Avidity Biosciences Inc (NASDAQ:RNA) has a beta value of 0.71 and has seen 1.68 million shares traded in the last trading session. The company, currently valued at $1.95B, closed the last trade at $24.42 per share which meant it gained $0.45 on the day or 1.88% during that session. The RNA stock price is -7.45% off its 52-week high price of $26.24 and 80.26% above the 52-week low of $4.82. If we look at the company’s 10-day average daily trading volume, we find that it stood at 1.78 million shares traded. The 3-month trading volume is 1.22 million shares.
Avidity Biosciences Inc (NASDAQ:RNA) trade information
Sporting 1.88% in the green in last session, the stock has traded in the green over the last five days, when the RNA stock price touched $24.42 or saw a rise of 6.94%. Year-to-date, Avidity Biosciences Inc shares have moved 169.83%, while the 5-day performance has seen it change 13.79%. Over the past 30 days, the shares of Avidity Biosciences Inc (NASDAQ:RNA) have changed 80.75%. Short interest in the company has seen 7.77 million shares shorted with days to cover at 8.24.
Avidity Biosciences Inc (RNA) estimates and forecasts
Figures show that Avidity Biosciences Inc shares have underperformed across the wider relevant industry. The company’s shares have gained 234.98% over the past 6 months, with this year growth rate of -7.90%, compared to 13.60% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2024 fiscal year revenue. Growth estimates for the current quarter are -5.40% and -18.20% for the next quarter. Revenue growth from the last financial year stood is estimated to be 15.40%.
7 analysts offering their estimates for the company have set an average revenue estimate of $2.93 million for the current quarter. 7 have an estimated revenue figure of $2.81 million for the next quarter concluding in Jun 2024. Year-ago sales stood $2.23 million and $2.14 million respectively for this quarter and the next, and analysts expect sales will grow by 31.20% for the current quarter and 31.30% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -57.60% over the past 5 years.
RNA Dividends
Avidity Biosciences Inc is expected to release its next earnings report between May 07 and May 13 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Avidity Biosciences Inc (NASDAQ:RNA)’s Major holders
Insiders own 6.41% of the company shares, while shares held by institutions stand at 85.40% with a share float percentage of 91.26%. Investors are also buoyed by the number of investors in a company, with Avidity Biosciences Inc having a total of 209 institutions that hold shares in the company. The top two institutional holders are FMR, LLC with over 10.62 million shares worth more than $117.81 million. As of Jun 29, 2023, FMR, LLC held 14.34% of shares outstanding.
The other major institutional holder is RTW Investments LP, with the holding of over 6.69 million shares as of Jun 29, 2023. The firm’s total holdings are worth over $74.19 million and represent 9.03% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Price (T.Rowe) New Horizons Fund. As of Aug 30, 2023, the former fund manager holds about 6.23% shares in the company for having 4.62 million shares of worth $34.91 million while later fund manager owns 3.36 million shares of worth $37.23 million as of Jun 29, 2023, which makes it owner of about 4.53% of company’s outstanding stock.
