sold 25,000 shares, netting a total of over 1,098,733 in proceeds. Following the sale of shares at $43.95 each, the insider now holds 72,718 shares.
Before that, Boyce Sarah had sold 32,880 shares from its account. In a trade valued at $1,446,723, the President and CEO traded Avidity Biosciences Inc shares for $44.00 each. Upon closing the transaction, the insider’s holdings decreased to 32,880 shares, worth approximately $9.9 million.
As published in their initiating research note from Goldman on September 24, 2024, Avidity Biosciences Inc [RNA] has been a Buy and the price target has been revised to $59. Analysts at Barclays started covering the stock with ‘”an Overweight”‘ outlook in a report released in late August. As of May 03, 2024, BofA Securities has initiated its “Buy” rating for RNA. Earlier on March 14, 2024, Cantor Fitzgerald initiated its rating. Their recommendation was “an Overweight” for RNA stock.
Analyzing RNA Stock Performance
During the last five days, there has been a drop of approximately -7.62%. Over the course of the year, Avidity Biosciences Inc shares have jumped approximately 365.97%. 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 $43.69, while a 200-day SMA reached $27.87. Nevertheless, trading volume fell to 2.17 million shares from 2.62 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 39.81, which, if violated, would cause prices to drop to 37.44. In the upper region, resistance lies at 45.74. The next price resistance is at 49.30. RSI (Relative Strength Index) is 47.02 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.22, which suggests the price will increase in the coming days. Percent R is at 66.39%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
