Yahoo Finance Insider Sell: Avidity Biosciences Inc (RNA) President and CEO Sarah Boyce Sells 28,000 Shares
President and CEO Sarah Boyce of Avidity Biosciences Inc (NASDAQ:RNA) sold 28,000 shares of the company on April 2, 2024, according to a recent SEC filing. The transaction was executed at an average price of $26.25 per share, resulting in a total value of $735,000.
Avidity Biosciences Inc is a biotechnology company focused on the discovery and development of oligonucleotide-based therapies called Antibody Oligonucleotide Conjugates (AOCs). The company aims to combine the tissue selectivity of monoclonal antibodies and the precision of oligonucleotide therapies to target genetic drivers of disease.
Over the past year, the insider has sold a total of 145,092 shares of Avidity Biosciences Inc and has not made any purchases of the stock. The recent sale further contributes to the trend observed over the past year, where there have been 11 insider sells and no insider buys.
On the day of the insider's recent sale, shares of Avidity Biosciences Inc were trading at $26.25, giving the company a market capitalization of $2.123 billion.
The stock's price-to-GF-Value ratio stands at 3.42, indicating that Avidity Biosciences Inc is significantly overvalued according to the GF Value. The GF Value is a proprietary intrinsic value estimate from GuruFocus, which is calculated based on historical trading multiples, a GuruFocus adjustment factor, and future business performance estimates from Morningstar analysts.
The insider transaction history and the current market valuation suggest that insiders may perceive the stock as being overvalued, which could explain the recent selling activity.
Investors often monitor insider selling as it can provide insights into an insider's perspective on the value of the company's stock. However, insider transactions are not always indicative of future stock performance and may be influenced by various factors, including personal financial needs or portfolio diversification strategies.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
