Avidity Biosciences Inc [RNA] stock prices are up 12.13% to $46.95 at the moment. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The RNA shares have gain 13.76% over the last week, with a monthly amount glided 5.96%, and seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
Avidity Biosciences Inc [NASDAQ: RNA] stock has seen the most recent analyst activity on May 03, 2024, when BofA Securities initiated its Buy rating and assigned the stock a price target of $40. Previously, Cantor Fitzgerald started tracking the stock with Overweight rating on March 14, 2024, and set its price target to $60. On May 22, 2023, upgrade upgraded it’s rating to Outperform but maintained its price target of $20 on the stock. Evercore ISI downgraded its rating to a In-line but stick to its price target of $20 on March 31, 2023. Chardan Capital Markets initiated its recommendation with a Buy and recommended $29 as its price target on July 20, 2022. Raymond James started tracking with a Strong Buy rating for this stock on July 12, 2022, and assigned it a price target of $29. In a note dated September 07, 2021, Evercore ISI initiated an Outperform rating and provided a target price of $50 on this stock.
The stock price of Avidity Biosciences Inc [RNA] has been fluctuating between $4.82 and $48.80 over the past year. Currently, Wall Street analysts expect the stock to reach $50 within the next 12 months. Avidity Biosciences Inc [NASDAQ: RNA] shares were valued at $46.95 at the most recent close of the market. An investor can expect a potential return of 6.5% based on the average RNA price forecast.
Analyzing the RNA fundamentals
The Avidity Biosciences Inc [NASDAQ:RNA] reported sales of 10.60M for trailing twelve months, representing a drop of -11.70%. Gross Profit Margin for this corporation currently stands at 0.69% with Operating Profit Margin at -26.91%, Pretax Profit Margin comes in at -23.82%, and Net Profit Margin reading is -23.82%. To continue investigating profitability, this company’s Return on Assets is posted at -0.19, Equity is -0.33 and Total Capital is -0.23. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.01.
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 44.14 points at the first support level, and at 41.33 for the second support level. However, for the 1st resistance point, the stock is sitting at 48.63, and for the 2nd resistance point, it is at 50.31.
Ratios To Look Out For
It’s worth pointing out that Avidity Biosciences Inc [NASDAQ:RNA]’s Current Ratio is 15.78. As well, the Quick Ratio is 15.78, while the Cash Ratio is 6.84. Considering the valuation of this stock, the price to sales ratio is 423.61, the price to book ratio is 4.20.
Transactions by insiders
Recent insider trading involved Boyce Sarah, President and CEO, that happened on Aug 06 ’24 when 28000.0 shares were sold. Director, LEVIN ARTHUR A completed a deal on Jul 19 ’24 to sell 5000.0 shares. Meanwhile, President and CEO Boyce Sarah sold 28000.0 shares on Jul 09 ’24.
