After finishing at $26.87 in the prior trading day, Avidity Biosciences Inc (NASDAQ: RNA) closed at $26.64, down -0.86%. In other words, the price has decreased by -$0.23 from its previous closing price. On the day, 949657 shares were traded.
Ratios:
Our goal is to gain a better understanding of RNA by taking a closer look at its different ratios. 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:
The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Apr 03 ’24 when LEVIN ARTHUR A sold 20,000 shares for $27.11 per share. The transaction valued at 542,214 led to the insider holds 253,872 shares of the business.
Boyce Sarah sold 28,000 shares of RNA for $734,919 on Apr 02 ’24. The President and CEO now owns 112,117 shares after completing the transaction at $26.25 per share. On Mar 19 ’24, another insider, LEVIN ARTHUR A, who serves as the Director of the company, sold 5,000 shares for $23.97 each. As a result, the insider received 119,848 and left with 14,830 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 2.14B and an Enterprise Value of 1.56B. For the stock, the TTM Price-to-Sale (P/S) ratio is 222.15 while its Price-to-Book (P/B) ratio in mrq is 4.22. Its current Enterprise Value per Revenue stands at 162.99 whereas that against EBITDA is -6.67.
Stock Price History:
The Beta on a monthly basis for RNA is 0.76, which has changed by 98.07% over the last 52 weeks, in comparison to a change of 26.95% over the same period for the S&P500. Over the past 52 weeks, RNA has reached a high of $26.98, while it has fallen to a 52-week low of $4.82. The 50-Day Moving Average of the stock is 18.15, while the 200-Day Moving Average is calculated to be 10.58.
Shares Statistics:
The stock has traded on average 1.23M shares per day over the past 3-months and 1.13M shares per day over the last 10 days, according to various share statistics. 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 Mar 15, 2024 were 8.62M with a Short Ratio of 6.98, compared to 7.73M on Feb 15, 2024. Therefore, it implies a Short% of Shares Outstanding of 10.81% and a Short% of Float of 10.93%.
Earnings Estimates
Its stock is currently analyzed by 7 different market 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.
