Cantor Fitzgerald Comments on RNA FY2025 Earnings

Avidity Biosciences, Inc. (NASDAQ:RNA) – Research analysts at Cantor Fitzgerald issued their FY2025 earnings per share (EPS) estimates for Avidity Biosciences in a note issued to investors on Tuesday, January 21st. Cantor Fitzgerald analyst E. Schmidt expects that the biotechnology company will earn ($2.85) per share for the year. The consensus estimate for Avidity Biosciences’ current full-year earnings is ($2.89) per share.

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

Avidity Biosciences Stock Down 2.5 %

NASDAQ:RNA opened at $30.08 on Wednesday. The firm has a market capitalization of $3.59 billion, a PE ratio of -10.44 and a beta of 0.99. Avidity Biosciences has a 12-month low of $9.93 and a 12-month high of $56.00. The firm has a 50-day moving average price of $34.78 and a 200 day moving average price of $41.17.

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

Insider Buying and Selling at Avidity Biosciences

In other Avidity Biosciences news, Director Arthur A. Levin sold 3,323 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $42.12, for a total transaction of $139,964.76. Following the transaction, the director now owns 14,830 shares in the company, valued at approximately $624,639.60. This trade represents a 18.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider W. Michael Flanagan sold 12,742 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $32.66, for a total transaction of $416,153.72. Following the completion of the sale, the insider now directly owns 72,647 shares of the company’s stock, valued at $2,372,651.02. The trade was a 14.92 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 133,071 shares of company stock worth $4,679,174. Company insiders own 3.68% of the company’s stock.

Institutional Trading of Avidity Biosciences

A number of large investors have recently bought and sold shares of the business. American Century Companies Inc. lifted its stake in Avidity Biosciences by 18.5% in the second 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 in the last quarter. Amalgamated Bank lifted its position in Avidity Biosciences by 39.0% in the 2nd quarter. Amalgamated Bank now owns 3,497 shares of the biotechnology company’s stock valued at $143,000 after acquiring an additional 982 shares in the last quarter. Public Employees Retirement Association of Colorado acquired a new position in Avidity Biosciences in the 2nd quarter worth $319,000. Sei Investments Co. increased its holdings in Avidity Biosciences by 19.3% during the 2nd quarter. Sei Investments Co. now owns 43,721 shares of the biotechnology company’s stock worth $1,786,000 after purchasing an additional 7,086 shares in the last quarter. Finally, Xponance Inc. bought a new position in Avidity Biosciences during the 2nd quarter worth about $262,000.

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.