In the past week, RNA stock has gone up by 0.83%, with a monthly decline of -8.65% and a quarterly surge of 7.13%. The volatility ratio for the week is 3.73%, and the volatility levels for the last 30 days are 4.49% for Avidity Biosciences Inc The simple moving average for the past 20 days is -4.33% for RNA’s stock, with a 58.73% simple moving average for the past 200 days.
Is It Worth Investing in Avidity Biosciences Inc (NASDAQ: RNA) Right Now?
RNA has 36-month beta value of 0.91. Analysts have mixed views on the stock, with 6 analysts rating it as a “buy,” 3 as “overweight,” 0 as “hold,” and 0 as “sell.”
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The public float for RNA is 108.77M, and currently, short sellers hold a 9.94% ratio of that float. The average trading volume of RNA on September 12, 2024 was 1.65M shares.
RNA) stock’s latest price update
The stock of Avidity Biosciences Inc (NASDAQ: RNA) has increased by 1.37 when compared to last closing price of 40.54.Despite this, the company has seen a gain of 0.83% in its stock price over the last five trading days. 247wallst.com reported 2024-09-08 that The release of OpenAI‘s ChatGPT chatbot in November 2022 unleashed a frenzy of investor interest in artificial intelligence that propelled Nvidia (NASDAQ:NVDA) to the forefront of the industry.
Analysts’ Opinion of RNA
Many brokerage firms have already submitted their reports for RNA stocks, with Barclays repeating the rating for RNA by listing it as a “Overweight.” The predicted price for RNA in the upcoming period, according to Barclays is $63 based on the research report published on August 28, 2024 of the current year 2024.
BofA Securities, on the other hand, stated in their research note that they expect to see RNA reach a price target of $40. The rating they have provided for RNA stocks is “Buy” according to the report published on May 03rd, 2024.
Cantor Fitzgerald gave a rating of “Overweight” to RNA, setting the target price at $60 in the report published on March 14th of the current year.
RNA Trading at -5.33% 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 -15.79% of loss for the given period.
Volatility was left at 4.49%, however, over the last 30 days, the volatility rate increased by 3.73%, as shares sank -3.47% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +6.61% upper at present.
During the last 5 trading sessions, RNA rose by +1.48%, which changed the moving average for the period of 200-days by +560.78% in comparison to the 20-day moving average, which settled at $42.88. In addition, Avidity Biosciences Inc saw 354.11% 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 WILLIAM MICHAEL FLANAGAN, who proposed sale 111,394 shares at the price of $40.79 back on Sep 11 ’24. After this action, WILLIAM MICHAEL FLANAGAN now owns shares of Avidity Biosciences Inc, valued at $4,543,761 using the latest closing price.
TERESA MCCARTHY, the Officer of Avidity Biosciences Inc, proposed sale 75,000 shares at $40.79 during a trade that took place back on Sep 11 ’24, which means that TERESA MCCARTHY is holding shares at $3,059,250 based on the most recent closing price.
Stock Fundamentals for RNA
Current profitability levels for the company are sitting at:
- -26.91 for the present operating margin
- 0.69 for the gross margin
The net margin for Avidity Biosciences Inc stands at -23.82. The total capital return value is set at -0.23. Equity return is now at value -28.36, with -25.78 for asset returns.
Based on Avidity Biosciences Inc (RNA), the company’s capital structure generated 0.01 points at debt to capital in total, while cash flow to debt ratio is standing at -18.57. The debt to equity ratio resting at 0.01. The interest coverage ratio of the stock is -729.36.
Currently, EBITDA for the company is -233.5 million with net debt to EBITDA at 2.01. When we switch over and look at the enterprise to sales, we see a ratio of 402.57. The receivables turnover for the company is 0.67for trailing twelve months and the total asset turnover is 0.01. The liquidity ratio also appears to be rather interesting for investors as it stands at 15.78.
Conclusion
To put it simply, Avidity Biosciences Inc (RNA) has had a better performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
