In the last trading session, 1.15 million shares of the Avidity Biosciences Inc (NASDAQ:RNA) were traded, and its beta was 0.90. Most recently the company’s share price was $41.35, and it changed around -$0.83 or -1.97% from the last close, which brings the market valuation of the company to $4.16B. RNA currently trades at a discount to its 52-week high of $56.00, offering almost -35.43% off that amount. The share price’s 52-week low was $5.68, which indicates that the current value has risen by an impressive 86.26% since then. We note from Avidity Biosciences Inc’s average daily trading volume that its 10-day average is 1.45 million shares, with the 3-month average coming to 1.30 million.
Avidity Biosciences Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.09. If we narrow it down even further, the data shows that 0 out of 11 analysts rate the stock as a Sell; another 3 rate it as Overweight. Among the rest, 0 recommended RNA as a Hold, whereas 8 deemed it a Buy, and 0 rated it as Underweight. Avidity Biosciences Inc is expected to report earnings per share of -0.75 for the current quarter.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
Avidity Biosciences Inc (NASDAQ:RNA) trade information
Instantly RNA has showed a red trend with a performance of -1.97% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 56.00 on recent trading dayincreased the stock’s daily price by 26.16%. The company’s shares are currently up 356.91% year-to-date, but still down -12.25% over the last five days. On the other hand, Avidity Biosciences Inc (NASDAQ:RNA) is -18.04% down in the 30-day period. We can see from the shorts that 14.66 million shares have been sold at a short interest cover period of 17.7 day(s).
The consensus price target as assigned by Wall Street analysts is $54.5, which translates to bulls needing to increase their stock price by 24.13% from its current value. Analyst projections state that RNA is forecast to be at a low of $50 and a high of $59.
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 41.42 percent over the past six months and at a 0.34% annual growth rate that is well below the industry average of 17.50%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 5.37% in revenue this quarter, and will report an increase of 4.64% in the next quarter. The year-over-year growth rate is expected to be 12.00%, up from the previous year.
Consensus estimates provided by 6 financial analysts predict the company will bring in an average of 2.8M in revenue for the current quarter. 4 analysts expect Avidity Biosciences Inc to make 3.58M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 2.19M and 3.54M respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 27.88%. Forecasts for the next quarter put sales growth at 1.09%.
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 in December.
Avidity Biosciences Inc (NASDAQ:RNA)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 4.83% of Avidity Biosciences Inc shares, and 106.36% of them are in the hands of institutional investors. The stock currently has a share float of 111.75%. Avidity Biosciences Inc stock is held by 335.0 institutions, with FMR LLC being the largest institutional investor. By 2024-06-30, it held 18.5285% of the shares, which is about 16.16 million shares worth $660.1 million.
PRICE T ROWE ASSOCIATES INC /MD/, with 12.5173% or 10.92 million shares worth $445.94 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
