Avidity Biosciences Inc (NASDAQ:RNA) shares, rose in value on Wednesday, December 11, with the stock price down by -1.44% to the previous day’s close as strong demand from buyers drove the stock to $35.58.
Actively observing the price movement in the last trading, the stock closed the session at $36.10, falling within a range of $35.37 and $36.6869. The value of beta (5-year monthly) was 0.908. Referring to stock’s 52-week performance, its high was $56.00, and the low was $6.79. On the whole, RNA has fluctuated by -24.49% over the past month.
With the market capitalization of Avidity Biosciences Inc currently standing at about $4.25 billion, investors are eagerly awaiting this quarter’s results, scheduled for in January.
Wall Street analysts also predicted that the company’s y-o-y revenues would reach 2.42M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that RNA’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium-term indicators have put the stock in the category of 50% Buy while long-term indicators on average have been pointing out that it is a 50% Sell.
The stock’s technical analysis shows that the price of RNA currently trading nearly -14.82% and -19.78% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 33.13, while the 7-day volatility ratio is showing 5.59% which for the 30-day chart, stands at 7.24%. Furthermore, Avidity Biosciences Inc (RNA)’s beta value is 0.91, and its average true range (ATR) is 2.53.
A comparison of Avidity Biosciences Inc (RNA) with its peers suggests the former has fared considerably weaker in the market. RNA showed an intraday change of -1.44% in last session, and over the past year, it grew by 399.02%%.
Data on historical trading for Avidity Biosciences Inc (NASDAQ:RNA) indicates that the trading volumes over the past 10 days have averaged 1.1 and over the past 3 months, they’ve averaged 1.27 million. According to company’s latest data on outstanding shares, there are 118.90 million shares outstanding.
Nearly 9.07% of Avidity Biosciences Inc’s shares belong to company insiders and institutional investors own 101.11% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 14.94 million shares as on 2024-11-29, resulting in a short ratio of 13.34. According to the data, the short interest in Avidity Biosciences Inc (RNA) stood at 1544.00 of shares outstanding as of 2024-11-29; the number of short shares registered in 2024-10-31 reached 14.66 million. The stock has risen by 293.15% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the RNA stock heading into the next quarter.
