Avidity Biosciences (RNA) Projected to Post Earnings on Wednesday

Avidity Biosciences (NASDAQ:RNA - Get Free Report) is projected to issue its quarterly earnings data before the market opens on Wednesday, February 26th. Analysts expect the company to announce earnings of ($0.76) per share and revenue of $1.74 million for the quarter.

Avidity Biosciences Price Performance

RNA traded down $1.41 during trading on Friday, reaching $31.12. 1,425,800 shares of the stock traded hands, compared to its average volume of 1,332,481. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of -10.81 and a beta of 1.00. Avidity Biosciences has a fifty-two week low of $13.73 and a fifty-two week high of $56.00. The stock's 50-day simple moving average is $31.25 and its two-hundred day simple moving average is $39.45.

Insider Buying and Selling

In related news, Director Arthur A. Levin sold 1,872 shares of the business's stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $28.60, for a total transaction of $53,539.20. Following the transaction, the director now directly owns 12,958 shares in the company, valued at $370,598.80. The trade was a 12.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Teresa Mccarthy sold 25,000 shares of the business's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $33.26, for a total value of $831,500.00. Following the transaction, the insider now owns 94,018 shares in the company, valued at $3,127,038.68. This represents a 21.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 129,138 shares of company stock valued at $4,229,012. Insiders own 3.68% of the company's stock.

Analysts Set New Price Targets

RNA has been the subject of a number of research reports. Royal Bank of Canada reissued an "outperform" rating and set a $67.00 price objective on shares of Avidity Biosciences in a research report on Tuesday, January 21st. Needham & Company LLC reaffirmed a "buy" rating and issued a $60.00 price target on shares of Avidity Biosciences in a research report on Wednesday, November 13th. HC Wainwright reaffirmed a "buy" rating and issued a $72.00 price target on shares of Avidity Biosciences in a research report on Friday, January 10th. Finally, Chardan Capital reaffirmed a "buy" rating and issued a $65.00 price target on shares of Avidity Biosciences in a research report on Wednesday, November 13th. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Avidity Biosciences presently has a consensus rating of "Buy" and a consensus price target of $65.80.

Avidity Biosciences Company Profile

Avidity Biosciences, Inc, a biopharmaceutical company, engages in the delivery of RNA therapeutics. It develops antibody oligonucleotide conjugates (AOC) that are designed to treat diseases previously untreatable with RNA therapeutics. The company's lead product candidate AOC 1001 for the treatment of myotonic dystrophy type 1, a rare monogenic muscle disease that is in phase 1/2 clinical trial.