Avidity Biosciences Inc [RNA] stock is trading at $52.50, up 12.35%. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The RNA shares have gain 11.13% over the last week, with a monthly amount glided 12.42%, 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 September 24, 2024, when Goldman initiated its Buy rating and assigned the stock a price target of $59. Previously, Barclays started tracking the stock with Overweight rating on August 28, 2024, and set its price target to $63. On May 03, 2024, BofA Securities initiated with a Buy rating and assigned a price target of $40 on the stock. Cantor Fitzgerald started tracking the stock assigning a Overweight rating and suggested a price target of $60 on March 14, 2024. Evercore ISI upgraded its rating to a Outperform but $20 remained the price target by the analyst firm on May 22, 2023. Evercore ISI downgraded its rating to In-line for this stock on March 31, 2023, but kept the price target unchanged to $20. In a note dated July 20, 2022, Chardan Capital Markets initiated an Buy rating and provided a target price of $29 on this stock.
Avidity Biosciences Inc [RNA] stock has fluctuated between $5.36 and $50.78 over the past year. Currently, Wall Street analysts expect the stock to reach $54.5 within the next 12 months. Avidity Biosciences Inc [NASDAQ: RNA] shares were valued at $52.50 at the most recent close of the market. An investor can expect a potential return of 3.81% based on the average RNA price forecast.
Analyzing the RNA fundamentals
Avidity Biosciences Inc [NASDAQ:RNA] reported sales of 10.12M for the trailing twelve months, which represents a drop of -17.10%. 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 0.0.
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 47.55 points at the first support level, and at 42.59 for the second support level. However, for the 1st resistance point, the stock is sitting at 56.73, and for the 2nd resistance point, it is at 60.95.
Ratios To Look Out For
For context, Avidity Biosciences Inc’s Current Ratio is 17.76. Further, the Quick Ratio stands at 17.76, while the Cash Ratio is 6.84. Considering the valuation of this stock, the price to sales ratio is 618.95, the price to book ratio is 4.15.
Transactions by insiders
Recent insider trading involved MacLean Michael F, Chief Financial Officer, that happened on Nov 06 ’24 when 0.11 million shares were sold. Officer, MICHAEL MACLEAN completed a deal on Nov 06 ’24 to buy 0.11 million shares. Meanwhile, Director LEVIN ARTHUR A sold 5000.0 shares on Oct 21 ’24.
