Avidity Biosciences, Inc. (NASDAQ:RNA – Get Free Report) Director Arthur A. Levin sold 5,000 shares of the company’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $45.01, for a total transaction of $225,050.00. Following the completion of the sale, the director now directly owns 14,830 shares in the company, valued at approximately $667,498.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Avidity Biosciences Price Performance
Shares of NASDAQ RNA traded down $0.34 during mid-day trading on Tuesday, hitting $45.96. The company’s stock had a trading volume of 1,090,305 shares, compared to its average volume of 1,338,734. The company’s fifty day simple moving average is $35.48 and its 200-day simple moving average is $24.86. Avidity Biosciences, Inc. has a one year low of $4.82 and a one year high of $47.05. The stock has a market cap of $4.40 billion, a price-to-earnings ratio of -15.77 and a beta of 0.90.
Avidity Biosciences (NASDAQ:RNA – Get Free Report) last released its quarterly earnings data on Wednesday, May 15th. The biotechnology company reported ($0.79) earnings per share for the quarter, topping the consensus estimate of ($0.81) by $0.02. Avidity Biosciences had a negative net margin of 2,103.78% and a negative return on equity of 37.98%. The business had revenue of $3.54 million for the quarter, compared to analyst estimates of $7.09 million. On average, sell-side analysts predict that Avidity Biosciences, Inc. will post -3.15 EPS for the current year.
Institutional Inflows and Outflows
Wall Street Analyst Weigh In
RNA has been the topic of a number of research analyst reports. Bank of America increased their price objective on shares of Avidity Biosciences from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, June 13th. Evercore ISI increased their price objective on shares of Avidity Biosciences from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, June 12th. Chardan Capital increased their price objective on shares of Avidity Biosciences from $33.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, June 12th. Finally, Needham & Company LLC reissued a “buy” rating and set a $35.00 price objective on shares of Avidity Biosciences in a report on Monday, June 10th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Avidity Biosciences presently has an average rating of “Buy” and a consensus target price of $44.29.
Get Our Latest Stock Analysis on RNA
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.
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