Avidity Biosciences Inc [RNA] stock is trading at $18.86, down -6.22%. An important factor to consider is whether the stock is rising or falling in short-term value. The RNA shares have gain 29.98% over the last week, with a monthly amount glided 55.35%, and seem to be holding up well over a long-time horizon.
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On 4, March 2024, Avidity Biosciences Announces Positive AOC 1001 Long-term Data Showing Reversal of Disease Progression in People Living with Myotonic Dystrophy Type 1 Across Multiple Endpoints; Same Key Endpoints Agreed for Phase 3 HARBOR™ Trial. In a post published today on Yahoo Finance, Avidity accelerates global Phase 3 HARBOR™ study initiation to Q2 2024 following regulatory agreement on study design; primary endpoint is video hand opening time (vHOT) and secondary endpoints include muscle strength and activities of daily living.
From an analyst’s perspective:
Avidity Biosciences Inc [NASDAQ: RNA] stock has seen the most recent analyst activity on May 22, 2023, when Evercore ISI upgraded its rating to a Outperform but kept the price target unchanged to $20 for it. Previously, Evercore ISI downgraded its rating to In-line on March 31, 2023, and kept the price target unchanged to $20. On July 20, 2022, Chardan Capital Markets initiated with a Buy rating and assigned a price target of $29 on the stock. Raymond James started tracking the stock assigning a Strong Buy rating and suggested a price target of $29 on July 12, 2022. Evercore ISI initiated its recommendation with a Outperform and recommended $50 as its price target on September 07, 2021. Needham started tracking with a Buy rating for this stock on June 17, 2021, and assigned it a price target of $50.
Avidity Biosciences Inc [RNA] stock has fluctuated between $4.82 and $24.84 over the past year. Avidity Biosciences Inc [NASDAQ: RNA] shares were valued at $18.86 at the most recent close of the market.
Analyzing the RNA fundamentals
Avidity Biosciences Inc [NASDAQ:RNA] reported sales of 9.56M for the trailing twelve months, which represents a drop of -20.80%. Gross Profit Margin for this corporation currently stands at 0.55% with Operating Profit Margin at -24.14%, Pretax Profit Margin comes in at -22.2%, and Net Profit Margin reading is -21.65%. To continue investigating profitability, this company’s Return on Assets is posted at -0.33, Equity is -0.39 and Total Capital is -0.42. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.02.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 16.56 points at the first support level, and at 14.27 for the second support level. However, for the 1st resistance point, the stock is sitting at 20.89, and for the 2nd resistance point, it is at 22.93.
Avidity Biosciences Inc [RNA] reported earnings per share of -$0.79 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of -$0.66/share, meaning a difference of -$0.13 and a surprise factor of -19.70%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were -$0.71 per share as compared to estimates of -$0.77 per share, a difference of $0.06 representing a surprise of 7.80%.
Ratios To Look Out For
For context, Avidity Biosciences Inc’s Current Ratio is 7.58. On the other hand, the Quick Ratio is 7.58, and the Cash Ratio is 2.29. Considering the valuation of this stock, the price to sales ratio is 157.27, the price to book ratio is 2.99.
Transactions by insiders
Recent insider trading involved Boyce Sarah, President and CEO, that happened on Jan 22 when 5092.0 shares were sold. CSTO, Flanagan W. Michael completed a deal on Jan 22 to sell 4129.0 shares. Meanwhile, Chief Human Resources Officer McCarthy Teresa sold 2065.0 shares on Jan 22.
