Avidity Biosciences (RNA) Expected to Announce Quarterly Earnings on Wednesday

Avidity Biosciences (NASDAQ:RNA) will likely be issuing its quarterly earnings data before the market opens on Wednesday, February 26th. Analysts expect the company to announce earnings of ($0.76) per share and revenue of $1.74 million for the quarter.

Avidity Biosciences Price Performance

NASDAQ:RNA opened at $31.12 on Monday. Avidity Biosciences has a 12 month low of $13.73 and a 12 month high of $56.00. The firm has a market capitalization of $3.71 billion, a PE ratio of -10.81 and a beta of 1.00. The business’s 50-day moving average is $31.22 and its two-hundred day moving average is $39.32.

Insider Buying and Selling at Avidity Biosciences

In other Avidity Biosciences news, insider W. Michael Flanagan sold 24,000 shares of Avidity Biosciences stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $35.77, for a total value of $858,480.00. Following the completion of the transaction, the insider now directly owns 85,389 shares in the company, valued at $3,054,364.53. The trade was a 21.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Michael F. Maclean sold 3,287 shares of Avidity Biosciences stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $28.59, for a total value of $93,975.33. Following the completion of the transaction, the chief financial officer now owns 104,655 shares of the company’s stock, valued at approximately $2,992,086.45. The trade was a 3.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 129,138 shares of company stock worth $4,229,012 over the last ninety days. Company insiders own 3.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Chardan Capital reaffirmed a “buy” rating and set a $65.00 target price on shares of Avidity Biosciences in a research report on Wednesday, November 13th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $67.00 target price on shares of Avidity Biosciences in a research report on Tuesday, January 21st. HC Wainwright reaffirmed a “buy” rating and set a $72.00 target price on shares of Avidity Biosciences in a research report on Friday, January 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 target price on shares of Avidity Biosciences in a research report on Wednesday, November 13th. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Avidity Biosciences currently has an average rating of “Buy” and an average price target of $65.80.

Avidity Biosciences Company Profile

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.