Avidity Biosciences Inc (NASDAQ:RNA) price on Wednesday, January 15, rose 3.03% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $27.87.
A look at the stock’s price movement, the close in the last trading session was $27.05, moving within a range at $27.49 and $28.92. The beta value (5-Year monthly) was 0.908. Turning to its 52-week performance, $56.00 and $9.93 were the 52-week high and 52-week low respectively. Overall, RNA moved -17.45% over the past month.
Avidity Biosciences Inc’s market cap currently stands at around $3.33 billion, with investors looking forward to this quarter’s earnings report slated for in February.
The average forecast suggests down to a -20.53% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 9.74M, representing a 1.86% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that RNA is a 100% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 50% Sell category.
6 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 5 recommend RNA as a Buy and 1 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
RNA’s current price about -8.44% and -25.78% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 32.40, while 7-day volatility ratio is 6.85% and 6.17% in the 30-day chart. Further, Avidity Biosciences Inc (RNA) has a beta value of 1.00, and an average true range (ATR) of 2.01. Analysts have given the company’s stock an average 52-week price target of $59, forecast between a low of $59 and high of $59. Looking at the price targets, the low is -111.7% off current price level while to achieve the yearly target high, price needs to move -111.7%. Nonetheless, investors will most likely welcome a -111.7% jump to $59 which is the analysts’ median price.
If we refocus on Avidity Biosciences Inc (NASDAQ:RNA), historical trading data shows that trading volumes averaged 1.42 over the past 10 days and 1.18 million over the past 3 months. The company’s latest data on shares outstanding shows there are 118.90 million shares.
The 9.17% of Avidity Biosciences Inc’s shares are in the hands of company insiders while institutional holders own 101.16% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 15.68 million on 2024-12-31, giving us a short ratio of 11.47. The data shows that as of 2024-12-31 short interest in Avidity Biosciences Inc (RNA) stood at 1620.9999 of shares outstanding, with shares short rising to 14.94 million registered in 2024-11-29. Current price change has pushed the stock -4.16% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the RNA stock continues to rise going into the next quarter.
