FY2026 Earnings Forecast for RNA Issued By Cantor Fitzgerald

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

Several other research analysts also recently commented on the company. Needham & Company LLC reissued a "buy" rating and set a $60.00 target price on shares of Avidity Biosciences in a research note on Wednesday, April 9th. Scotiabank assumed coverage on shares of Avidity Biosciences in a research report on Friday, March 7th. They issued a "sector outperform" rating and a $70.00 target price on the stock. Citigroup increased their price target on Avidity Biosciences from $70.00 to $75.00 and gave the company a "buy" rating in a research note on Tuesday. HC Wainwright cut their target price on shares of Avidity Biosciences from $72.00 to $68.00 and set a "buy" rating on the stock in a research report on Monday, May 12th. Finally, Raymond James assumed coverage on shares of Avidity Biosciences in a research report on Wednesday. They issued a "strong-buy" rating and a $65.00 price target for the company. Fourteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $67.33.

Avidity Biosciences Stock Performance

Shares of Avidity Biosciences stock traded down $0.12 during trading on Wednesday, reaching $31.89. 819,514 shares of the company's stock were exchanged, compared to its average volume of 1,463,093. The firm's 50-day moving average price is $29.71 and its 200 day moving average price is $31.35. The company has a market cap of $3.84 billion, a P/E ratio of -11.07 and a beta of 0.95. Avidity Biosciences has a 1-year low of $21.51 and a 1-year high of $56.00.

Avidity Biosciences (NASDAQ:RNA - Get Free Report) last released its earnings results on Thursday, May 8th. The biotechnology company reported ($0.90) 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%.

Hedge Funds Weigh In On Avidity Biosciences

A number of institutional investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its stake in shares of Avidity Biosciences by 2.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,338,098 shares of the biotechnology company's stock worth $334,701,000 after buying an additional 295,275 shares during the period. Wellington Management Group LLP raised its stake in Avidity Biosciences by 19.5% during the first quarter. Wellington Management Group LLP now owns 9,684,556 shares of the biotechnology company's stock valued at $285,888,000 after buying an additional 1,578,459 shares during the last quarter. Vanguard Group Inc. boosted its stake in Avidity Biosciences by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 9,431,911 shares of the biotechnology company's stock worth $274,280,000 after purchasing an additional 205,027 shares in the last quarter. Avoro Capital Advisors LLC grew its holdings in shares of Avidity Biosciences by 9.1% during the fourth quarter. Avoro Capital Advisors LLC now owns 7,500,000 shares of the biotechnology company's stock valued at $218,100,000 after buying an additional 625,000 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in Avidity Biosciences by 44.1% during the 4th quarter. Janus Henderson Group PLC now owns 7,053,010 shares of the biotechnology company's stock valued at $205,134,000 after purchasing an additional 2,156,844 shares during the last quarter.

Insider Buying and Selling at Avidity Biosciences

In other news, insider Kathleen P. Gallagher sold 5,875 shares of the company's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $27.83, for a total value of $163,501.25. Following the completion of the sale, the insider now owns 50,554 shares in the company, valued at $1,406,917.82. This represents a 10.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sarah Boyce sold 31,540 shares of the stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $31.06, for a total transaction of $979,632.40. Following the transaction, the chief executive officer now 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,678 shares of company stock worth $2,068,257. 3.83% of the stock is owned by corporate insiders.

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.