Street Calls of the Week
Chief Medical Officer of Avidity Biosciences (NASDAQ:RNA), Steven George Hughes, sold 1,542 shares of common stock on September 15, 2025, at a price of $45.41, totaling $70,022. The stock, currently trading at $40.09, has seen a 10.7% decline over the past week, though it maintains a strong 42.5% gain year-to-date according to InvestingPro data.
On the same day, Hughes also exercised options to acquire 1,542 shares of Avidity Biosciences at $6.57, for a total value of $10,130. The transactions were executed under a pre-arranged Rule 10b5-1 trading plan adopted on June 12, 2024.
Following the sale, Hughes directly owns 38,867 shares of Avidity Biosciences.
In other recent news, Avidity Biosciences announced the closing of a public offering, raising $690 million in gross proceeds through the sale of 17.25 million shares of common stock at $40 per share. This included the full exercise of the underwriters’ option to purchase an additional 2.25 million shares. Additionally, the company had previously priced an upsized public offering at $600 million, indicating strong investor interest. Roth/MKM initiated coverage on Avidity Biosciences with a Buy rating, highlighting the potential of its platform, particularly its three genetic medicines. H.C. Wainwright also raised its price target for Avidity Biosciences to $87 from $68, maintaining a Buy rating due to positive data from studies on Duchenne muscular dystrophy (DMD). BofA Securities increased its price target to $65 from $56, citing positive developments in DMD data and the company’s recent stock offering. These developments reflect a period of significant activity and interest surrounding Avidity Biosciences.
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