Avidity Biosciences, Inc. (NASDAQ:RNA – Get Free Report) Director Arthur A. Levin sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $37.59, for a total transaction of $187,950.00. Following the completion of the transaction, the director now owns 14,830 shares of the company’s stock, valued at $557,459.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Avidity Biosciences Trading Down 0.1 %
Shares of RNA stock opened at $38.98 on Monday. The stock’s 50-day moving average price is $28.39 and its 200-day moving average price is $19.96. Avidity Biosciences, Inc. has a 12-month low of $4.82 and a 12-month high of $42.00. The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of -13.22 and a beta of 0.81.
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 (EPS) for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.02. The business had revenue of $3.54 million for the quarter, compared to the consensus estimate of $7.09 million. Avidity Biosciences had a negative return on equity of 37.98% and a negative net margin of 2,103.78%. As a group, research analysts predict that Avidity Biosciences, Inc. will post -3.15 EPS for the current fiscal year.
Institutional Investors Weigh In On Avidity Biosciences
Wall Street Analyst Weigh In
RNA has been the topic of a number of analyst reports. Chardan Capital lifted their target price on shares of Avidity Biosciences from $33.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, June 12th. Bank of America upped their price objective on Avidity Biosciences from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, June 13th. Cantor Fitzgerald assumed coverage on Avidity Biosciences in a research report on Thursday, March 14th. They set an “overweight” rating and a $60.00 target price for the company. Evercore ISI boosted their price target on Avidity Biosciences from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, June 12th. Finally, Needham & Company LLC reaffirmed 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, the company has a consensus rating of “Buy” and a consensus target price of $44.29.
View Our Latest Analysis on RNA
About Avidity Biosciences
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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