Avidity Biosciences stock is trading -23.24% below its average target price of $67.91 after marking a 11.6% during today's afternoon session. Analysts are giving the Mid-Cap Pharmaceutical company an average rating of buy and target prices ranging from $51.0 to $96.0 per share.
Avidity Biosciences has an elevated short interest of 15.2%. The stock's short ratio, or the number of days needed for all shorts to cover their positions, is 17.7. Only 4.83% of the company's shares are owned by insiders, indicating that management does not have a deep alignment of interest with its shareholders. 96.9% of Avidity Biosciences shares are held by institutional investors, which indicates a high level of confidence in the stock.
Institutions Invested in Avidity Biosciences
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2024-06-30 | FMR, LLC | 14% | 16,159,047 | $842,330,700 |
| 2024-06-30 | Price (T.Rowe) Associates Inc | 9% | 10,916,626 | $569,056,406 |
| 2024-06-30 | RTW Investments LP | 7% | 8,806,838 | $459,078,435 |
| 2024-06-30 | Blackrock Inc. | 7% | 8,622,513 | $449,470,034 |
| 2024-06-30 | Avoro Capital Advisors LLC | 5% | 6,505,000 | $339,089,378 |
| 2024-06-30 | Vanguard Group Inc | 5% | 5,943,682 | $309,829,275 |
| 2024-06-30 | RA Capital Management, L.P. | 5% | 5,400,408 | $281,509,760 |
| 2024-06-30 | Wellington Management Group, LLP | 3% | 3,802,026 | $198,190,105 |
| 2024-06-30 | Janus Henderson Group PLC | 3% | 3,656,843 | $190,622,078 |
| 2024-06-30 | Adage Capital Partners GP L.L.C. | 3% | 3,396,982 | $177,076,174 |
For these reasons, we consider that the Avidity Biosciences is the subject of mixed market sentiment.
