Avidity Biosciences Inc (NASDAQ:RNA)’s traded shares stood at 1.85 million during the last session, with the company’s beta value hitting 0.73. At the close of trading, the stock’s price was $24.67, to imply an increase of 2.58% or $0.62 in intraday trading. The RNA share’s 52-week high remains $26.24, putting it -6.36% down since that peak but still an impressive 80.46% since price per share fell to its 52-week low of $4.82. The company has a valuation of $1.97B, with an average of 1.44 million shares in intraday trading volume over the past 10 days and average of 1.20 million shares over the past 3 months.
Avidity Biosciences Inc (NASDAQ:RNA) trade information
After registering a 2.58% upside in the last session, Avidity Biosciences Inc (RNA) has traded red over the past five days. The stock hit a weekly high of 25.61, jumping 2.58% in its intraday price action. The 5-day price performance for the stock is 1.77%, and 61.14% over 30 days. With these gigs, the year-to-date price performance is 172.60%. Short interest in Avidity Biosciences Inc (NASDAQ:RNA) saw shorts transact 7.77 million shares and set a 8.24 days time to cover.
Avidity Biosciences Inc (RNA) estimates and forecasts
Looking at statistics comparing Avidity Biosciences Inc share performance against respective industry, we note that the company has underperformed competitors. Avidity Biosciences Inc (RNA) shares are 286.68% up over the last 6 months, with its year-to-date growth rate lower than industry average at -5.50% against 12.60%. Revenue is forecast to shrink -5.40% this quarter before falling -18.20% for the next one. The rating firms project that company’s revenue will grow 7.10% compared to the previous financial year.
Revenue forecast for the current quarter as set by 7 analysts is $2.93 million. Meanwhile, for the quarter ending Jun 2024, a total of 7 analyst(s) estimate revenue growth to $2.81 million.Earnings reports from the last fiscal year show that sales brought in $2.23 million and $2.14 million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 31.20% before jumping 31.30% in the following quarter.
RNA Dividends
Avidity Biosciences Inc has its next earnings report out between May 07 and May 13. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Avidity Biosciences Inc has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.
Avidity Biosciences Inc (NASDAQ:RNA)’s Major holders
Avidity Biosciences Inc insiders hold 6.41% of total outstanding shares, with institutional holders owning 85.40% of the shares at 91.26% float percentage. In total, 85.40% institutions holds shares in the company, led by FMR, LLC. As of Jun 29, 2023, the company held over 10.62 million shares (or 14.34% of shares), all amounting to roughly $117.81 million.
The next major institution holding the largest number of shares is RTW Investments LP with 6.69 million shares, or about 9.03% of shares outstanding. As of the market price on Jun 29, 2023, these shares were worth $74.19 million.
We also have SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Price (T.Rowe) New Horizons Fund as the top two Mutual Funds with the largest holdings of the Avidity Biosciences Inc (RNA) shares. Going by data provided on Aug 30, 2023, SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF holds roughly 4.62 million shares. This is just over 6.23% of the total shares, with a market valuation of $34.91 million. Data from the same date shows that the other fund manager holds a little less at 3.36 million, or 4.53% of the shares, all valued at about 37.23 million.
