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John B. Moriarty, Chief Legal Officer of Avidity Biosciences (NASDAQ:RNA), a $4.62 billion biotech company whose stock has gained 28.4% year-to-date, sold 2,245 shares of common stock on August 4, 2025, according to a Form 4 filing with the Securities and Exchange Commission. According to InvestingPro analysis, the stock is currently trading near its Fair Value. The shares were sold at prices ranging from $35.92 to $36.21, for a total transaction value of $81,291.
The sale was to cover tax withholding obligations related to the vesting of Restricted Stock Units (RSUs) on August 1, 2025. The sale was mandated by Avidity Biosciences’ election under its equity incentive plans to require the satisfaction of tax withholding obligations to be funded by a "sell-to-cover" transaction. Following the transaction, Moriarty directly owns 47,755 shares of Avidity Biosciences stock.
In other recent news, Avidity Biosciences has completed enrollment for its Phase 3 HARBOR clinical trial of delpacibart etedesiran for treating myotonic dystrophy type 1, with topline data anticipated in the second quarter of 2026. The company plans to submit marketing applications for this treatment in the United States, European Union, and Japan starting in the latter half of 2026. Additionally, the U.S. Food and Drug Administration granted Breakthrough Therapy designation to Avidity’s delpacibart zotadirsen for Duchenne muscular dystrophy, which is currently in Phase 2 trials. This designation aims to expedite the development and review of drugs that treat serious conditions. Meanwhile, Goldman Sachs resumed coverage on Avidity Biosciences with a Buy rating, citing a positive outlook on the company’s platform technology. Cantor Fitzgerald also reiterated its overweight rating on Avidity, highlighting confidence in the company’s leadership and their work on treatments for rare muscle diseases. These developments reflect ongoing interest and potential advancements in Avidity’s therapeutic pipeline.
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