Avidity Biosciences Inc (NASDAQ: RNA)’s stock price has increased by 3.99 compared to its previous closing price of 26.06. However, the company has seen a 5.94% increase in its stock price over the last five trading sessions. 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?
Company’s 36-month beta value is 0.79.Analysts have differing opinions on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for RNA is 85.60M, and currently, short sellers hold a 12.46% ratio of that floaft. The average trading volume of RNA on May 10, 2024 was 1.16M shares.
RNA’s Market Performance
RNA stock saw an increase of 5.94% in the past week, with a monthly gain of 5.69% and a quarterly increase of 116.63%. The volatility ratio for the week is 5.15%, and the volatility levels for the last 30 days are 5.66% for Avidity Biosciences Inc (RNA). The simple moving average for the past 20 days is 9.81% for RNA’s stock, with a 120.64% simple moving average for the past 200 days.
Analysts’ Opinion of RNA
Many brokerage firms have already submitted their reports for RNA stocks, with BofA Securities repeating the rating for RNA by listing it as a “Buy.” The predicted price for RNA in the upcoming period, according to BofA Securities is $40 based on the research report published on May 03, 2024 of the current year 2024.
Cantor Fitzgerald, on the other hand, stated in their research note that they expect to see RNA reach a price target of $60. The rating they have provided for RNA stocks is “Overweight” according to the report published on March 14th, 2024.
Evercore ISI gave a rating of “Outperform” to RNA, setting the target price at $20 in the report published on May 22nd of the previous year.
RNA Trading at 14.31% 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 -2.02% of loss for the given period.
Volatility was left at 5.66%, however, over the last 30 days, the volatility rate increased by 5.15%, as shares surge +6.90% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +77.59% upper at present.
During the last 5 trading sessions, RNA rose by +5.94%, which changed the moving average for the period of 200-days by +195.85% in comparison to the 20-day moving average, which settled at $24.77. In addition, Avidity Biosciences Inc saw 199.45% 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 Boyce Sarah, who sale 28,000 shares at the price of $25.54 back on May 07 ’24. After this action, Boyce Sarah now owns 112,117 shares of Avidity Biosciences Inc, valued at $715,050 using the latest closing price.
LEVIN ARTHUR A, the Director of Avidity Biosciences Inc, sale 5,000 shares at $22.82 during a trade that took place back on Apr 19 ’24, which means that LEVIN ARTHUR A is holding 14,830 shares at $114,123 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 252.74. 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
In a nutshell, Avidity Biosciences Inc (RNA) has experienced a better performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
