The closing price of Avidity Biosciences Inc (NASDAQ: RNA) was $23.70 for the day, down -1.66% from the previous closing price of $24.10. In other words, the price has decreased by -$0.40 from its previous closing price. On the day, 738658 shares were traded.
Ratios:
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 7.58 and its Current Ratio is at 7.58. In the meantime, Its Debt-to-Equity ratio is 0.02 whereas as Long-Term Debt/Eq ratio is at 0.01.
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, Cantor Fitzgerald on March 14, 2024, initiated with a Overweight rating and assigned the stock a target price of $60.
On May 22, 2023, Evercore ISI Upgraded its rating to Outperform which previously was In-line but kept the price unchanged to $20.
Evercore ISI Downgraded its Outperform to In-line on March 31, 2023, while the target price for the stock was maintained at $20.
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 Mar 19 ’24 when LEVIN ARTHUR A sold 5,000 shares for $23.97 per share. The transaction valued at 119,848 led to the insider holds 14,830 shares of the business.
MacLean Michael F sold 40,000 shares of RNA for $980,760 on Mar 13 ’24. The Chief Financial Officer now owns 44,093 shares after completing the transaction at $24.52 per share. On Mar 12 ’24, another insider, Boyce Sarah, who serves as the President and CEO of the company, sold 28,000 shares for $22.63 each. As a result, the insider received 633,682 and left with 112,117 shares of the company.
Valuation Measures:
Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, RNA now has a Market Capitalization of 1.89B and an Enterprise Value of 1.30B. For the stock, the TTM Price-to-Sale (P/S) ratio is 197.63 while its Price-to-Book (P/B) ratio in mrq is 3.75. Its current Enterprise Value per Revenue stands at 136.39 whereas that against EBITDA is -5.58.
Stock Price History:
Over the past 52 weeks, RNA has reached a high of $26.24, while it has fallen to a 52-week low of $4.82. The 50-Day Moving Average of the stock is 15.72, while the 200-Day Moving Average is calculated to be 10.11.
Shares Statistics:
RNA traded an average of 1.19M shares per day over the past three months and 1.42M shares per day over the past ten days. A total of 79.28M shares are outstanding, with a floating share count of 70.71M. Insiders hold about 11.30% of the company’s shares, while institutions hold 98.38% stake in the company. Shares short for RNA as of Feb 29, 2024 were 7.77M with a Short Ratio of 6.50, compared to 7.64M on Jan 31, 2024. Therefore, it implies a Short% of Shares Outstanding of 9.74% and a Short% of Float of 9.86%.
Earnings Estimates
The firm’s stock currently is rated by 7 analysts. On average, analysts expect EPS of -$0.78 for the current quarter, with a high estimate of -$0.67 and a low estimate of -$0.95, while EPS last year was -$0.74. The consensus estimate for the next quarter is -$0.78, with high estimates of -$0.67 and low estimates of -$0.99.
Analysts are recommending an EPS of between -$2.71 and -$4.19 for the fiscal current year, implying an average EPS of -$3.2. EPS for the following year is -$3.53, with 7 analysts recommending between -$2.76 and -$4.65.
