Avidity Biosciences (RNA) Projected to Post Quarterly Earnings on Wednesday

Avidity Biosciences (NASDAQ:RNA) is expected to be releasing its earnings data before the market opens on Wednesday, February 26th. Analysts expect Avidity Biosciences to post earnings of ($0.76) per share and revenue of $1.74 million for the quarter.

Avidity Biosciences Stock Down 1.9 %

RNA opened at $30.53 on Tuesday. The stock has a fifty day moving average of $31.17 and a 200-day moving average of $39.24. The firm has a market capitalization of $3.64 billion, a P/E ratio of -10.60 and a beta of 1.00. Avidity Biosciences has a 12-month low of $14.10 and a 12-month high of $56.00.

Wall Street Analyst Weigh In

Several research firms have weighed in on RNA. Chardan Capital reiterated a “buy” rating and issued a $65.00 price objective on shares of Avidity Biosciences in a research note on Wednesday, November 13th. Royal Bank of Canada reiterated an “outperform” rating and set a $67.00 price objective on shares of Avidity Biosciences in a report on Tuesday, January 21st. HC Wainwright restated a “buy” rating and issued a $72.00 target price on shares of Avidity Biosciences in a research note on Friday, January 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 price target on shares of Avidity Biosciences in a research note on Wednesday, November 13th. Ten research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $65.80.

Insiders Place Their Bets

In other Avidity Biosciences news, insider Teresa Mccarthy sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $33.26, for a total value of $831,500.00. Following the completion of the sale, the insider now owns 94,018 shares in the company, valued at approximately $3,127,038.68. This trade represents a 21.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider W. Michael Flanagan sold 24,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $35.77, for a total value of $858,480.00. Following the sale, the insider now owns 85,389 shares in the company, valued at approximately $3,054,364.53. This represents a 21.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 129,138 shares of company stock valued at $4,229,012 in the last quarter. Insiders own 3.68% of the company’s stock.

Avidity Biosciences Company Profile

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.