Avidity Biosciences (RNA) Expected to Announce Quarterly Earnings on Thursday

Avidity Biosciences (NASDAQ:RNA - Get Free Report) is expected to be posting its Q1 2025 quarterly earnings results 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 released its earnings results on Thursday, February 27th. The biotechnology company reported ($0.80) EPS for the quarter, missing the consensus estimate 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 Price Performance

NASDAQ RNA traded down $1.71 during trading on Tuesday, hitting $30.57. 190,349 shares of the company's stock traded hands, compared to its average volume of 1,407,572. The stock has a fifty day moving average of $29.45 and a two-hundred day moving average of $33.85. Avidity Biosciences has a 12-month low of $21.51 and a 12-month high of $56.00. The firm has a market cap of $3.68 billion, a P/E ratio of -10.60 and a beta of 1.01.

Insider Buying and Selling at Avidity Biosciences

In other Avidity Biosciences news, CEO Sarah Boyce sold 31,540 shares of the business'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 $979,632.40. Following the sale, the chief executive officer now directly owns 305,871 shares of the company's stock, valued at approximately $9,500,353.26. The trade was a 9.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Kathleen P. Gallagher sold 5,875 shares of Avidity Biosciences stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $27.83, for a total value of $163,501.25. Following the completion of the transaction, the insider now directly owns 50,554 shares of the company's stock, valued at approximately $1,406,917.82. This represents a 10.41 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 60,803 shares of company stock valued at $1,877,437. 3.68% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have commented on RNA. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $67.00 price target on shares of Avidity Biosciences in a research note on Tuesday, January 21st. Barclays decreased their target price on shares of Avidity Biosciences from $63.00 to $57.00 and set an "overweight" rating on the stock in a research note on Friday, February 28th. Bank of America dropped their price target on shares of Avidity Biosciences from $51.00 to $48.00 and set a "buy" rating for the company in a research report on Monday, March 10th. 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. Finally, BMO Capital Markets began coverage on shares of Avidity Biosciences in a report on Wednesday, March 12th. They set an "outperform" rating and a $72.00 target price for the company. Thirteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $66.69.

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.