Avidity Biosciences CEO Sells Shares Amid Rising Price Targets

Avidity Biosciences (NASDAQ:RNA) continues to receive strong buy and outperform ratings from multiple analysts, with price targets ranging mostly between $50 and $75, indicating significant potential upside from current prices. Chardan Capital reiterated a buy rating with a $75 target, suggesting an 82.75% upside, while Needham & Company raised its price target from $60 to $65, maintaining a buy rating. Other firms such as Raymond James Financial, Wolfe Research, Evercore ISI, and Goldman Sachs have also issued positive ratings, contributing to a consensus buy rating and an average price target of approximately $67.28. CEO Sarah Boyce sold 50,000 shares recently at an average price of $49.95, reducing her holdings by 14.05%, though she still owns over 300,000 shares valued above $15 million. Meanwhile, unrelated to Avidity, Cantor Fitzgerald maintained a neutral rating on Shopify (NASDAQ:SHOP), citing steady cross-border performance but adopting a cautious outlook amid regulatory and market uncertainties. The overall market sentiment for Avidity Biosciences remains optimistic based on analyst coverage and projected stock appreciation.