Avidity Biosciences - RNA Stock Forecast, Price & News

6 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Avidity Biosciences in the last year. There are currently 5 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street analysts is that investors should "buy" RNA shares.
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6 equities research analysts have issued 1-year price targets for Avidity Biosciences' stock. Their RNA share price forecasts range from $27.00 to $59.00. On average, they anticipate the company's stock price to reach $39.50 in the next twelve months. This suggests a possible upside of 292.6% from the stock's current price.
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Avidity Biosciences' stock was trading at $23.77 at the beginning of 2022. Since then, RNA stock has decreased by 57.7% and is now trading at $10.06.
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Avidity Biosciences saw a increase in short interest in the month of November. As of November 15th, there was short interest totaling 7,030,000 shares, an increase of 26.7% from the October 31st total of 5,550,000 shares. Based on an average trading volume of 533,200 shares, the days-to-cover ratio is presently 13.2 days.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, March 7th 2023.
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Avidity Biosciences, Inc. (NASDAQ:RNA) posted its quarterly earnings results on Tuesday, November, 9th. The biotechnology company reported ($0.68) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.68). The biotechnology company earned $2.16 million during the quarter, compared to the consensus estimate of $1.50 million. Avidity Biosciences had a negative trailing twelve-month return on equity of 42.97% and a negative net margin of 1,950.91%.

Based on aggregate information from My MarketBeat watchlists, some companies that other Avidity Biosciences investors own include GTX (GTXI), Inovio Pharmaceuticals (INO), Novavax (NVAX), Sarepta Therapeutics (SRPT), Avid Bioservices (CDMO), Dynavax Technologies (DVAX), iBio (IBIO), Intel (INTC), Ariad Pharmaceuticals (ARIA) and Corcept Therapeutics (CORT).

(RNA) raised $150 million in an initial public offering (IPO) on Friday, June 12th 2020. The company issued 10,000,000 shares at $14.00-$16.00 per share. Cowen, SVB Leerink, Credit Suisse and Wells Fargo Securities served as the underwriters for the IPO.

Avidity Biosciences trades on the NASDAQ under the ticker symbol "RNA."

Avidity Biosciences' stock is owned by a variety of institutional and retail investors. Top institutional shareholders include RTW Investments LP (9.49%), Price T Rowe Associates Inc. MD (9.49%), BlackRock Inc. (7.57%), EcoR1 Capital LLC (5.32%), Vanguard Group Inc. (4.95%) and Federated Hermes Inc. (4.55%). Insiders that own company stock include Arthur A Levin, Rtw Investments, Lp and Sarah Boyce.
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Shares of RNA stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of RNA stock can currently be purchased for approximately $10.06.

Avidity Biosciences (NASDAQ:RNA) has a market capitalization of $547.90 million and generates $9.33 million in revenue each year. The biotechnology company earns $-118,010,000.00 in net income (profit) each year or ($3.27) on an earnings per share basis.

The company employs 125 workers across the globe.

Avidity Biosciences' mailing address is 10975 N. TORREY PINES RD. SUITE 150, LA JOLLA CA, 92037. The official website for the company is www.aviditybiosciences.com. The biotechnology company can be reached via phone at 858-401-7900 or via email at amy@juniper-point.com.