In the last trading session, 1.31 million shares of the Avidity Biosciences Inc (NASDAQ:RNA) were traded, and its beta was 0.77. Most recently the company’s share price was $26.87, and it changed around $0.47 or 1.78% from the last close, which brings the market valuation of the company to $2.14B. RNA currently trades at a discount to its 52-week high of $26.62, offering almost 0.93% off that amount. The share price’s 52-week low was $4.82, which indicates that the current value has risen by an impressive 82.06% since then. We note from Avidity Biosciences Inc’s average daily trading volume that its 10-day average is 1.15 million shares, with the 3-month average coming to 1.22 million.
Avidity Biosciences Inc (NASDAQ:RNA) trade information
Instantly RNA has showed a green trend with a performance of 1.78% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently up 196.91% year-to-date, but still up 15.87% over the last five days. On the other hand, Avidity Biosciences Inc (NASDAQ:RNA) is 33.62% up in the 30-day period. We can see from the shorts that 8.62 million shares have been sold at a short interest cover period of 5.79 day(s).
Avidity Biosciences Inc (RNA) estimates and forecasts
Avidity Biosciences Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 321.16 percent over the past six months and at a -5.50% annual growth rate that is well below the industry average of 13.60%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -5.40% in revenue this quarter, and will report a decrease of -18.20% in the next quarter. The year-over-year growth rate is expected to be 7.10%, up from the previous year.
Consensus estimates provided by 7 financial analysts predict the company will bring in an average of $2.93 million in revenue for the current quarter. 7 analysts expect Avidity Biosciences Inc to make $2.81 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $2.23 million and $2.14 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 31.20%. Forecasts for the next quarter put sales growth at 31.30%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -57.60%.
RNA Dividends
Avidity Biosciences Inc’s next quarterly earnings report is expected to be released around May 07 and May 13.
Avidity Biosciences Inc (NASDAQ:RNA)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 6.41% of Avidity Biosciences Inc shares, and 85.40% of them are in the hands of institutional investors. The stock currently has a share float of 91.26%. Avidity Biosciences Inc stock is held by 209 institutions, with FMR, LLC being the largest institutional investor. By Jun 29, 2023, it held 14.34% of the shares, which is about 10.62 million shares worth $117.81 million.
RTW Investments LP, with 9.03% or 6.69 million shares worth $74.19 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.
SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Price (T.Rowe) New Horizons Fund were the top two Mutual Funds as of Aug 30, 2023. The former held 4.62 million shares worth $34.91 million, making up 6.23% of all outstanding shares. On the other hand, Price (T.Rowe) New Horizons Fund held roughly 3.36 million shares worth around $37.23 million, which represents about 4.53% of the total shares outstanding.
