Bitcoin price today: falls to 2-week low below $113k ahead of Fed Jackson Hole
SAN DIEGO—Flanagan W. Michael, the Chief Scientific Officer of Avidity Biosciences, Inc. (NASDAQ:RNA), executed a series of stock transactions on March 11, 2025, according to a recent SEC filing. Michael exercised options to acquire 20,000 shares of common stock at $14.22 per share, totaling $284,400. Subsequently, he sold the same number of shares at a weighted average price of $30.13, yielding a total of $602,614. The stock currently trades at $32.61, suggesting continued upward momentum. InvestingPro analysis indicates the company maintains strong liquidity with a current ratio of 15.73.
These transactions were conducted under a pre-established Rule 10b5-1 trading plan, which Michael adopted on June 12, 2024. The sales price ranged from $30.00 to $30.56 per share. Following these transactions, Michael holds 91,975 shares directly. With a market capitalization of $3.92 billion and analyst consensus showing strong buy recommendations, the stock presents interesting potential. InvestingPro subscribers can access 8 additional key insights and a comprehensive analysis of RNA’s financial health, which currently rates as FAIR.
In other recent news, Avidity Biosciences has garnered significant attention from multiple analyst firms. BMO Capital Markets initiated coverage with an Outperform rating and a price target of $72, highlighting the company’s potential in neuromuscular disorder treatments. Similarly, Scotiabank (TSX:BNS) started coverage with a Sector Outperform rating and a $70 price target, emphasizing Avidity’s promising drug pipeline for rare muscle disorders. Cantor Fitzgerald maintained its Overweight rating and set a $96 price target, expressing confidence in Avidity’s potential first-in-class and best-in-class drugs, with projected peak sales reaching $5-10 billion. H.C. Wainwright also initiated a Buy rating with a $72 price target, praising the company’s Antibody Oligonucleotide Conjugate platform and successful clinical programs. The anticipation of regulatory milestones, including potential accelerated approvals, is expected to drive investor interest. Avidity’s ongoing Phase 3 HARBOR trial for myotonic dystrophy and the FORTITUDE program for FSHD are key areas of focus. These developments reflect a positive outlook from analysts on Avidity Biosciences’ growth and strategic direction.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.