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Avidity Biosciences Inc. (NASDAQ:RNA) Chief Medical Officer Steven George Hughes sold 2,209 shares of common stock on October 22, 2025. The shares were sold at a weighted-average price of $47.5394, resulting in a total transaction value of $105,014. The prices for the sales ranged from $46.83 to $49.30. The transaction comes as RNA trades near $49.15, having surged over 54% in the past six months. According to InvestingPro analysis, the company currently appears overvalued against its Fair Value.
On the same day, Hughes also exercised options to acquire 2,209 shares of Avidity Biosciences common stock at a price of $10.16 per share, for a total value of $22,443.
These 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 it has completed a positive pre-Biologics License Application meeting with the U.S. Food and Drug Administration for its investigational drug delpacibart zotadirsen, intended for Duchenne muscular dystrophy patients. The company has revised its submission timeline to the first quarter of 2026 to provide additional data requested by regulators. Avidity Biosciences also successfully closed a public offering, raising $690 million through the sale of 17.25 million shares of common stock. Roth/MKM initiated coverage on Avidity Biosciences with a Buy rating, citing the company’s platform potential and first-mover advantages in genetic medicines. Meanwhile, H.C. Wainwright raised its price target for Avidity Biosciences to $87, maintaining a Buy rating following promising data from studies on Duchenne muscular dystrophy. BofA Securities also increased its price target to $65, maintaining a Buy rating, highlighting the impact of recent positive data and the stock offering. These developments reflect ongoing interest and confidence in Avidity Biosciences’ potential in the biotechnology sector.
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