HC Wainwright Issues Pessimistic Estimate for RNA Earnings

Avidity Biosciences, Inc. (NASDAQ:RNA - Free Report) - Analysts at HC Wainwright dropped their Q2 2025 earnings per share (EPS) estimates for shares of Avidity Biosciences in a research note issued to investors on Monday, May 12th. HC Wainwright analyst A. Ghosh now expects that the biotechnology company will post earnings per share of ($0.61) for the quarter, down from their prior forecast of ($0.59). HC Wainwright has a "Buy" rating and a $68.00 price target on the stock. The consensus estimate for Avidity Biosciences' current full-year earnings is ($2.89) per share. HC Wainwright also issued estimates for Avidity Biosciences' Q3 2025 earnings at ($0.61) EPS, Q4 2025 earnings at ($0.61) EPS, FY2025 earnings at ($2.71) EPS, FY2026 earnings at ($2.65) EPS, FY2027 earnings at ($2.13) EPS, FY2028 earnings at $0.57 EPS and FY2029 earnings at $2.60 EPS.

A number of other equities research analysts have also weighed in on the company. Barclays lowered their price objective on Avidity Biosciences from $63.00 to $57.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. Needham & Company LLC restated a "buy" rating and issued a $60.00 target price on shares of Avidity Biosciences in a report on Wednesday, April 9th. Scotiabank started coverage on Avidity Biosciences in a research note on Friday, March 7th. They issued a "sector outperform" rating and a $70.00 target price on the stock. Chardan Capital reissued a "buy" rating and set a $65.00 price objective on shares of Avidity Biosciences in a research report on Wednesday, May 7th. Finally, Citigroup began coverage on Avidity Biosciences in a report on Thursday, March 13th. They issued a "buy" rating and a $70.00 target price for the company. Thirteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Avidity Biosciences currently has a consensus rating of "Buy" and a consensus target price of $66.38.

Avidity Biosciences Trading Up 4.8%

Shares of Avidity Biosciences stock traded up $1.38 during trading hours on Thursday, reaching $30.35. The stock had a trading volume of 1,342,137 shares, compared to its average volume of 1,437,864. Avidity Biosciences has a 1 year low of $21.51 and a 1 year high of $56.00. The firm has a market capitalization of $3.66 billion, a price-to-earnings ratio of -10.54 and a beta of 1.00. The firm has a 50 day simple moving average of $29.22 and a two-hundred day simple moving average of $32.87.

Avidity Biosciences (NASDAQ:RNA - Get Free Report) last posted its 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). Avidity Biosciences had a negative net margin of 2,772.45% and a negative return on equity of 27.66%. The firm had revenue of $1.60 million during the quarter, compared to analyst estimates of $2.63 million.

Insiders Place Their Bets

In other news, insider Steven George Hughes sold 9,578 shares of Avidity Biosciences stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $31.06, for a total value of $297,492.68. Following the transaction, the insider now owns 72,850 shares of the company's stock, valued at $2,262,721. The trade was a 11.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $163,501.25. Following the completion of the sale, the insider now directly owns 50,554 shares in the company, valued at $1,406,917.82. This trade represents a 10.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 60,803 shares of company stock worth $1,877,437. 3.83% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Avidity Biosciences

Several hedge funds and other institutional investors have recently modified their holdings of RNA. TD Waterhouse Canada Inc. grew its holdings in shares of Avidity Biosciences by 646.3% in the fourth quarter. TD Waterhouse Canada Inc. now owns 1,000 shares of the biotechnology company's stock valued at $29,000 after purchasing an additional 866 shares in the last quarter. Van ECK Associates Corp purchased a new stake in Avidity Biosciences during the fourth quarter worth about $38,000. Parallel Advisors LLC increased its holdings in Avidity Biosciences by 43.3% during the 1st quarter. Parallel Advisors LLC now owns 1,705 shares of the biotechnology company's stock valued at $50,000 after acquiring an additional 515 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Avidity Biosciences during the fourth quarter worth about $60,000. Finally, GF Fund Management CO. LTD. acquired a new stake in shares of Avidity Biosciences in the fourth quarter worth approximately $73,000.

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.