The pursuit of outperformance leads many investors to carefully choose individual stocks. Picking the right ones can be a game-changer for growing your wealth.
After finishing at $22.73 in the prior trading day, Avidity Biosciences Inc (NASDAQ: RNA) closed at $24.16, up 6.29%. In other words, the price has increased by $6.29 from its previous closing price. On the day, 0.91 million shares were traded. RNA stock price reached its highest trading level at $24.825 during the session, while it also had its lowest trading level at $22.75.
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 19 ’24 when LEVIN ARTHUR A sold 5,000 shares for $22.82 per share. The transaction valued at 114,123 led to the insider holds 14,830 shares of the business.
LEVIN ARTHUR A sold 20,000 shares of RNA for $542,214 on Apr 03 ’24. The Director now owns 253,872 shares after completing the transaction at $27.11 per share. On Apr 02 ’24, another insider, Boyce Sarah, who serves as the President and CEO of the company, sold 28,000 shares for $26.25 each. As a result, the insider received 734,919 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 1926023168 and an Enterprise Value of 1226524672. For the stock, the TTM Price-to-Sale (P/S) ratio is 201.47 while its Price-to-Book (P/B) ratio in mrq is 3.82. Its current Enterprise Value per Revenue stands at 128.298 whereas that against EBITDA is -5.253.
Stock Price History:
The Beta on a monthly basis for RNA is 0.82, which has changed by 0.34816134 over the last 52 weeks, in comparison to a change of 0.2006725 over the same period for the S&P500. Over the past 52 weeks, RNA has reached a high of $27.66, while it has fallen to a 52-week low of $4.82. The 50-Day Moving Average of the stock is 16.15%, while the 200-Day Moving Average is calculated to be 113.00%.
Shares Statistics:
The stock has traded on average 1.19M shares per day over the past 3-months and 805510 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 71.37M. Insiders hold about 10.48% of the company’s shares, while institutions hold 98.39% stake in the company. Shares short for RNA as of 1711584000 were 9978937 with a Short Ratio of 8.38, compared to 1709164800 on 7768365. Therefore, it implies a Short% of Shares Outstanding of 9978937 and a Short% of Float of 12.659999999999998.
Earnings Estimates
Avidity Biosciences Inc (RNA) is currently under the scrutiny of Moderna, Inc. analysts, each contributing to the ongoing evaluation of its stock.The consensus estimate for the next quarter is $0.84, with high estimates of $29.51 and low estimates of $33.81.
