Avidity Biosciences Inc. (NASDAQ:RNA) saw a downside of -0.12% to close Friday at $8.24 after subtracting -$0.01 on the day. The 5-day average trading volume is 587,540 shares of the company’s common stock. It has gained $8.87 in the past week and touched a new high 1 time within the past 5 days. An average of 677,495 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 945,430.
RNA’s 1-month performance is -18.33% or -$2.50 on its low of $8.07 reached on 08/18/23. The company’s shares have touched a 52-week low of $8.20 and high of $25.74, with the stock’s rally to the 52-week high happening on 02/17/23. YTD, RNA has lost -62.87% or -$13.95 and has reached a new high 11 times. However, the current price is down -67.99% from the 52-week high price.
Insider Transactions
RNA stock investors last saw insider trading activity on Mar 15.LEVIN ARTHUR A (Director) most recently sold 100 shares at $22.01 per share on Mar 15. This transaction cost the insider $2,201. Chief Scientific Officer, LEVIN ARTHUR A, sold 10,000 shares at a price of $23.66 on Feb 14. Then, on Feb 03, President and CEO Boyce Sarah sold 3,221 shares at a price of $24.26 per share. This transaction amounted to $78,141.
Valuation Metrics
RNA stock has a beta of -0.02. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 59.62 while the price-to-book (PB) in the most recent quarter is 1.05.
Avidity Biosciences Inc.’s quick ratio for the period ended June 29 was 13.10, with the current ratio over the same period at 13.10. The trailing 12-month EBITDA margin is -1924.61%. The firm’s gross profit as reported stood at $188.14 million against revenue of $9.22 million.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 2.85% to -$47.03 million, while revenue of -$52.39 million was -11.4% off the previous quarter. Analysts expected RNA to announce -$0.8 per share in earnings in its latest quarter, but it posted -$0.66, representing a 17.50% surprise. EBITDA for the quarter stood at more than -$54.95 million. RNA stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 51.61 million, with total debt at $9.51 million. Shareholders hold equity totaling $74.1 million.
Let’s look briefly at Avidity Biosciences Inc. (RNA) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 18 August was 23.38% to suggest the stock is trending oversold, with historical volatility in this time period at 38.18%.
The stock’s 5-day moving average is $8.47, reflecting a -7.10% or -$0.63 change from its current price. RNA is currently trading -17.85% above its 20-day SMA, -58.34% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -30.52% and SMA200 by-42.30%.
Stochastic %K and %D was 7.91% and 13.50% and the average true range (ATR) pointed at 0.44. The RSI (14) points at 26.65%, while the 14-day stochastic is at 9.62% with the period’s ATR at 0.45. The stock’s 9-day MACD Oscillator is pointing at -0.42 and -0.62 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Avidity Biosciences Inc. (NASDAQ: RNA), Evercore ISI upgraded it to an Outperform rating. They previously had an In-line rating on the stock. Analysts offering their rating for RNA stock have a consensus rating for the stock as Buy. Currently, 0 brokerage advisors rate RNA as a “sell,”, while 0 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 8 have offered a “buy” rating.
What is RNA’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $23.00 and a high of $71.00, with their median price target at $30.00. Looking at these predictions, the average price target given by analysts is for Avidity Biosciences Inc. (RNA) stock is $36.71.
