The stock of Avidity Biosciences Inc. (NASDAQ:RNA) decreased by -$0.09 on Friday to finish at $8.87, down -1.00 percent. The last five days have seen an average of 731,080 shares of common stock traded. 11 times new highs were reached in the current year, with a fall of -$13.32. The average number of shares traded over the last 20 days was 656,135, while the average volume over the last 50 days totaled 974,174.
RNA stock dropped -19.95% since last month. On 08/11/23, the company’s shares reached a one-month low of $8.73. The stock touched a high of $25.74 on 02/17/23, after rallying from a low of $8.75 in 52 weeks. The price of RNA stock has declined by -60.03% or -$13.32 this year, reaching a new high 11 times. Still, the stock price is down -65.54% from the 52-week high.
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Insider Transactions
RNA stock investors should be aware that Avidity Biosciences Inc. (RNA) stock had its last reported insider trading activity 152 days ago on Mar 15. On Mar 15, Director LEVIN ARTHUR A sold 100 shares at $22.01 each. This transaction resulted in the insider making $2,201. On Feb 14, LEVIN ARTHUR A sold 10,000 shares at a price of US$23.66. After the transaction, the insider now owns 19,330 shares. President and CEO Boyce Sarah had earlier sold 3,221 shares on Feb 03 for $24.26 a share. The transaction was completed for $78,141.
Valuation Metrics
Beta for the stock is -0.07. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 64.74, the price-to-book (PB) ratio of 1.13.
Financial Health
For the three months ended June 29, Avidity Biosciences Inc.’s quick ratio was 13.10, while its current ratio was 13.10, indicating its ability to pay off its debt. Based on annual data, it had gross profit of $188.14 million and revenue of $9.22 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. RNA’s return on assets (ROA) during the last 12 months has been -33.70%. There was a -30.90% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -37.30%.
Earnings Surprise
According to Avidity Biosciences Inc.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $2.32 million, while revenues rose by 6.03% to $2.23 million. It was predicted that Avidity Biosciences Inc.’s quarterly earnings would be -$0.66, but it ended up being -$0.8, beating the consensus by 17.50%. EBITDA was -$54.95 million for the quarter. At the end of Avidity Biosciences Inc.’s most recent quarter ended June 29, its liabilities totaled 51.61 million, while its total debt was $9.51 million. Equity owned by shareholders amounts to $74.1 million.
Technical Picture
Here’s a quick look at Avidity Biosciences Inc.’s (RNA) price momentum from a technical perspective. As of 11 August, the RSI 9-day stood at 33.78%, suggesting the stock is Neutral, with a 43.47% historical volatility rate.
The stochastic %K and %D were 22.80% and 21.07% respectively, while the average true range (ATR) was 0.48. Based on the 14-day stochastic reading of 12.64%, the RSI (14) reading is 33.47%. On the 9-day MACD Oscillator, the stock is at -0.09, and the 14-day reading is at -0.14.
Analyst Ratings
In its most recent analyst report, Evercore ISI raised its rating on Avidity Biosciences Inc. (NASDAQ: RNA) to an Outperform. Prior to this, analysts firm rated the stock as an In-line. Analysts have assigned Avidity Biosciences Inc. (RNA) an Buy rating. RNA is a stock that is recommended for selling by 0 brokerage firms, while 0 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 8 others recommend it as a buy.
What is RNA’s price target for the next 12 months?
The current consensus forecast for the stock is between $23.00 and $71.00, with a median target price of $30.00. In analyzing these forecasts, the average price target given by analysts for Avidity Biosciences Inc. (RNA) is $36.71.
