HC Wainwright Expects Lower Earnings for Avidity Biosciences

Avidity Biosciences, Inc. (NASDAQ:RNA) – HC Wainwright lowered their Q2 2025 earnings estimates for Avidity Biosciences in a note issued to investors on Monday, May 12th. HC Wainwright analyst A. Ghosh now forecasts that the biotechnology company will post earnings per share of ($0.61) for the quarter, down from their prior estimate of ($0.59). HC Wainwright currently has a “Buy” rating and a $68.00 target price on the stock. The consensus estimate for Avidity Biosciences’ current full-year earnings is ($2.89) per share. HC Wainwright also issued estimates for Avidity Biosciences’ Q3 2025 earnings at ($0.61) EPS, Q4 2025 earnings at ($0.61) EPS, FY2025 earnings at ($2.71) EPS, FY2026 earnings at ($2.65) EPS, FY2027 earnings at ($2.13) EPS, FY2028 earnings at $0.57 EPS and FY2029 earnings at $2.60 EPS.

RNA has been the subject of a number of other research reports. Barclays cut their price objective on shares of Avidity Biosciences from $63.00 to $57.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Needham & Company LLC reiterated a “buy” rating and issued a $60.00 price objective on shares of Avidity Biosciences in a research report on Wednesday, April 9th. Citigroup assumed coverage on Avidity Biosciences in a research report on Thursday, March 13th. They set a “buy” rating and a $70.00 price target for the company. Chardan Capital restated a “buy” rating and issued a $65.00 price objective on shares of Avidity Biosciences in a research report on Wednesday, May 7th. Finally, Scotiabank initiated coverage on Avidity Biosciences in a research report on Friday, March 7th. They set a “sector outperform” rating and a $70.00 price objective for the company. Thirteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $66.38.

Avidity Biosciences Stock Up 2.0%

RNA opened at $28.97 on Thursday. Avidity Biosciences has a 52 week low of $21.51 and a 52 week high of $56.00. The business has a 50 day moving average price of $29.20 and a two-hundred day moving average price of $33.04. The company has a market cap of $3.49 billion, a PE ratio of -10.06 and a beta of 1.00.

Avidity Biosciences (NASDAQ:RNA) last issued its quarterly earnings data on Thursday, May 8th. The biotechnology company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.88) by ($0.02). The business had revenue of $1.60 million for the quarter, compared to analysts’ expectations of $2.63 million. Avidity Biosciences had a negative return on equity of 27.66% and a negative net margin of 2,772.45%.

Insider Buying and Selling

In other Avidity Biosciences news, insider Kathleen P. Gallagher sold 5,875 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $27.83, for a total value of $163,501.25. Following the completion of the sale, the insider now owns 50,554 shares of the company’s stock, valued at $1,406,917.82. This trade represents a 10.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven George Hughes sold 9,578 shares of the business’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $31.06, for a total transaction of $297,492.68. Following the transaction, the insider now directly owns 72,850 shares in the company, valued at approximately $2,262,721. The trade was a 11.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 60,803 shares of company stock valued at $1,877,437. Insiders own 3.68% of the company’s stock.

Institutional Investors Weigh In On Avidity Biosciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its stake in shares of Avidity Biosciences by 2.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,338,098 shares of the biotechnology company’s stock valued at $334,701,000 after acquiring an additional 295,275 shares in the last quarter. Wellington Management Group LLP grew its stake in Avidity Biosciences by 19.5% during the 1st quarter. Wellington Management Group LLP now owns 9,684,556 shares of the biotechnology company’s stock valued at $285,888,000 after purchasing an additional 1,578,459 shares in the last quarter. Vanguard Group Inc. grew its stake in Avidity Biosciences by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 9,431,911 shares of the biotechnology company’s stock valued at $274,280,000 after purchasing an additional 205,027 shares in the last quarter. Avoro Capital Advisors LLC increased its holdings in Avidity Biosciences by 9.1% during the 4th quarter. Avoro Capital Advisors LLC now owns 7,500,000 shares of the biotechnology company’s stock worth $218,100,000 after purchasing an additional 625,000 shares during the last quarter. Finally, Janus Henderson Group PLC raised its position in shares of Avidity Biosciences by 44.1% in the 4th quarter. Janus Henderson Group PLC now owns 7,053,010 shares of the biotechnology company’s stock valued at $205,134,000 after purchasing an additional 2,156,844 shares in the last quarter.

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.