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 $2,976,112 were sold by Flanagan W. Michael on Oct 01 ’24. At $47.62 per share, Flanagan W. Michael sold 62,500 shares. The insider’s holdings dropped to 85,389 shares worth approximately $4.02 million following the completion of this transaction.
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Also, WILLIAM MICHAEL FLANAGAN purchased 38,018 shares, netting a total of over 1,746,167 in proceeds.
Before that, McCarthy Teresa had sold 13,153 shares from its account. In a trade valued at $578,737, the Chief Human Resources Officer traded Avidity Biosciences Inc shares for $44.00 each. Upon closing the transaction, the insider’s holdings decreased to 13,153 shares, worth approximately $3.25 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 surge of approximately 11.57%. Over the course of the year, Avidity Biosciences Inc shares have jumped approximately 419.89%. Shares of the company reached a 52-week high of $49.41 on 10/02/24 and a 52-week low of $8.86 on 01/02/24. A 50-day SMA is recorded $43.78, while a 200-day SMA reached $28.83. Nevertheless, trading volume fell to 1.25 million shares from 1.28 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 45.97, which, if violated, would cause prices to drop to 44.90. In the upper region, resistance lies at 48.42. The next price resistance is at 49.80. RSI (Relative Strength Index) is 58.70 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.90, which suggests the price will increase in the coming days. Percent R is at 28.10%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
