Avidity Biosciences’ chief program officer sells $163k in stock

SAN DIEGO—Kathleen P. Gallagher, Chief Program Officer at Avidity Biosciences, Inc. (NASDAQ:RNA), executed a series of stock transactions on April 1, 2025, according to a recent SEC filing. The company, currently valued at $3.39 billion, has seen its stock decline 8.57% over the past week, according to InvestingPro data. Gallagher sold 5,875 shares of Avidity Biosciences’ common stock for a total of $163,485, with shares sold at a weighted-average price of $27.8274. The shares were sold in multiple transactions with prices ranging from $26.67 to $29.16.

In addition to the sales, Gallagher exercised options to acquire 5,875 shares at prices between $14.70 and $16.65, totaling $87,004. Following these transactions, Gallagher holds 50,554 shares of Avidity Biosciences directly.

These transactions were conducted under a Rule 10b5-1 trading plan, which Gallagher adopted on June 12, 2024.

In other recent news, Avidity Biosciences has reported significant progress in its clinical trials and received several endorsements from analyst firms. The company has announced positive topline data from its Phase 1/2 EXPLORE44 trial for del-zota, a treatment for Duchenne muscular dystrophy (DMD) targeting exon 44, showing statistically significant improvements in dystrophin production and favorable safety profiles. Avidity Biosciences plans to file a Biologics License Application (BLA) for del-zota by the end of 2025, with potential approval expected in 2026.

The company is also advancing its Phase 3 trial for del-brax, a treatment for facioscapulohumeral muscular dystrophy (FSHD), with Cantor Fitzgerald maintaining an Overweight rating and a $96 price target. Citi has reiterated a Buy rating with a $70 price target, highlighting the potential commercial foundation that del-zota could establish. H.C. Wainwright has also reaffirmed a Buy rating with a $72 price target, emphasizing the positive trial data and clean safety profile of del-zota.

Additionally, BMO Capital Markets has initiated coverage with an Outperform rating and a $72 price target, reflecting confidence in Avidity’s potential to address neuromuscular disorders. These developments underscore the company’s ongoing efforts to bring new therapeutic options to the market and its strategic progress in the regulatory pathway.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.