Avidity Biosciences (RNA) to Release Quarterly Earnings on Wednesday

Avidity Biosciences (NASDAQ:RNA) is expected to announce its earnings results before the market opens on Wednesday, February 26th. Analysts expect the company to announce earnings of ($0.76) per share and revenue of $1.74 million for the quarter.

Avidity Biosciences Stock Down 1.0 %

Shares of NASDAQ:RNA opened at $32.00 on Wednesday. Avidity Biosciences has a 12-month low of $13.68 and a 12-month high of $56.00. The stock has a market cap of $3.82 billion, a PE ratio of -11.11 and a beta of 1.00. The business has a 50 day moving average of $31.35 and a 200-day moving average of $39.55.

Insider Activity at Avidity Biosciences

In other Avidity Biosciences news, insider Kathleen P. Gallagher sold 5,875 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $32.16, for a total transaction of $188,940.00. Following the completion of the transaction, the insider now directly owns 50,554 shares in the company, valued at $1,625,816.64. The trade was a 10.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Arthur A. Levin sold 1,872 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $28.60, for a total transaction of $53,539.20. Following the transaction, the director now owns 12,958 shares of the company’s stock, valued at approximately $370,598.80. This represents a 12.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 129,138 shares of company stock worth $4,229,012. Company insiders own 3.68% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RNA. HC Wainwright restated a “buy” rating and set a $72.00 price objective on shares of Avidity Biosciences in a report on Friday, January 10th. Chardan Capital restated a “buy” rating and set a $65.00 price objective on shares of Avidity Biosciences in a report on Wednesday, November 13th. Needham & Company LLC restated a “buy” rating and set a $60.00 price objective on shares of Avidity Biosciences in a report on Wednesday, November 13th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $67.00 price objective on shares of Avidity Biosciences in a report on Tuesday, January 21st. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $65.80.

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.