In the last trading session, 1.47 million shares of the Avidity Biosciences Inc (NASDAQ:RNA) were traded, and its beta was 0.89. Most recently the company’s share price was $36.85, and it changed around -$1.42 or -3.71% from the last close, which brings the market valuation of the company to $4.56B. RNA currently trades at a discount to its 52-week high of $56.00, offering almost -51.97% off that amount. The share price’s 52-week low was $6.79, which indicates that the current value has risen by an impressive 81.57% since then. We note from Avidity Biosciences Inc’s average daily trading volume that its 10-day average is 1.09 million shares, with the 3-month average coming to 1.26 million.
Avidity Biosciences Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.08. If we narrow it down even further, the data shows that 0 out of 12 analysts rate the stock as a Sell; another 4 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.
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Avidity Biosciences Inc (NASDAQ:RNA) trade information
Instantly RNA has showed a red trend with a performance of -3.71% 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 41.46 on recent trading dayincreased the stock’s daily price by 11.12%. The company’s shares are currently up 307.18% year-to-date, but still down -10.77% over the last five days. On the other hand, Avidity Biosciences Inc (NASDAQ:RNA) is -22.44% down in the 30-day period. We can see from the shorts that 14.52 million shares have been sold at a short interest cover period of 13.94 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 32.39% 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 35.93 percent over the past six months and at a 2.41% annual growth rate that is well below the industry average of 17.10%.
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 January.
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 106.49% of them are in the hands of institutional investors. The stock currently has a share float of 111.89%. 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.
