Avidity Biosciences Inc (NASDAQ:RNA)’s traded shares stood at 0.77 million during the last session, with the company’s beta value hitting 0.89. At the close of trading, the stock’s price was $47.30, to imply an increase of 0.53% or $0.25 in intraday trading. The RNA share’s 52-week high remains $49.41, putting it -4.46% down since that peak but still an impressive 89.81% since price per share fell to its 52-week low of $4.82. The company has a valuation of $5.54B, with an average of 1.98 million shares in intraday trading volume over the past 10 days and average of 1.45 million shares over the past 3 months.
Analysts have given a consensus recommendation of Buy for Avidity Biosciences Inc (RNA), translating to a mean rating of 1.09. Of 6 analyst(s) looking at the stock, 0 analyst(s) give RNA a Sell rating. 1 of those analysts rate the stock as Overweight while 0 advise Hold as 5 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at -0.72.
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Avidity Biosciences Inc (NASDAQ:RNA) trade information
After registering a 0.53% upside in the last session, Avidity Biosciences Inc (RNA) has traded red over the past five days. The 5-day price performance for the stock is 11.74%, and 16.05% over 30 days. With these gigs, the year-to-date price performance is 422.65%. Short interest in Avidity Biosciences Inc (NASDAQ:RNA) saw shorts transact 11.98 million shares and set a 9.6 days time to cover.
The extremes give us $50 and $59 for target low and target high price respectively. As such, RNA has been trading -24.74% off suggested target high and -5.71% from its likely low.
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 92.04% up over the last 6 months, with its year-to-date growth rate lower than industry average at -3.44% against 17.60%. Revenue is forecast to shrink -1.40% this quarter before jumping 3.80% for the next one. The rating firms project that company’s revenue will grow 18.60% compared to the previous financial year.
Revenue forecast for the current quarter as set by 8 analysts is 4.27M. Meanwhile, for the current quarter, a total of 8 analyst(s) estimate revenue growth to 2.39M.Earnings reports from the last fiscal year show that sales brought in 1.84M and 2.19M respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 132.10% before jumping 9.00% in the following quarter.
RNA Dividends
Avidity Biosciences Inc has its next earnings report out on 2024-Nov-06. 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 (NASDAQ:RNA)’s Major holders
Avidity Biosciences Inc insiders hold 4.88% of total outstanding shares, with institutional holders owning 97.10% of the shares at 102.08% float percentage. In total, 97.10% institutions holds shares in the company, led by FMR LLC. As of 2024-06-30, the company held over 16.16 million shares (or 18.5285% of shares), all amounting to roughly $660.1 million.
The next major institution holding the largest number of shares is PRICE T ROWE ASSOCIATES INC /MD/ with 10.92 million shares, or about 12.5173% of shares outstanding. As of the market price on 2024-06-30, these shares were worth $445.94 million.
