Q1 EPS Estimate for Avidity Biosciences Decreased by Analyst

Avidity Biosciences, Inc. (NASDAQ:RNA) – Stock analysts at Leerink Partnrs reduced their Q1 2025 earnings estimates for Avidity Biosciences in a research report issued on Monday, January 20th. Leerink Partnrs analyst J. Schwartz now forecasts that the biotechnology company will post earnings of ($0.88) per share for the quarter, down from their prior forecast of ($0.84). The consensus estimate for Avidity Biosciences’ current full-year earnings is ($2.89) per share. Leerink Partnrs also issued estimates for Avidity Biosciences’ Q2 2025 earnings at ($0.93) EPS, Q3 2025 earnings at ($0.99) EPS, Q4 2025 earnings at ($1.05) EPS, FY2025 earnings at ($3.84) EPS and FY2026 earnings at ($4.82) EPS.

A number of other analysts also recently issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $67.00 price target on shares of Avidity Biosciences in a report on Tuesday. Needham & Company LLC reissued a “buy” rating and set a $60.00 target price on shares of Avidity Biosciences in a research note on Wednesday, November 13th. Chardan Capital restated a “buy” rating and issued a $65.00 price target on shares of Avidity Biosciences in a research note on Wednesday, November 13th. HC Wainwright reiterated a “buy” rating and set a $72.00 price target on shares of Avidity Biosciences in a research report on Friday, January 10th. Finally, TD Cowen boosted their price objective on Avidity Biosciences from $56.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Avidity Biosciences presently has an average rating of “Buy” and a consensus target price of $65.80.

Avidity Biosciences Trading Down 2.5 %

Avidity Biosciences stock opened at $30.08 on Wednesday. The firm has a market cap of $3.59 billion, a PE ratio of -10.44 and a beta of 0.99. The stock’s 50 day simple moving average is $34.78 and its two-hundred day simple moving average is $41.17. Avidity Biosciences has a 12 month low of $9.93 and a 12 month high of $56.00.

Avidity Biosciences (NASDAQ:RNA) last released its quarterly earnings data on Thursday, November 7th. The biotechnology company reported ($0.65) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.14. Avidity Biosciences had a negative return on equity of 27.66% and a negative net margin of 2,772.45%. The business had revenue of $2.34 million during the quarter, compared to analyst estimates of $7.09 million.

Institutional Trading of Avidity Biosciences

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. American Century Companies Inc. grew its stake in shares of Avidity Biosciences by 18.5% in the 2nd quarter. American Century Companies Inc. now owns 164,631 shares of the biotechnology company’s stock valued at $6,725,000 after buying an additional 25,663 shares during the period. Amalgamated Bank grew its position in Avidity Biosciences by 39.0% in the second quarter. Amalgamated Bank now owns 3,497 shares of the biotechnology company’s stock worth $143,000 after acquiring an additional 982 shares during the period. Public Employees Retirement Association of Colorado purchased a new position in Avidity Biosciences in the second quarter worth approximately $319,000. Sei Investments Co. raised its position in Avidity Biosciences by 19.3% in the second quarter. Sei Investments Co. now owns 43,721 shares of the biotechnology company’s stock valued at $1,786,000 after purchasing an additional 7,086 shares during the period. Finally, Xponance Inc. purchased a new stake in Avidity Biosciences in the second quarter valued at $262,000.

Insider Buying and Selling

In other Avidity Biosciences news, Director Arthur A. Levin sold 3,323 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $42.12, for a total value of $139,964.76. Following the completion of the sale, the director now owns 14,830 shares in the company, valued at approximately $624,639.60. This represents a 18.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Teresa Mccarthy sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $41.14, for a total value of $1,028,500.00. Following the transaction, the insider now owns 94,018 shares in the company, valued at approximately $3,867,900.52. This represents a 21.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 133,071 shares of company stock worth $4,679,174. 3.68% of the stock is owned by corporate insiders.

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.