Avidity Biosciences, Inc. (NASDAQ:RNA – Get Free Report) Director Arthur A. Levin sold 5,000 shares of the stock in a transaction on Monday, October 21st. The shares were sold at an average price of $46.63, for a total value of $233,150.00. Following the completion of the transaction, the director now owns 14,830 shares of the company’s stock, valued at $691,522.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Avidity Biosciences Trading Down 4.2 %
NASDAQ RNA traded down $1.98 during trading hours on Wednesday, hitting $45.40. The company’s stock had a trading volume of 793,114 shares, compared to its average volume of 1,336,760. The company has a market capitalization of $4.98 billion, a PE ratio of -15.77 and a beta of 0.89. Avidity Biosciences, Inc. has a 52 week low of $4.82 and a 52 week high of $50.78. The company’s 50-day simple moving average is $44.42 and its two-hundred day simple moving average is $37.72.
Avidity Biosciences (NASDAQ:RNA – Get Free Report) last announced its earnings results on Friday, August 9th. The biotechnology company reported ($0.65) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.76) by $0.11. The company had revenue of $2.05 million for the quarter, compared to analysts’ expectations of $7.09 million. Avidity Biosciences had a negative return on equity of 32.89% and a negative net margin of 2,381.82%. Research analysts anticipate that Avidity Biosciences, Inc. will post -3.01 EPS for the current fiscal year.
Institutional Inflows and Outflows
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on RNA shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $96.00 price target on shares of Avidity Biosciences in a research note on Monday, September 16th. Evercore ISI lowered their target price on Avidity Biosciences from $54.00 to $53.00 and set an “outperform” rating for the company in a report on Monday, August 26th. The Goldman Sachs Group began coverage on Avidity Biosciences in a report on Tuesday, September 24th. They set a “buy” rating and a $59.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $60.00 price objective on shares of Avidity Biosciences in a research note on Tuesday, August 13th. Finally, Barclays initiated coverage on shares of Avidity Biosciences in a research note on Wednesday, August 28th. They set an “overweight” rating and a $63.00 target price on the stock. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $62.67.
Check Out Our Latest Analysis on Avidity Biosciences
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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