The Insider Activity Of Avidity Biosciences Inc. (RNA) Should Not Be Ignored


As of Friday close, Avidity Biosciences Inc.’s (NASDAQ:RNA) stock was down -$0.23, moving down -1.11 percent to $20.51. The average number of shares traded per day over the past five days has been 1,397,280 shares. 2 times new highs have been achieved over the past 5 days, with a -$0.02 fall in that time frame. In the last twenty days, the average volume was 1,047,725, while in the previous 50 days, it was 876,124.

Since last month, RNA stock retreated -16.96%. Shares of the company fell to $19.74 on 03/10/23, the lowest level in the past month. A 52-week high of $25.74 was reached on 02/17/23 after having rallying from a 52-week low of $9.83. Since the beginning of this year, RNA’s stock price has dropped by -7.57% or -$1.68, and marked a new high 11 times. However, the stock has declined by -20.32% since its 52-week high.

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RNA stock investors should be aware that Avidity Biosciences Inc. (RNA) stock had its last reported insider trading activity 3 days ago on Mar 15. LEVIN ARTHUR A, the Director of the company, disposed of 100 shares for $22.01 on Mar 15. It resulted in a $2,201 divestment by the insider. LEVIN ARTHUR A sold 10,000 shares at an average price of $23.66 on Feb 14. The insider now owns 19,330 shares following the transaction. On Feb 03, President and CEO Boyce Sarah sold 3,221 shares at $24.26 apiece. The transaction was valued at $78,141.

Financial Health

In the three months ended December 30, Avidity Biosciences Inc.’s quick ratio stood at 12.00, while its current ratio was 12.00, showing that the company is able to pay off its debt. Based on annual data, RNA earned $188.14 million in gross profit and brought in $9.22 million in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -30.90%. Return on equity (ROE) for the past 12 months was -40.80%.

According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. RNA’s revenue rose 33.21% to $2.48 million during the quarter, while net income inched up to $2.77 million. While analysts expected Avidity Biosciences Inc. to report -$0.89 quarterly earnings, the actual figure was -$0.88 per share, beating the consensus estimate by 1.10%. During the quarter, the company generated -$53.64 million in EBITDA. The liabilities of Avidity Biosciences Inc. were 60.73 million at the end of its most recent quarter ended December 30, and its total debt was $10.69 million. The value of shareholders’ equity is $70.81 million.

Technical Picture

This quick technical analysis looks at Avidity Biosciences Inc.’s (RNA) price momentum. With a historical volatility rate of 43.98%, the RSI 9-day stood at 35.77% on 17 March.

With respect to its five-day moving average, the current Avidity Biosciences Inc. price is down by -0.10% percent or -$0.02. At present, RNA shares trade -15.00% below its 20-day simple moving average and +44.13% percent above its 100-day simple moving average. However, the stock is currently trading approximately +4.11% above its SMA50 and +47.24% above its SMA200.

Stochastic coefficient K was 18.97% and Stochastic coefficient D was 25.28%, while ATR was 1.27. Given the Stochastic reading of 13.65% for the 14-day period, the RSI (14) reading has been calculated as 40.43%. As of today, the MACD Oscillator reading stands at -0.52, while the 14-day reading stands at -1.39.

With a median target price of $35.00, the current consensus forecast for the stock is $27.00 – $71.00. Based on these forecasts, analysts predict Avidity Biosciences Inc. (RNA) will achieve an average price target of $43.29.


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