Avidity Biosciences (RNA) Projected to Post Earnings on Thursday

Avidity Biosciences (NASDAQ:RNA - Get Free Report) is anticipated to release its Q1 2025 earnings data before the market opens on Thursday, May 8th. Analysts expect Avidity Biosciences to post earnings of ($0.88) per share and revenue of $2.63 million for the quarter.

Avidity Biosciences (NASDAQ:RNA - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The biotechnology company reported ($0.80) earnings per share for the quarter, missing analysts' consensus estimates of ($0.76) by ($0.04). Avidity Biosciences had a negative net margin of 2,772.45% and a negative return on equity of 27.66%. The business had revenue of $2.97 million for the quarter, compared to the consensus estimate of $1.74 million. On average, analysts expect Avidity Biosciences to post $-3 EPS for the current fiscal year and $-3 EPS for the next fiscal year.

Avidity Biosciences Stock Down 1.5 %

RNA stock traded down $0.49 during midday trading on Friday, reaching $32.20. The company had a trading volume of 1,233,092 shares, compared to its average volume of 1,414,969. The firm has a market capitalization of $3.87 billion, a PE ratio of -11.18 and a beta of 1.01. The stock has a 50 day moving average price of $29.39 and a 200 day moving average price of $34.08. Avidity Biosciences has a fifty-two week low of $21.51 and a fifty-two week high of $56.00.

Insider Activity

In other Avidity Biosciences news, CFO Michael F. Maclean sold 7,935 shares of the company's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $31.06, for a total value of $246,461.10. Following the transaction, the chief financial officer now owns 96,720 shares of the company's stock, valued at approximately $3,004,123.20. This represents a 7.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kathleen P. Gallagher sold 5,875 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $32.16, for a total value of $188,940.00. Following the sale, the insider now directly owns 50,554 shares of the company's stock, valued at approximately $1,625,816.64. This represents a 10.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,678 shares of company stock worth $2,066,377 over the last 90 days. 3.68% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on RNA shares. Bank of America reduced their price objective on Avidity Biosciences from $51.00 to $48.00 and set a "buy" rating for the company in a research report on Monday, March 10th. Scotiabank assumed coverage on shares of Avidity Biosciences in a research report on Friday, March 7th. They set a "sector outperform" rating and a $70.00 price target for the company. Citigroup began coverage on shares of Avidity Biosciences in a research report on Thursday, March 13th. They issued a "buy" rating and a $70.00 price objective on the stock. BMO Capital Markets assumed coverage on shares of Avidity Biosciences in a research note on Wednesday, March 12th. They issued an "outperform" rating and a $72.00 price target on the stock. Finally, Chardan Capital reiterated a "buy" rating and set a $65.00 price objective on shares of Avidity Biosciences in a research report on Monday, March 17th. Thirteen analysts have rated the stock with a buy rating, According to data from MarketBeat, Avidity Biosciences presently has an average rating of "Buy" and a consensus target price of $66.69.

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.