Avidity Biosciences, Inc. (NASDAQ:RNA – Get Free Report) has been assigned an average rating of “Buy” from the seven analysts that are presently covering the company, MarketBeat.com reports. Seven investment analysts have rated the stock with a buy rating. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $61.00.
A number of research firms have recently commented on RNA. Chardan Capital raised their price objective on Avidity Biosciences from $45.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Cantor Fitzgerald restated an “overweight” rating and issued a $96.00 price target on shares of Avidity Biosciences in a report on Monday, September 16th. Barclays assumed coverage on shares of Avidity Biosciences in a research note on Wednesday, August 28th. They set an “overweight” rating and a $63.00 price objective for the company. Evercore ISI cut their target price on shares of Avidity Biosciences from $54.00 to $53.00 and set an “outperform” rating on the stock in a research note on Monday, August 26th. Finally, Needham & Company LLC restated a “buy” rating and set a $60.00 target price on shares of Avidity Biosciences in a report on Tuesday, August 13th.
Read Our Latest Analysis on Avidity Biosciences
Insider Transactions at Avidity Biosciences
Institutional Trading of Avidity Biosciences
Several institutional investors have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC lifted its holdings in Avidity Biosciences by 456.9% during the 4th quarter. Quadrant Capital Group LLC now owns 3,308 shares of the biotechnology company’s stock worth $30,000 after buying an additional 2,714 shares during the last quarter. Quarry LP increased its stake in Avidity Biosciences by 566.7% during the second quarter. Quarry LP now owns 2,000 shares of the biotechnology company’s stock valued at $82,000 after purchasing an additional 1,700 shares during the last quarter. nVerses Capital LLC increased its stake in Avidity Biosciences by 25.9% during the second quarter. nVerses Capital LLC now owns 3,400 shares of the biotechnology company’s stock valued at $139,000 after purchasing an additional 700 shares during the last quarter. Amalgamated Bank increased its stake in Avidity Biosciences by 39.0% during the second quarter. Amalgamated Bank now owns 3,497 shares of the biotechnology company’s stock valued at $143,000 after purchasing an additional 982 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Avidity Biosciences by 32.4% during the second quarter. Nisa Investment Advisors LLC now owns 4,399 shares of the biotechnology company’s stock worth $180,000 after purchasing an additional 1,076 shares during the period.
Avidity Biosciences Stock Performance
Shares of RNA stock opened at $43.50 on Tuesday. The firm has a market capitalization of $4.16 billion, a price-to-earnings ratio of -14.75 and a beta of 0.89. Avidity Biosciences has a one year low of $4.82 and a one year high of $48.80. The company has a 50 day moving average price of $43.77 and a 200 day moving average price of $34.46.
Avidity Biosciences (NASDAQ:RNA – Get Free Report) last released its quarterly earnings data on Friday, August 9th. The biotechnology company reported ($0.65) EPS for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.11. Avidity Biosciences had a negative return on equity of 32.89% and a negative net margin of 2,381.82%. The business had revenue of $2.05 million during the quarter, compared to the consensus estimate of $7.09 million. As a group, equities analysts forecast that Avidity Biosciences will post -3.01 EPS for the current fiscal year.
Avidity Biosciences Company Profile
Avidity Biosciences, Inc, a biopharmaceutical company, engages in the delivery of RNA therapeutics. It develops antibody oligonucleotide conjugates (AOC) that are designed to treat diseases previously untreatable with RNA therapeutics. The company's lead product candidate AOC 1001 for the treatment of myotonic dystrophy type 1, a rare monogenic muscle disease that is in phase 1/2 clinical trial.
Featured Articles
- Five stocks we like better than Avidity Biosciences
- How is Compound Interest Calculated?
- The Average 401k Balance by Age Explained
- Stock Splits, Do They Really Impact Investors?
- 3 Uranium Stocks To Gain as Microsoft Goes Nuclear to Power AI
- Stock Market Sectors: What Are They and How Many Are There?
- Biotech Boom Ahead? Key Stocks and ETFs to Watch Now
Receive News & Ratings for Avidity Biosciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avidity Biosciences and related companies with MarketBeat.com's FREE daily email newsletter.