HC Wainwright Issues Optimistic Forecast for RNA Earnings

Key Points

• HC Wainwright raised its Q3 2026 EPS estimate for Avidity Biosciences to a loss of $1.70 per share from a previous loss estimate of $2.31, while maintaining a Buy rating and $25 price target.
• Avidity’s latest quarterly results beat expectations, with an EPS loss of $1.18 versus the $1.42 consensus and revenue of $3.0 million compared with estimates of $0.67 million.
• Despite HC Wainwright’s bullish view, the broader analyst consensus is Hold, with an average price target of $63.85. The stock recently traded at $12.96, well below its 52-week high of $16.77.

Avidity Biosciences, Inc. (NASDAQ:RNA - Free Report) - Research analysts at HC Wainwright increased their Q3 2026 earnings per share (EPS) estimates for Avidity Biosciences in a research report issued on Friday, August 14th. HC Wainwright analyst M. Kapoor now expects that the biotechnology company will post earnings per share of ($1.70) for the quarter, up from their prior forecast of ($2.31). HC Wainwright has a "Buy" rating and a $25.00 price objective on the stock. The consensus estimate for Avidity Biosciences' current full-year earnings is ($5.74) per share. HC Wainwright also issued estimates for Avidity Biosciences' Q4 2026 earnings at ($1.76) EPS, FY2026 earnings at ($5.61) EPS, Q1 2027 earnings at ($1.91) EPS, Q2 2027 earnings at ($1.99) EPS, Q3 2027 earnings at ($2.07) EPS, Q4 2027 earnings at ($2.18) EPS and FY2027 earnings at ($8.16) EPS.

Avidity Biosciences (NASDAQ:RNA - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The biotechnology company reported ($1.18) EPS for the quarter, topping analysts' consensus estimates of ($1.42) by $0.24. The company had revenue of $3.00 million during the quarter, compared to the consensus estimate of $0.67 million.

A number of other analysts have also issued reports on RNA. Leerink Partners began coverage on Avidity Biosciences in a report on Friday, May 15th. They issued an "outperform" rating for the company. Weiss Ratings raised Avidity Biosciences from a "sell (e-)" rating to a "sell (e)" rating in a research report on Monday, August 3rd. Wall Street Zen raised Avidity Biosciences from a "sell" rating to a "hold" rating in a research report on Saturday, May 30th. Cantor Fitzgerald assumed coverage on Avidity Biosciences in a report on Thursday, June 18th. They issued an "overweight" rating and a $25.00 target price for the company. Finally, Zacks Research raised Avidity Biosciences to a "hold" rating in a research report on Friday, June 19th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Avidity Biosciences has an average rating of "Hold" and an average price target of $63.85.

Avidity Biosciences Price Performance

Avidity Biosciences stock opened at $12.96 on Tuesday. The stock has a market cap of $221.75 million and a price-to-earnings ratio of -13.36. The firm has a 50-day moving average of $12.40 and a two-hundred day moving average of $22.29. Avidity Biosciences has a 1 year low of $11.13 and a 1 year high of $16.77.

Institutional Investors Weigh In On Avidity Biosciences

Hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada lifted its holdings in shares of Avidity Biosciences by 38.2% in 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. NewEdge Advisors LLC grew its holdings in Avidity Biosciences by 22.7% in the 1st quarter. NewEdge Advisors LLC now owns 23,837 shares of the biotechnology company's stock valued at $704,000 after buying an additional 4,410 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Avidity Biosciences by 2.8% in 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Avidity Biosciences by 7.6% in 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 worth $10,560,000 after acquiring an additional 25,329 shares during the last quarter. Finally, Strs Ohio acquired a new stake in shares of Avidity Biosciences in the 1st quarter worth $180,000.

About Avidity Biosciences

Avidity Biosciences is a clinical-stage biotechnology company dedicated to developing antibody-oligonucleotide conjugate (AOC) therapies designed to address serious neuromuscular and cardiac diseases. The company's proprietary AOC platform combines the targeting specificity of monoclonal antibodies with the gene-modulating power of oligonucleotides to deliver therapeutic agents directly into muscle cells. Headquartered in La Jolla, California, Avidity seeks to overcome traditional delivery challenges associated with RNA-based medicines by leveraging receptor-mediated uptake mechanisms.

The company's lead product candidate, AOC 1001, is in clinical development for myotonic dystrophy type 1 (DM1) and represents the first application of the AOC platform in a human study.

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