Avidity Biosciences Inc (NASDAQ: RNA)’s stock price has gone decline by -0.70 in comparison to its previous close of 23.55, however, the company has experienced a -7.75% decrease in its stock price over the last five trading days. Seeking Alpha reported 2024-03-05 that Dyne: H2 2024 Muscle Disease Data Could Boost Value
Is It Worth Investing in Avidity Biosciences Inc (NASDAQ: RNA) Right Now?
The stock has a 36-month beta value of 0.80. Opinions on the stock are mixed, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for RNA is 71.35M, and at present, short sellers hold a 13.99% of that float. On April 18, 2024, the average trading volume of RNA was 1.18M shares.
RNA’s Market Performance
RNA’s stock has seen a -7.75% decrease for the week, with a -1.70% drop in the past month and a 124.22% gain in the past quarter. The volatility ratio for the week is 4.20%, and the volatility levels for the past 30 days are at 6.55% for Avidity Biosciences Inc The simple moving average for the past 20 days is -5.47% for RNA’s stock, with a 108.32% simple moving average for the past 200 days.
Analysts’ Opinion of RNA
Many brokerage firms have already submitted their reports for RNA stocks, with Cantor Fitzgerald repeating the rating for RNA by listing it as a “Overweight.” The predicted price for RNA in the upcoming period, according to Cantor Fitzgerald is $60 based on the research report published on March 14, 2024 of the current year 2024.
Evercore ISI, on the other hand, stated in their research note that they expect to see RNA reach a price target of $20. The rating they have provided for RNA stocks is “Outperform” according to the report published on May 22nd, 2023.
Evercore ISI gave a rating of “In-line” to RNA, setting the target price at $20 in the report published on March 31st of the previous year.
RNA Trading at 14.78% from the 50-Day Moving Average
After a stumble in the market that brought RNA to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -15.45% of loss for the given period.
Volatility was left at 6.55%, however, over the last 30 days, the volatility rate increased by 4.20%, as shares sank -3.59% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +89.69% upper at present.
During the last 5 trading sessions, RNA fell by -7.81%, which changed the moving average for the period of 200-days by +105.90% in comparison to the 20-day moving average, which settled at $24.70. In addition, Avidity Biosciences Inc saw 158.41% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at RNA starting from LEVIN ARTHUR A, who sale 20,000 shares at the price of $27.11 back on Apr 03 ’24. After this action, LEVIN ARTHUR A now owns 253,872 shares of Avidity Biosciences Inc, valued at $542,214 using the latest closing price.
Boyce Sarah, the President and CEO of Avidity Biosciences Inc, sale 28,000 shares at $26.25 during a trade that took place back on Apr 02 ’24, which means that Boyce Sarah is holding 112,117 shares at $734,919 based on the most recent closing price.
Stock Fundamentals for RNA
Current profitability levels for the company are sitting at:
- -24.14 for the present operating margin
- 0.55 for the gross margin
The net margin for Avidity Biosciences Inc stands at -21.65. The total capital return value is set at -0.42. Equity return is now at value -39.34, with -33.49 for asset returns.
Based on Avidity Biosciences Inc (RNA), the company’s capital structure generated 0.02 points at debt to capital in total, while cash flow to debt ratio is standing at -12.09. The debt to equity ratio resting at 0.02. The interest coverage ratio of the stock is 590.25.
Currently, EBITDA for the company is -233.5 million with net debt to EBITDA at 0.75. When we switch over and look at the enterprise to sales, we see a ratio of 176.3. The receivables turnover for the company is 5.02for trailing twelve months and the total asset turnover is 0.02. The liquidity ratio also appears to be rather interesting for investors as it stands at 7.58.
Conclusion
To sum up, Avidity Biosciences Inc (RNA) has seen a mixed performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
