The stock of Avidity Biosciences Inc (NASDAQ: RNA) has increased by 4.80 when compared to last closing price of 46.70.Despite this, the company has seen a gain of 6.95% in its stock price over the last five trading days. fool.com reported 2024-10-04 that The company’s most promising pipeline program can continue unabated.
Is It Worth Investing in Avidity Biosciences Inc (NASDAQ: RNA) Right Now?
The 36-month beta value for RNA is at 0.89. Analysts have varying views on the stock, with 6 analysts rating it as a “buy,” 3 rating it as “overweight,” 0 as “hold,” and 0 as “sell.”
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The public float for RNA is 108.62M, and currently, shorts hold a 13.60% of that float. The average trading volume for RNA on October 17, 2024 was 1.37M shares.
RNA’s Market Performance
The stock of Avidity Biosciences Inc (RNA) has seen a 6.95% increase in the past week, with a 16.00% rise in the past month, and a 9.31% gain in the past quarter. The volatility ratio for the week is 5.56%, and the volatility levels for the past 30 days are at 6.00% for RNA. The simple moving average for the past 20 days is 7.18% for RNA’s stock, with a 60.46% simple moving average for the past 200 days.
Analysts’ Opinion of RNA
Many brokerage firms have already submitted their reports for RNA stocks, with Goldman repeating the rating for RNA by listing it as a “Buy.” The predicted price for RNA in the upcoming period, according to Goldman is $59 based on the research report published on September 24, 2024 of the current year 2024.
Barclays, on the other hand, stated in their research note that they expect to see RNA reach a price target of $63. The rating they have provided for RNA stocks is “Overweight” according to the report published on August 28th, 2024.
BofA Securities gave a rating of “Buy” to RNA, setting the target price at $40 in the report published on May 03rd of the current year.
RNA Trading at 11.06% 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 -0.95% of loss for the given period.
Volatility was left at 6.00%, however, over the last 30 days, the volatility rate increased by 5.56%, as shares surge +9.66% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +11.71% upper at present.
During the last 5 trading sessions, RNA rose by +6.95%, which changed the moving average for the period of 200-days by +440.77% in comparison to the 20-day moving average, which settled at $45.66. In addition, Avidity Biosciences Inc saw 440.77% 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 proposed sale 22,500 shares at the price of $46.60 back on Oct 16 ’24. After this action, LEVIN ARTHUR A now owns shares of Avidity Biosciences Inc, valued at $1,048,500 using the latest closing price.
Thompson Tamar, the Director of Avidity Biosciences Inc, sale 30,000 shares at $44.98 during a trade that took place back on Oct 07 ’24, which means that Thompson Tamar is holding 0 shares at $1,349,259 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 487.27. 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
In conclusion, Avidity Biosciences Inc (RNA) has had a better performance lately. Opinion on the stock among analysts is bullish, with some giving it a “buy” rating and others 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.
