Avidity Biosciences (RNA) Projected to Post Quarterly Earnings on Friday

Key Points

• Avidity Biosciences is set to release its Q2 2025 earnings on August 8th, with analysts predicting an earnings loss of ($0.93) per share and revenue of $1.61 million.
• The company recently missed analysts' earnings expectations for Q1, reporting ($0.90) EPS and $1.60 million in revenue compared to the anticipated $2.63 million.
• Despite recent insider selling, several institutional investors have increased their stakes, with Goldman Sachs raising its position by 2.8% and Royal Bank of Canada increasing its stake by 38.2% in the first quarter.

Avidity Biosciences (NASDAQ:RNA - Get Free Report) will likely be posting its Q2 2025 quarterly earnings results before the market opens on Friday, August 8th. Analysts expect Avidity Biosciences to post earnings of ($0.93) per share and revenue of $1.61 million for the quarter.

Avidity Biosciences (NASDAQ:RNA - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The biotechnology company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.88) by ($0.02). The company had revenue of $1.60 million for the quarter, compared to the consensus estimate of $2.63 million. Avidity Biosciences had a negative net margin of 4,136.00% and a negative return on equity of 26.96%. 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 Performance

NASDAQ:RNA traded up $1.26 during trading hours on Monday, reaching $37.18. The company's stock had a trading volume of 794,926 shares, compared to its average volume of 1,630,085. The company has a market capitalization of $4.48 billion, a P/E ratio of -12.39 and a beta of 0.95. Avidity Biosciences has a 12 month low of $21.51 and a 12 month high of $56.00. The stock has a 50 day moving average price of $31.98 and a two-hundred day moving average price of $30.80.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Citigroup upped their price target on Avidity Biosciences from $70.00 to $75.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Chardan Capital upped their price target on shares of Avidity Biosciences from $65.00 to $75.00 and gave the company a "buy" rating in a report on Monday, June 9th. Needham & Company LLC reaffirmed a "buy" rating and issued a $60.00 price target on shares of Avidity Biosciences in a report on Wednesday, April 9th. Raymond James Financial assumed coverage on shares of Avidity Biosciences in a report on Wednesday, June 11th. They issued a "strong-buy" rating and a $65.00 price target on the stock. Finally, The Goldman Sachs Group raised shares of Avidity Biosciences to a "buy" rating and set a $55.00 price target on the stock in a report on Thursday, July 10th. Sixteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $66.35.

Insider Activity at Avidity Biosciences

In other news, insider W. Michael Flanagan sold 20,000 shares of Avidity Biosciences stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $32.88, for a total value of $657,600.00. Following the transaction, the insider directly owned 80,195 shares of the company's stock, valued at $2,636,811.60. The trade was a 19.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Kathleen P. Gallagher sold 5,875 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $32.48, for a total transaction of $190,820.00. Following the completion of the sale, the insider directly owned 50,554 shares of the company's stock, valued at $1,641,993.92. The trade was a 10.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,786 shares of company stock valued at $875,969 in the last ninety days. 3.83% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Avidity Biosciences

A number of large investors have recently added to or reduced their stakes in the company. Strs Ohio bought a new position in shares of Avidity Biosciences in the 1st quarter worth about $180,000. NewEdge Advisors LLC increased its holdings in shares of Avidity Biosciences by 22.7% in the 1st quarter. NewEdge Advisors LLC now owns 23,837 shares of the biotechnology company's stock worth $704,000 after acquiring an additional 4,410 shares during the period. Royal Bank of Canada increased its stake in Avidity Biosciences by 38.2% during the 1st quarter. Royal Bank of Canada now owns 44,304 shares of the biotechnology company's stock valued at $1,308,000 after buying an additional 12,241 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Avidity Biosciences by 7.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 357,718 shares of the biotechnology company's stock valued at $10,560,000 after buying an additional 25,329 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in Avidity Biosciences by 2.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 784,704 shares of the biotechnology company's stock valued at $23,164,000 after buying an additional 21,649 shares during the period.

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.