Avidity Biosciences Inc. (NASDAQ: RNA) is -48.93% lower on its value in year-to-date trading and has touched a low of $10.89 and a high of $27.00 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The RNA stock was last observed hovering at around $11.96 in the last trading session, with the day’s gains setting it 0.18% off its average median price target of $33.00 for the next 12 months. It is also 79.77% off the consensus price target high of $60.00 offered by 8 analysts, but current levels are 55.04% higher than the price target low of $27.00 for the same period.
Currently trading at $12.14, the stock is -11.36% and -22.98% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.96 million and changing 1.51% at the moment leaves the stock -26.69% off its SMA200. RNA registered -50.83% loss for a year compared to 6-month gain of -4.78%.
The stock witnessed a -13.84% loss in the last 1 month and extending the period to 3 months gives it a -48.19%, and is -4.26% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 6.49% over the week and 7.17% over the month.
Avidity Biosciences Inc. (RNA) has around 125 employees, a market worth around $662.24M and $8.30M in sales. Distance from 52-week low is 11.48% and -55.04% from its 52-week high. The company has generated returns on investments over the last 12 months (-31.00%).
Avidity Biosciences Inc. (RNA) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Avidity Biosciences Inc. (RNA) is a “Buy”. 8 analysts offering their recommendations for the stock have an average rating of 1.70, where 0 rate it as a Hold and 0 think it is a “Overweight”. 8 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Avidity Biosciences Inc. is expected to release its quarterly report on 03/13/2023.The EPS is expected to shrink by -39.10% this year
Avidity Biosciences Inc. (RNA) Top Institutional Holders
The shares outstanding are 53.07M, and float is at 50.87M with Short Float at 10.92%.
Avidity Biosciences Inc. (RNA) Insider Activity
A total of 13 insider transactions have happened at Avidity Biosciences Inc. (RNA) in the last six months, with sales accounting for 6 and purchases happening 7 times. The most recent transaction is an insider sale by Boyce Sarah, the company’s President and CEO. SEC filings show that Boyce Sarah sold 14,855 shares of the company’s common stock on Aug 25 at a price of $23.07 per share for a total of $0.34 million. Following the sale, the insider now owns 0.0 shares.
Avidity Biosciences Inc. disclosed in a document filed with the SEC on Aug 24 that Boyce Sarah (President and CEO) sold a total of 35,045 shares of the company’s common stock. The trade occurred on Aug 24 and was made at $22.80 per share for $0.8 million. Following the transaction, the insider now directly holds 0.0 shares of the RNA stock.
Still, SEC filings show that on Aug 16, LEVIN ARTHUR A (Chief Scientific Officer) disposed off 3,499 shares at an average price of $22.08 for $77257.0. The insider now directly holds 1,330 shares of Avidity Biosciences Inc. (RNA).
Avidity Biosciences Inc. (RNA): Who are the competitors?
The company’s main competitors (and peers) include Vertex Pharmaceuticals Incorporated (VRTX) that is trading 69.21% up over the past 12 months and GSK plc (GSK) that is -20.45% lower over the same period. Sarepta Therapeutics Inc. (SRPT) is 44.64% up on the 1-year trading charts.