Avidity Biosciences (RNA) Stock Price, News & Analysis

Company Overview

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. Its other products in pipeline include AOC 1044 for the treatment of duchenne muscular dystrophy, which is under phase 1/2 clinical development trial; and AOC 1020 to treat facioscapulohumeral muscular dystrophy that is in phase 1/2 clinical trial. The company is developing products for rare skeletal muscle and rare cardiac diseases. Avidity Biosciences, Inc. was incorporated in 2012 and is headquartered in San Diego, California.

Key Stats

• Today's Range: $41.80 to $43.35
• 50-Day Range: $41.35 to $52.50
• 52-Week Range: $5.97 to $56.00
• Volume: 123,452 shs
• Average Volume: 1.31 million shs
• Market Capitalization: $5.16 billion
• P/E Ratio: N/A
• Dividend Yield: N/A
• Price Target: $63.22
• Consensus Rating: Buy

Avidity Biosciences Stock Analysis - MarketRank™

Avidity Biosciences scored higher than 44% of companies evaluated by MarketBeat, and ranked 606th out of 952 stocks in the medical sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 4.5 / 5
• Analyst Rating: Buy

Consensus Rating

Avidity Biosciences has received a consensus rating of Buy. The company's average rating score is 3.00, and is based on 9 buy ratings, no hold ratings, and no sell ratings.

Amount of Analyst Coverage

Avidity Biosciences has been the subject of 7 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

Earnings and Valuation

• Score: 0.0 / 5
• Proj. Earnings Growth: Decreasing

Earnings Growth

Earnings for Avidity Biosciences are expected to decrease in the coming year, from ($2.84) to ($3.17) per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Avidity Biosciences is -14.83, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

Price to Earnings Ratio vs. Sector

The P/E ratio of Avidity Biosciences is -14.83, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

Price to Book Value per Share Ratio

Avidity Biosciences has a P/B Ratio of 3.39. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

Short Interest

• Score: 1.0 / 5
• Short Interest Level: Bearish

Percentage of Shares Shorted

12.29% of the outstanding shares of Avidity Biosciences have been sold short.

Short Interest Ratio / Days to Cover

Avidity Biosciences has a short interest ratio ("days to cover") of 11.5, which indicates bearish sentiment.

Change versus previous month

Short interest in Avidity Biosciences has recently decreased by 1.48%, indicating that investor sentiment is improving.

Dividend

• Score: 0.0 / 5
• Dividend Strength: N/A

Dividend Yield

Avidity Biosciences does not currently pay a dividend.

Dividend Growth

Avidity Biosciences does not have a long track record of dividend growth.

Sustainability and ESG

• Score: N/A
• Environmental Score: N/A

Percentage of Shares Shorted

12.29% of the outstanding shares of Avidity Biosciences have been sold short.

Short Interest Ratio / Days to Cover

Avidity Biosciences has a short interest ratio ("days to cover") of 11.5, which indicates bearish sentiment.

Change versus previous month

Short interest in Avidity Biosciences has recently decreased by 1.48%, indicating that investor sentiment is improving.

News and Social Media

• Score: 1.8 / 5
• News Sentiment: 0.21

News Sentiment

Avidity Biosciences has a news sentiment score of 0.21. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.48 average news sentiment score of Medical companies.

News Coverage This Week

MarketBeat has tracked 17 news articles for Avidity Biosciences this week, compared to 6 articles on an average week.

Search Interest

Only 5 people have searched for RNA on MarketBeat in the last 30 days. This is a decrease of -17% compared to the previous 30 days.

MarketBeat Follows

Only 3 people have added Avidity Biosciences to their MarketBeat watchlist in the last 30 days. This is a decrease of -25% compared to the previous 30 days.

Company Ownership

• Score: 0.8 / 5
• Insider Trading: Selling Shares

Insider Buying vs. Insider Selling

In the past three months, Avidity Biosciences insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $6,724,557.00 in company stock.

Percentage Held by Insiders

Only 3.68% of the stock of Avidity Biosciences is held by insiders.

RNA Stock Analysis - Frequently Asked Questions

How have RNA shares performed this year?

Avidity Biosciences' stock was trading at $9.05 on January 1st, 2024. Since then, RNA shares have increased by 371.9% and is now trading at $42.71.
View the best growth stocks for 2024 here.

How were Avidity Biosciences' earnings last quarter?

Avidity Biosciences, Inc. (NASDAQ:RNA) released its earnings results on Thursday, November, 7th. The biotechnology company reported ($0.65) earnings per share for the quarter, topping analysts' consensus estimates of ($0.79) by $0.14. The biotechnology company earned $2.34 million during the quarter, compared to analysts' expectations of $7.09 million. Avidity Biosciences had a negative trailing twelve-month return on equity of 27.66% and a negative net margin of 2,772.45%.

When did Avidity Biosciences IPO?

Avidity Biosciences (RNA) raised $150 million in an initial public offering on Friday, June 12th 2020. The company issued 10,000,000 shares at a price of $14.00-$16.00 per share. Cowen, SVB Leerink, Credit Suisse and Wells Fargo Securities served as the underwriters for the IPO.

Who are Avidity Biosciences' major shareholders?

Avidity Biosciences' top institutional investors include FMR LLC (14.12%), RTW Investments LP (6.82%), Wellington Management Group LLP (5.89%) and RA Capital Management L.P. (5.28%). Insiders that own company stock include Sarah Boyce, Michael F Maclean, Teresa Mccarthy, W Michael Flanagan, Arthur A Levin and Tamar Thompson.
View institutional ownership trends.

How do I buy shares of Avidity Biosciences?

Shares of RNA stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Avidity Biosciences own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Avidity Biosciences investors own include NVIDIA (NVDA), Meta Platforms (META), Advanced Micro Devices (AMD), Broadcom (AVGO), Eli Lilly and Company (LLY), Netflix (NFLX) and Palo Alto Networks (PANW).

Company Calendar

• Last Earnings: 11/07/2024
• Today: 11/22/2024
• Fiscal Year End: 12/31/2024
• Next Earnings (Estimated): 2/26/2025

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Medical
• Industry: Pharmaceutical preparations
• Sub-Industry: Pharmaceutical Products
• Current Symbol: NASDAQ:RNA
• CUSIP: N/A
• CIK: 1574111
• Web: www.aviditybiosciences.com
• Phone: 858-401-7900
• Fax: N/A
• Employees: 190
• Year Founded: N/A

Price Target and Rating

• Average Stock Price Target: $63.22
• High Stock Price Target: $96.00
• Low Stock Price Target: $45.00
• Potential Upside/Downside: +47.6%
• Consensus Rating: Buy
• Rating Score (0-4): 3.00
• Research Coverage: 9 Analysts

Profitability

• EPS (Most Recent Fiscal Year): ($2.88)
• Trailing P/E Ratio: N/A
• Forward P/E Ratio: N/A
• P/E Growth: N/A
• Net Income: $-212,220,000.00
• Net Margins: -2,772.45%
• Pretax Margin: -2,772.45%
• Return on Equity: -27.66%
• Return on Assets: -24.56%

Debt

• Debt-to-Equity Ratio: N/A
• Current Ratio: 17.76
• Quick Ratio: 17.76

Sales & Book Value

• Annual Sales: $9.56 million
• Price / Sales: 534.40
• Cash Flow: N/A
• Price / Cash Flow: N/A
• Book Value: $12.60 per share
• Price / Book: 3.40

Miscellaneous

• Outstanding Shares: 119,310,000
• Free Float: 114,918,000
• Market Cap: $5.11 billion
• Optionable: Optionable
• Beta: 0.91