FY2026 Earnings Estimate for RNA Issued By Cantor Fitzgerald

Avidity Biosciences, Inc. (NASDAQ:RNA - Free Report) - Investment analysts at Cantor Fitzgerald issued their FY2026 earnings per share estimates for Avidity Biosciences in a report issued on Monday, June 9th. Cantor Fitzgerald analyst E. Schmidt forecasts that the biotechnology company will earn ($5.15) per share for the year. The consensus estimate for Avidity Biosciences' current full-year earnings is ($2.89) per share.

RNA has been the topic of a number of other research reports. Barclays raised their target price on Avidity Biosciences from $57.00 to $59.00 and gave the stock an "overweight" rating in a report on Tuesday. JPMorgan Chase & Co. raised their target price on Avidity Biosciences from $57.00 to $59.00 and gave the stock an "overweight" rating in a report on Tuesday. BMO Capital Markets started coverage on Avidity Biosciences in a report on Wednesday, March 12th. They set an "outperform" rating and a $72.00 target price on the stock. Citigroup raised their target price on Avidity Biosciences from $70.00 to $75.00 and gave the stock a "buy" rating in a report on Tuesday. Finally, Bank of America raised their target price on Avidity Biosciences from $48.00 to $54.00 and gave the stock a "buy" rating in a report on Monday, June 9th. Fourteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $67.33.

Avidity Biosciences Trading Down 2.4%

Avidity Biosciences stock traded down $0.77 during mid-day trading on Wednesday, hitting $31.37. The stock had a trading volume of 963,594 shares, compared to its average volume of 1,412,242. The stock has a 50-day simple moving average of $29.99 and a two-hundred day simple moving average of $31.09. The stock has a market capitalization of $3.78 billion, a PE ratio of -10.89 and a beta of 0.95. Avidity Biosciences has a 12 month low of $21.51 and a 12 month high of $56.00.

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 (EPS) for the quarter, missing the consensus estimate of ($0.88) by ($0.02). The firm had revenue of $1.60 million during the quarter, compared to the consensus estimate of $2.63 million. Avidity Biosciences had a negative net margin of 2,772.45% and a negative return on equity of 27.66%.

Insider Activity at Avidity Biosciences

In other Avidity Biosciences news, insider Steven George Hughes sold 9,578 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $31.06, for a total value of $297,492.68. Following the completion of the transaction, the insider now directly owns 72,850 shares in the company, valued at $2,262,721. This trade represents a 11.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider W. Michael Flanagan sold 20,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $32.88, for a total value of $657,600.00. Following the completion of the transaction, the insider now owns 80,195 shares of the company's stock, valued at approximately $2,636,811.60. This represents a 19.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 86,678 shares of company stock valued at $2,725,857. 3.83% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. TD Waterhouse Canada Inc. boosted its stake in shares of Avidity Biosciences by 646.3% during the 4th quarter. TD Waterhouse Canada Inc. now owns 1,000 shares of the biotechnology company's stock worth $29,000 after acquiring an additional 866 shares during the period. Van ECK Associates Corp bought a new position in shares of Avidity Biosciences during the 4th quarter worth approximately $38,000. Parallel Advisors LLC boosted its stake in shares of Avidity Biosciences by 43.3% during the 1st quarter. Parallel Advisors LLC now owns 1,705 shares of the biotechnology company's stock worth $50,000 after acquiring an additional 515 shares during the period. Headlands Technologies LLC bought a new position in shares of Avidity Biosciences during the 4th quarter worth approximately $60,000. Finally, GF Fund Management CO. LTD. bought a new position in shares of Avidity Biosciences during the 4th quarter worth approximately $73,000.

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.