Sarah Boyce, serving as President and Chief Executive Officer of Avidity Biosciences (NASDAQ:RNA), sold 14,387 shares of the company’s common stock on January 21, 2026. The shares were sold at a price of $72.45 each, culminating in a total transaction value of $1,042,338. This sale took place while RNA stock was trading close to its 52-week peak of $72.74, following an impressive 141% increase in the stock's value over the past twelve months.
According to details disclosed in a footnote of the Securities and Exchange Commission (SEC) filing, the sale was executed to satisfy tax withholding obligations related to Restricted Stock Units (RSUs) that vested the previous day, January 20, 2026. The transaction is part of a mandatory process dictated by Avidity Biosciences’ equity incentive plans and is not considered a discretionary sale initiated by Ms. Boyce.
Post-transaction, Ms. Boyce retains ownership of 269,007 shares in Avidity Biosciences. From a financial standpoint, RNA demonstrates a solid liquidity position, characterized by holding a cash balance exceeding its liabilities and a current ratio of 11.57. However, the company is still operating at a loss, reporting a negative earnings per share (EPS) of -$4.19.
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In recent operational developments, Avidity Biosciences initiated a Managed Access Program for delpacibart zotadirsen, an investigational drug targeting patients suffering from Duchenne muscular dystrophy with mutations eligible for exon 44 skipping. Authorized under an FDA treatment protocol, this program will permit eligible U.S. patients to receive the therapy, with enrollment anticipated to commence by year-end.
A major corporate event shaping Avidity’s current landscape is Novartis' agreement to acquire the company for approximately $12 billion, representing a cash offer of $72 per share. This announcement prompted impacts on analyst opinions; Chardan Capital Markets responded by downgrading Avidity’s stock from Buy to Neutral and adjusting their price target downward from $75.00 to $72.00. Similarly, TD Cowen shifted their recommendation from Buy to Hold and lowered the price target from $78.00 to $74.00, while maintaining the Hold rating. TD Cowen also highlighted that the company's Phase 2/3 del-brax FSHD biomarker cohort data remains on track for a 2026 release, signaling ongoing clinical progress amid strategic transitions.
These insider sales, acquisition proceedings, and program launches collectively underscore a transformative period for Avidity Biosciences as it navigates integration with Novartis and advances its drug development pipeline.