Michael F. MacLean, serving as Chief Financial Officer at Avidity Biosciences Inc (NASDAQ: RNA), sold a total of 4,542 shares of the company’s common stock on January 21, 2026, at a price of $72.45 per share. This transaction brought in approximately $329,067. Notably, the sale took place when RNA shares were trading close to their 52-week high of $72.74. Over the previous twelve months, the stock yielded a remarkable 141% return, underscoring strong investor interest as indicated by investing data.
The stock disposition was split into two distinct transactions: one involving 1,807 shares and another covering 2,735 shares. Subsequent to these sales, MacLean retains ownership of 59,290 Avidity Biosciences shares. Analytical reviews denote that RNA shares might currently be marginally overvalued, with price targets from market analysts ranging between $72 and $96, reflecting expectations for the biotech firm, which maintains a financial position featuring more cash than debt.
It is important to emphasize that these sales were conducted pursuant to Avidity Biosciences' equity incentive plans. They served to satisfy withholding tax obligations connected to the vesting of Restricted Stock Units (RSUs) on January 20, 2026. Such transactions, often referred to as "sell-to-cover," are routine and not indicative of discretionary trading decisions by the CFO. Market participants can further assess Avidity Biosciences as the company is scheduled to release its next earnings report on March 3, 2026. Additional insights can be accessed via a detailed Pro Research Report and 16 supplementary analytical ProTips available through investing platforms.
Beyond insider transactions, Avidity Biosciences announced the launch of a Managed Access Program for delpacibart zotadirsen, an experimental therapy targeting patients with Duchenne muscular dystrophy who possess specific genetic mutations. Authorized by the U.S. Food and Drug Administration (FDA), this program enables eligible patients in the United States to receive the therapy through participating healthcare professionals. The enrollment phase for this program is set to commence by the end of the current year.
In a significant strategic move, Novartis has agreed to acquire Avidity Biosciences in a deal valued at approximately $12 billion, offering shareholders $72 per share in cash. This development spurred Chardan Capital Markets to lower their rating on Avidity’s stock from Buy to Neutral, revising their price target downward to $72.00 from the prior $75.00. Similarly, TD Cowen adjusted its stance to Hold from Buy, setting their price objective at $74.00 instead of $78.00. While reconfirming a Hold rating, TD Cowen noted that Avidity’s Phase 2/3 biomarker data release remains on schedule for the second quarter of 2026.
These series of events symbolize a pivotal period of transformation and strategic realignment for Avidity Biosciences amid the backdrop of a pending acquisition and continued clinical progress. Investors and market observers will be closely monitoring the company’s upcoming financial disclosures and clinical trial data to better gauge its future direction.