During the last session, Avidity Biosciences Inc. (NASDAQ:RNA)’s traded shares were 0.32 million. At the end of the trading day, the stock’s price was $12.95, reflecting an intraday gain of 5.28% or $0.65. The 52-week high for the RNA share is $29.59, that puts it down -128.49 from that peak though still a striking 14.9% gain since the share price plummeted to a 52-week low of $11.02. The company’s market capitalization is $678.06M, and the average intraday trading volume over the past 10 days was 0.28 million shares, and the average trade volume was 256.97K shares over the past three months.
Avidity Biosciences Inc. (RNA) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 1.80. RNA has a Sell rating from 0 analyst(s) out of 6 analysts who have looked at this stock. 0 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 6 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.7.
Avidity Biosciences Inc. (NASDAQ:RNA) trade information
Avidity Biosciences Inc. (RNA) registered a 5.28% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 5.28% in intraday trading to $12.95 this Friday, 05/13/22, hitting a weekly high. The stock’s 5-day price performance is -4.64%, and it has moved by -32.52% in 30 days. Based on these gigs, the overall price performance for the year is -36.58%. The short interest in Avidity Biosciences Inc. (NASDAQ:RNA) is 3.62 million shares and it means that shorts have 13.96 day(s) to cover.
The consensus price target of analysts on Wall Street is $45.40, which implies an increase of 71.48% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $32.00 and $60.00 respectively. As a result, RNA is trading at a discount of -363.32% off the target high and -147.1% off the low.
Avidity Biosciences Inc. (RNA) estimates and forecasts
Statistics show that Avidity Biosciences Inc. has underperformed its competitors in share price, compared to the industry in which it operates. Avidity Biosciences Inc. (RNA) shares have gone down -50.42% during the last six months, with a year-to-date growth rate less than the industry average at -36.84% against -0.10. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to shrink -62.80% this quarter and then drop -28.10% in the quarter after that. In the rating firms’ projections, revenue will increase 40.10% compared to the previous financial year.
Revenue for the current quarter is expected to be $2.17 million as predicted by 4 analyst(s). Meanwhile, a consensus of 3 analyst(s) estimates revenue growth to $2.25 million by the end of Mar 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $2.14 million and $2.7 million respectively. In this case, analysts expect current quarter sales to grow by 1.30% and then drop by -16.80% in the coming quarter.
While earnings are projected to return -39.10% in 2022.
Avidity Biosciences Inc. is due to release its next quarterly earnings between March 14 and March 18. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Avidity Biosciences Inc. (NASDAQ:RNA)’s Major holders
Avidity Biosciences Inc. insiders own 8.80% of total outstanding shares while institutional holders control 97.86%, with the float percentage being 107.30%. Price (T.Rowe) Associates Inc is the largest shareholder of the company, while 168 institutions own stock in it. As of Dec 30, 2021, the company held over 7.73 million shares (or 16.49% of all shares), a total value of $183.79 million in shares.
The next largest institutional holding, with 4.79 million shares, is of RTW Investments LP’s that is approximately 10.22% of outstanding shares. At the market price on Dec 30, 2021, these shares were valued at $113.98 million.
Also, the Mutual Funds coming in first place with the largest holdings of Avidity Biosciences Inc. (RNA) shares are Price (T.Rowe) New Horizons Fund and Federated Hermes Kaufmann Small Cap Fund. Data provided on Sep 29, 2021 indicates that Price (T.Rowe) New Horizons Fund owns about 2.81 million shares. This amounts to just over 5.99 percent of the company’s overall shares, with a $69.17 million market value. The same data shows that the other fund manager holds slightly less at 1.32 million, or about 2.81% of the stock, which is worth about $29.7 million.