Avidity Biosciences Inc (NASDAQ:RNA) price on Wednesday, February 05, rose 4.02% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $34.68.
A look at the stock’s price movement, the close in the last trading session was $33.34, moving within a range at $33.35 and $34.86. The beta value (5-Year monthly) was 0.908. Turning to its 52-week performance, $56.00 and $11.23 were the 52-week high and 52-week low respectively. Overall, RNA moved 13.70% over the past month.
Avidity Biosciences Inc’s market cap currently stands at around $4.14 billion, with investors looking forward to this quarter’s earnings report slated for in March.
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 9.75M, representing a 1.99% 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 50% Sell. On the other hand, the stock is on average a 50% 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 13.44% and 3.50% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 61.75, while 7-day volatility ratio is 4.50% and 5.98% in the 30-day chart. Further, Avidity Biosciences Inc (RNA) has a beta value of 1.00, and an average true range (ATR) of 1.80. 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 -70.13% off current price level while to achieve the yearly target high, price needs to move -70.13%. Nonetheless, investors will most likely welcome a -70.13% 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 1.32 over the past 10 days and 1.31 million over the past 3 months. The company’s latest data on shares outstanding shows there are 118.90 million shares.
The 9.26% of Avidity Biosciences Inc’s shares are in the hands of company insiders while institutional holders own 101.22% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 15.39 million on 2025-01-15, giving us a short ratio of 10.9. The data shows that as of 2025-01-15 short interest in Avidity Biosciences Inc (RNA) stood at 1590.9999999999998 of shares outstanding, with shares short falling to 15.48 million registered in 2024-12-13. Current price change has pushed the stock 19.26% 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.
