Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Avidity Biosciences Inc shares valued at $416,154 were sold by Flanagan W. Michael on Dec 18 ’24. At $32.66 per share, Flanagan W. Michael sold 12,742 shares. The insider’s holdings dropped to 72,647 shares worth approximately $2.27 million following the completion of this transaction.
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Also, MacLean Michael F sold 11,151 shares, netting a total of over 364,192 in proceeds. Following the sale of shares at $32.66 each, the insider now holds 82,942 shares.
Before that, Boyce Sarah had sold 31,855 shares from its account. In a trade valued at $1,040,384, the President and CEO traded Avidity Biosciences Inc shares for $32.66 each. Upon closing the transaction, the insider’s holdings decreased to 31,855 shares, worth approximately $8.27 million.
As published in their initiating research note from H.C. Wainwright on December 20, 2024, Avidity Biosciences Inc [RNA] has been a Buy and the price target has been revised to $72. Analysts at RBC Capital Mkts started covering the stock with ‘”an Outperform”‘ outlook in a report released in late November. As of September 24, 2024, Goldman has initiated its “Buy” rating for RNA. Earlier on August 28, 2024, Barclays 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 -0.54%. Over the course of the year, Avidity Biosciences Inc shares have jumped approximately 7.22%. Shares of the company reached a 52-week high of $31.66 on 01/02/25 and a 52-week low of $29.39 on 01/02/25. A 50-day SMA is recorded $40.02, while a 200-day SMA reached $37.42. Nevertheless, trading volume fell to 1.3 million shares from 1.6 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 29.83, which, if violated, would cause prices to drop to 28.47. In the upper region, resistance lies at 32.10. The next price resistance is at 33.01. RSI (Relative Strength Index) is 36.75 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.59, which suggests the price will decrease in the coming days. Percent R is at 60.93%, indicating low price movement. Stochastics %K at buying indicates that the stock is to be held.
