Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Avidity Biosciences Inc shares valued at $1,028,520 were sold by McCarthy Teresa on Nov 18 ’24. At $41.14 per share, McCarthy Teresa sold 25,000 shares. The insider’s holdings dropped to 94,018 shares worth approximately $4.07 million following the completion of this transaction.
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Also, LEVIN ARTHUR A sold 3,323 shares, netting a total of over 139,973 in proceeds. Following the sale of shares at $42.12 each, the insider now holds 14,830 shares.
Before that, MacLean Michael F had sold 106,319 shares from its account. In a trade valued at $4,843,979, the Chief Financial Officer traded Avidity Biosciences Inc shares for $45.56 each. Upon closing the transaction, the insider’s holdings decreased to 106,319 shares, worth approximately $4.08 million.
As published in their initiating research note from RBC Capital Mkts on November 26, 2024, Avidity Biosciences Inc [RNA] has been an Outperform and the price target has been revised to $67. Analysts at Goldman started covering the stock with ‘”a Buy”‘ outlook in a report released in late September. As of August 28, 2024, Barclays has initiated its “an Overweight” rating for RNA. Earlier on May 03, 2024, BofA Securities 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 -0.73%. Over the course of the year, Avidity Biosciences Inc shares have jumped approximately 378.78%. Shares of the company reached a 52-week high of $56.00 on 11/13/24 and a 52-week low of $8.86 on 01/02/24. A 50-day SMA is recorded $45.52, while a 200-day SMA reached $35.61. Nevertheless, trading volume fell to 0.72 million shares from 1.22 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 42.47, which, if violated, would cause prices to drop to 41.61. In the upper region, resistance lies at 44.35. The next price resistance is at 45.38. RSI (Relative Strength Index) is 46.10 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.02, which suggests the price will decrease in the coming days. Percent R is at 76.79%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
