Avidity Biosciences, Inc. (NASDAQ:RNA – Get Free Report) Director Arthur A. Levin sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $22.82, for a total transaction of $114,100.00. Following the sale, the director now directly owns 14,830 shares in the company, valued at approximately $338,420.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
Avidity Biosciences Stock Performance
Avidity Biosciences stock opened at $25.09 on Thursday. The company’s fifty day moving average price is $21.74 and its 200 day moving average price is $13.06. Avidity Biosciences, Inc. has a 1 year low of $4.82 and a 1 year high of $27.66. The stock has a market capitalization of $2.00 billion, a P/E ratio of -8.65 and a beta of 0.78.
Avidity Biosciences (NASDAQ:RNA – Get Free Report) last released its quarterly earnings results on Wednesday, February 28th. The biotechnology company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.25). Avidity Biosciences had a negative net margin of 2,219.87% and a negative return on equity of 39.74%. The company had revenue of $2.19 million during the quarter, compared to analyst estimates of $32.08 million. Sell-side analysts predict that Avidity Biosciences, Inc. will post -3.07 EPS for the current year.
Institutional Investors Weigh In On Avidity Biosciences
Analyst Ratings Changes
A number of equities research analysts have recently commented on RNA shares. Needham & Company LLC reaffirmed a “buy” rating and set a $35.00 price objective on shares of Avidity Biosciences in a research note on Thursday, April 11th. Cantor Fitzgerald started coverage on shares of Avidity Biosciences in a research note on Thursday, March 14th. They set an “overweight” rating and a $60.00 price objective on the stock. Wells Fargo & Company reaffirmed an “overweight” rating and set a $50.00 price objective on shares of Avidity Biosciences in a research note on Wednesday, January 3rd. Finally, Chardan Capital reaffirmed a “buy” rating and set a $23.00 price objective on shares of Avidity Biosciences in a research note on Thursday, February 29th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $36.33.
View Our Latest Stock Report on Avidity Biosciences
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.
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