In the last trading session, 1.83 million shares of the Avidity Biosciences Inc (NASDAQ:RNA) were traded, and its beta was 1.05. Most recently the company’s share price was $26.91, and it changed around $1.33 or 5.20% from the last close, which brings the market valuation of the company to $3.23B. RNA currently trades at a discount to its 52-week high of $56.00, offering almost -108.1% off that amount. The share price’s 52-week low was $21.51, which indicates that the current value has risen by an impressive 20.07% since then. We note from Avidity Biosciences Inc’s average daily trading volume that its 10-day average is 2.25 million shares, with the 3-month average coming to 1.51 million.
Avidity Biosciences Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.07. If we narrow it down even further, the data shows that 0 out of 13 analysts rate the stock as a Sell; another 5 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 -0.88 for the current quarter.
Avidity Biosciences Inc (NASDAQ:RNA) trade information
Instantly RNA has showed a green trend with a performance of 5.20% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 27.83 on recent trading dayincreased the stock’s daily price by 3.31%. The company’s shares are currently down -7.46% year-to-date, but still up 5.61% over the last five days. On the other hand, Avidity Biosciences Inc (NASDAQ:RNA) is -13.50% down in the 30-day period. We can see from the shorts that 17.57 million shares have been sold at a short interest cover period of 12.02 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 50.62% 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
The year-over-year growth rate is expected to be -23.41%, down from the previous year.
Consensus estimates provided by 8 financial analysts predict the company will bring in an average of 2.62M in revenue for the current quarter. 8 analysts expect Avidity Biosciences Inc to make 2.51M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 3.54M and 2.04M respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -25.92%. Forecasts for the next quarter put sales growth at 22.77%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -34.37%. Avidity Biosciences Inc earnings are expected to increase by -32.24% in 2025, but the outlook is positive 0.06% per year for the next five years.
RNA Dividends
Avidity Biosciences Inc’s next quarterly earnings report is expected to be released on 2025-Feb-26.
Avidity Biosciences Inc (NASDAQ:RNA)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 5.03% of Avidity Biosciences Inc shares, and 107.42% of them are in the hands of institutional investors. The stock currently has a share float of 113.11%. Avidity Biosciences Inc stock is held by 335.0 institutions, with FMR LLC being the largest institutional investor. By 2024-06-30, it held 15.1121% 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.
T. Rowe Price New Horizons Fund, Inc. and VANGUARD INDEX FUNDS-Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Dec 31, 2024 . The former held 4.43 shares worth $119.15 million, making up 3.68% of all outstanding shares. On the other hand, VANGUARD INDEX FUNDS-Vanguard Total Stock Market Index Fund held roughly 3.5 shares worth around $94.23 million, which represents about 2.91% of the total shares outstanding.
