During the recent session, Avidity Biosciences Inc (NASDAQ:RNA)’s traded shares were 0.89 million, with the beta value of the company hitting 0.93. At the last check today, the stock’s price was $45.98, reflecting an intraday gain of 9.81% or $4.11. The 52-week high for the RNA share is $48.80, that puts it down -6.13 from that peak though still a striking 89.52% gain since the share price plummeted to a 52-week low of $4.82. The company’s market capitalization is $4.40B, and the average intraday trading volume over the past 10 days was 1.0 million shares, and the average trade volume was 1.57 million shares over the past three months.
Avidity Biosciences Inc (RNA) received a consensus recommendation of Buy from analysts. That translates to a mean rating of 1.00. 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 1 suggest Overweight, and 5 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 -0.79.
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Avidity Biosciences Inc (NASDAQ:RNA) trade information
Avidity Biosciences Inc (RNA) registered a 9.81% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 9.81% in intraday trading to $45.98, hitting a weekly high. The stock’s 5-day price performance is 11.40%, and it has moved by 3.76% in 30 days. Based on these gigs, the overall price performance for the year is 391.73%. The short interest in Avidity Biosciences Inc (NASDAQ:RNA) is 12.91 million shares and it means that shorts have 6.72 day(s) to cover.
The consensus price target of analysts on Wall Street is $50, which implies an increase of 8.04% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $50 and $50 respectively. As a result, RNA is trading at a discount of -8.74% off the target high and -8.74% 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 up 267.52% during the last six months, with a year-to-date growth rate less than the industry average at -8.25% against 16.60. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -19.70% this quarter and then drop -12.70% in the quarter after that. In the rating firms’ projections, revenue will increase 35.30% compared to the previous financial year.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 2.64M as predicted by 8 analyst(s). Meanwhile, a consensus of 8 analyst(s) estimates revenue growth to 4.51M by the end of current fiscal year. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled 2.14M and 1.84M respectively. In this case, analysts expect current quarter sales to grow by 23.40% and then jump by 145.10% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -57.60%. While earnings are projected to return -6.94% in 2024.
RNA Dividends
Avidity Biosciences Inc is due to release its next quarterly earnings 2024-Aug-09. 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 5.15% of total outstanding shares while institutional holders control 87.66%, with the float percentage being 92.42%. FMR LLC is the largest shareholder of the company, while 238.0 institutions own stock in it. As of 2024-03-31, the company held over 14.24 million shares (or 19.5059% of all shares), a total value of $363.45 million in shares.
The next largest institutional holding, with 7.43 million shares, is of PRICE T ROWE ASSOCIATES INC /MD/’s that is approximately 10.1752% of outstanding shares. At the market price on 2024-03-31, these shares were valued at $189.59 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 Fidelity Growth Company Fund. Data provided on Mar 31, 2024 indicates that Price (T.Rowe) New Horizons Fund owns about 3.62 shares. This amounts to just over 3.79 percent of the company’s overall shares, with a $168.08 million market value. The same data shows that the other fund manager holds slightly less at 3.26, or about 3.41% of the stock, which is worth about $151.3 million.
