Leerink Partnrs Has Pessimistic View of RNA FY2026 Earnings

Avidity Biosciences, Inc. (NASDAQ:RNA - Free Report) - Equities researchers at Leerink Partnrs decreased their FY2026 earnings per share (EPS) estimates for Avidity Biosciences in a note issued to investors on Monday, June 9th. Leerink Partnrs analyst J. Schwartz now forecasts that the biotechnology company will earn ($5.06) per share for the year, down from their prior estimate of ($5.03). The consensus estimate for Avidity Biosciences' current full-year earnings is ($2.89) per share.

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

Other analysts have also recently issued reports about the company. Barclays increased their price objective on Avidity Biosciences from $57.00 to $59.00 and gave the company an "overweight" rating in a research note on Tuesday, June 10th. BMO Capital Markets initiated coverage on Avidity Biosciences in a report on Wednesday, March 12th. They set an "outperform" rating and a $72.00 price target for the company. Citigroup increased their price objective on Avidity Biosciences from $70.00 to $75.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Bank of America increased their price objective on Avidity Biosciences from $48.00 to $54.00 and gave the company a "buy" rating in a report on Monday, June 9th. Finally, JPMorgan Chase & Co. increased their price objective on Avidity Biosciences from $57.00 to $59.00 and gave the company an "overweight" rating in a report on Tuesday, June 10th. 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.com, the stock presently has an average rating of "Buy" and an average price target of $67.33.

Avidity Biosciences Price Performance

Shares of NASDAQ RNA traded down $0.77 during mid-day trading on Thursday, hitting $31.37. The company had a trading volume of 963,594 shares, compared to its average volume of 1,412,242. The company has a market capitalization of $3.78 billion, a PE ratio of -10.89 and a beta of 0.95. Avidity Biosciences has a 1-year low of $21.51 and a 1-year high of $56.00. The business's 50-day simple moving average is $29.99 and its 200 day simple moving average is $31.00.

Hedge Funds Weigh In On Avidity Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. TD Waterhouse Canada Inc. boosted its holdings in Avidity Biosciences by 646.3% in the 4th 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 in the 4th quarter valued at approximately $38,000. Parallel Advisors LLC boosted its holdings in Avidity Biosciences by 43.3% in the 1st quarter. Parallel Advisors LLC now owns 1,705 shares of the biotechnology company's stock valued at $50,000 after purchasing an additional 515 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Avidity Biosciences in the 4th quarter valued at approximately $60,000. Finally, GF Fund Management CO. LTD. purchased a new stake in Avidity Biosciences in the 4th quarter valued at approximately $73,000.

Insider Transactions at Avidity Biosciences

In related news, insider W. Michael Flanagan sold 20,000 shares of the firm's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $32.88, for a total transaction of $657,600.00. Following the transaction, the insider now owns 80,195 shares of the company's stock, valued at $2,636,811.60. This trade represents a 19.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Kathleen P. Gallagher sold 5,875 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $32.48, for a total value of $190,820.00. Following the transaction, the insider now directly owns 50,554 shares in the company, valued at approximately $1,641,993.92. This represents a 10.41% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 86,678 shares of company stock worth $2,725,857. Corporate insiders own 3.83% of the company's stock.

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.