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Avidity Biosciences Inc (RNA) Volatility At 7.01%, Should You Add A Position?

Avidity Biosciences Inc (NASDAQ: RNA) is 194.36% higher on its value in year-to-date trading and has touched a low of $4.82 and a high of $26.98 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The RNA stock was last observed hovering at around $26.87 in the last trading session, with the day’s loss setting it -0.23%.

Currently trading at $26.64, the stock is 13.84% and 52.77% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.95 million and changing -0.86% at the moment leaves the stock 153.69% off its SMA200. RNA registered 73.55% gain for a year compared to 6-month gain of 348.48%. The firm has a 50-day simple moving average (SMA 50) of $162.99 and a 200-day simple moving average (SMA200) of -$6.67.

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The stock witnessed a 41.25% loss in the last 1 month and extending the period to 3 months gives it a 190.83%, and is 10.77% up 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 7.01% over the week and 6.81% over the month.

Avidity Biosciences Inc (RNA) has around 253 employees, a market worth around $2.12B and $9.56M in sales. Profit margin for the company is -2219.87%. Distance from 52-week low is 452.12% and -1.26% from its 52-week high. The company has generated returns on investments over the last 12 months (-41.86%).

Avidity Biosciences Inc quarterly earnings per share for the current quarter are estimated at -$0.78 with sales reaching $2.93M over the same period.The EPS is expected to shrink by -10.57% this year, but quarterly earnings will post 7.10% year-over-year. Quarterly sales are estimated to grow 31.20% in year-over-year returns.

209 institutions hold shares in Avidity Biosciences Inc (RNA), with institutional investors hold 91.26% of the company’s shares. The shares outstanding are 79.28M, and float is at 70.71M with Short Float at 12.19%. Institutions hold 85.40% of the Float.

The top institutional shareholder in the company is FMR, LLC with over 10.62 million shares valued at $117.81 million. The investor’s holdings represent 14.34% of the RNA Shares outstanding. As of Jun 29, 2023, the second largest holder is RTW Investments LP with 6.69 million shares valued at $74.19 million to account for 9.03% of the shares outstanding. The other top investors are Price (T.Rowe) Associates Inc which holds 6.68 million shares representing 9.02% and valued at over $74.13 million, while RA Capital Management, L.P. holds 8.66% of the shares totaling 6.42 million with a market value of $71.16 million.

Avidity Biosciences Inc (RNA) Insider Activity

The most recent transaction is an insider sale by LEVIN ARTHUR A, the company’s Director. SEC filings show that LEVIN ARTHUR A sold 20,000 shares of the company’s common stock on Apr 03 ’24 at a price of $27.11 per share for a total of $0.54 million. Following the sale, the insider now owns 0.25 million shares.

Avidity Biosciences Inc disclosed in a document filed with the SEC on Apr 02 ’24 that Boyce Sarah (President and CEO) sold a total of 28,000 shares of the company’s common stock. The trade occurred on Apr 02 ’24 and was made at $26.25 per share for $0.73 million. Following the transaction, the insider now directly holds 0.11 million shares of the RNA stock.

Still, SEC filings show that on Mar 19 ’24, LEVIN ARTHUR A (Director) disposed off 5,000 shares at an average price of $23.97 for $0.12 million. The insider now directly holds 14,830 shares of Avidity Biosciences Inc (RNA).

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