Avidity Biosciences Inc (RNA, Financial), a biotechnology company focused on the discovery and development of oligonucleotide-based therapies called Antibody Oligonucleotide Conjugates (AOCsâ„¢), has reported an insider sell according to a recent SEC filing. The President and CEO of the company, Sarah Boyce, sold 112,000 shares of the company on March 12, 2024. The transaction was disclosed in an SEC Filing.
Over the past year, the insider has sold a total of 117,092 shares and has not made any purchases of the company's stock. The recent sell by the insider is part of a trend observed over the past year, where there have been no insider buys but 8 insider sells for Avidity Biosciences Inc.
On the day of the sell, shares of Avidity Biosciences Inc were trading at $21.7, giving the company a market cap of $1.808 billion. The stock's price on that day represents a significant premium over the GuruFocus Value (GF Value) of $8.12, with a price-to-GF-Value ratio of 2.67, indicating that the stock is considered Significantly Overvalued based on its GF Value.
The GF Value is a proprietary intrinsic value estimate from GuruFocus, which is calculated using historical trading multiples such as price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, along with a GuruFocus adjustment factor based on the company's historical returns and growth, and future business performance estimates from Morningstar analysts.
The insider trend image above reflects the recent selling activity by insiders at Avidity Biosciences Inc.
The GF Value image provides a visual representation of the stock's current valuation in relation to its GF Value, highlighting the disparity between the market price and the estimated intrinsic value.
Investors often monitor insider sell transactions as they may provide insights into an insider's perspective on the value of the company's stock. However, it is important to consider that insider selling can occur for various reasons and may not necessarily reflect a negative outlook on the company's future performance.
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.
