Avidity Biosciences Inc. (RNA) stock is nearly perfect except the valuation

The closing price of Avidity Biosciences Inc. (NASDAQ: RNA) was $22.47 for the day, up 4.90% from the previous closing price of $21.42. In other words, the price has increased by $+1.05 from its previous closing price. On the day, 666345 shares were traded. RNA stock price reached its highest trading level at $22.57 during the session, while it also had its lowest trading level at $21.10.

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Our analysis of RNA’s different ratios will help us gain a deeper understanding of the company. For the most recent quarter (mrq), Quick Ratio is recorded 9.70 and its Current Ratio is at 9.70. In the meantime, Its Debt-to-Equity ratio is 0.00 whereas as Long-Term Debt/Eq ratio is at 0.00.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for this company, Chardan Capital Markets on July 20, 2022, initiated with a Buy rating and assigned the stock a target price of $29.

On July 12, 2022, Raymond James started tracking the stock assigning a Strong Buy rating and target price of $29.

On September 07, 2021, Evercore ISI started tracking the stock assigning a Outperform rating and target price of $50.Evercore ISI initiated its Outperform rating on September 07, 2021, with a $50 target price.

Insider Transactions:

Also, insider trades can serve as a great indicator of what management thinks about the future direction of a stock’s price. A recent insider transaction in this stock occurred on Jan 12 when LEVIN ARTHUR A sold 10,000 shares for $22.00 per share. The transaction valued at 220,028 led to the insider holds 1,330 shares of the business.

LEVIN ARTHUR A sold 40,000 shares of RNA for $880,568 on Dec 29. The Chief Scientific Officer now owns 1,330 shares after completing the transaction at $22.01 per share. On Aug 25, another insider, Boyce Sarah, who serves as the President and CEO of the company, sold 14,855 shares for $23.07 each. As a result, the insider received 342,690 and left with 0 shares of the company.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 171.48 while its Price-to-Book (P/B) ratio in mrq is 3.16.

Stock Price History:

Over the past 52 weeks, RNA has reached a high of $23.57, while it has fallen to a 52-week low of $9.83. The 50-Day Moving Average of the stock is 16.29, while the 200-Day Moving Average is calculated to be 16.57.

Shares Statistics:

RNA traded an average of 1.97M shares per day over the past three months and 829.22k shares per day over the past ten days. A total of 53.07M shares are outstanding, with a floating share count of 50.87M. Insiders hold about 5.41% of the company’s shares, while institutions hold 99.00% stake in the company. Shares short for RNA as of Oct 13, 2022 were 4.93M with a Short Ratio of 8.28M, compared to 5.3M on Sep 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 9.45% and a Short% of Float of 11.43%.

Earnings Estimates

The firm’s stock currently is rated by 7 analysts. On average, analysts expect EPS of -$0.93 for the current quarter, with a high estimate of -$0.84 and a low estimate of -$1, while EPS last year was -$0.68. The consensus estimate for the next quarter is -$0.94, with high estimates of -$0.79 and low estimates of -$1.09.

Analysts are recommending an EPS of between -$3.33 and -$3.73 for the fiscal current year, implying an average EPS of -$3.53. EPS for the following year is -$3.76, with 8 analysts recommending between -$3.3 and -$4.88.

Revenue Estimates

A total of 6 analysts have provided revenue estimates for RNA’s current fiscal year. The highest revenue estimate was $10M, while the lowest revenue estimate was $7.7M, resulting in an average revenue estimate of $8.7M. In the same quarter a year ago, actual revenue was $9.33M, down -6.70% from the average estimate. Based on 7 analysts’ estimates, the company’s revenue will be $7.93M in the next fiscal year. The high estimate is $12M and the low estimate is $4M. The average revenue growth estimate for next year is down -8.90% from the average revenue estimate for this year.