Avidity Biosciences Inc. (NASDAQ: RNA) is -4.55% lower on its value in year-to-date trading and has touched a low of $9.83 and a high of $25.74 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 $21.79 in the last trading session, with the day’s loss setting it -0.61% off its average median price target of $35.00 for the next 12 months. It is also 70.17% off the consensus price target high of $71.00 offered by 8 analysts, but current levels are 21.56% higher than the price target low of $27.00 for the same period.
Currently trading at $21.18, the stock is -8.51% and -6.40% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.65 million and changing -2.80% at the moment leaves the stock 17.79% off its SMA200. RNA registered 32.13% gain for a year compared to 6-month gain of 6.92%.
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The stock witnessed a -10.10% loss in the last 1 month and extending the period to 3 months gives it a 84.17%, and is -4.81% 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 6.36% over the week and 6.24% over the month.
Avidity Biosciences Inc. (RNA) has around 186 employees, a market worth around $1.53B and $9.20M in sales. Distance from 52-week low is 115.46% and -17.72% from its 52-week high. The company has generated returns on investments over the last 12 months (-30.90%).
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 05/10/2023.The EPS is expected to shrink by -17.10% this year
Avidity Biosciences Inc. (RNA) Top Institutional Holders
The shares outstanding are 57.35M, and float is at 50.87M with Short Float at 16.33%.
Avidity Biosciences Inc. (RNA) Insider Activity
A total of 15 insider transactions have happened at Avidity Biosciences Inc. (RNA) in the last six months, with sales accounting for 5 and purchases happening 10 times. The most recent transaction is an insider sale by LEVIN ARTHUR A, the company’s Chief Scientific Officer. SEC filings show that LEVIN ARTHUR A sold 10,000 shares of the company’s common stock on Feb 14 at a price of $23.66 per share for a total of $0.24 million. Following the sale, the insider now owns 19330.0 shares.
Avidity Biosciences Inc. disclosed in a document filed with the SEC on Feb 03 that Boyce Sarah (President and CEO) sold a total of 3,221 shares of the company’s common stock. The trade occurred on Feb 03 and was made at $24.26 per share for $78141.0. Following the transaction, the insider now directly holds 53352.0 shares of the RNA stock.
Still, SEC filings show that on Feb 02, Boyce Sarah (President and CEO) disposed off 45,879 shares at an average price of $24.36 for $1.12 million. The insider now directly holds 53,352 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 21.76% up over the past 12 months and GSK plc (GSK) that is -19.09% lower over the same period. Sarepta Therapeutics Inc. (SRPT) is 95.16% up on the 1-year trading charts.
