The 36-month beta value for RNA is also noteworthy at 0.94. There are mixed opinions on the stock, with 8 analysts rating it as a “buy,” 3 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
The public float for RNA is 108.62M, and at present, short sellers hold a 13.50% of that float. The average trading volume of RNA on November 18, 2024 was 1.32M shares.
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RNA) stock’s latest price update
Avidity Biosciences Inc (NASDAQ: RNA)’s stock price has gone decline by -15.59 in comparison to its previous close of 49.97, however, the company has experienced a -9.72% decrease in its stock price over the last five trading days. zacks.com reported 2024-11-14 that Avidity Biosciences expands its pipeline to include two new drugs targeting rare genetic cardiomyopathies.
RNA’s Market Performance
RNA’s stock has fallen by -9.72% in the past week, with a monthly drop of -13.07% and a quarterly drop of -7.09%. The volatility ratio for the week is 11.59% while the volatility levels for the last 30 days are 6.62% for Avidity Biosciences Inc The simple moving average for the past 20 days is -8.03% for RNA’s stock, with a 22.67% 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 -6.81% 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 -24.68% of loss for the given period.
Volatility was left at 6.62%, however, over the last 30 days, the volatility rate increased by 11.59%, as shares sank -16.39% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +4.25% upper at present.
During the last 5 trading sessions, RNA fell by -9.72%, which changed the moving average for the period of 200-days by +247.45% in comparison to the 20-day moving average, which settled at $45.86. In addition, Avidity Biosciences Inc saw 366.08% 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 MacLean Michael F, who sale 106,319 shares at the price of $45.56 back on Nov 06 ’24. After this action, MacLean Michael F now owns 94,093 shares of Avidity Biosciences Inc, valued at $4,843,979 using the latest closing price.
MICHAEL MACLEAN, the Officer of Avidity Biosciences Inc, proposed sale 106,319 shares at $45.09 during a trade that took place back on Nov 06 ’24, which means that MICHAEL MACLEAN is holding shares at $4,793,924 based on the most recent closing price.
Stock Fundamentals for RNA
Current profitability levels for the company are sitting at:
- -32.09 for the present operating margin
- 0.81 for the gross margin
The net margin for Avidity Biosciences Inc stands at -27.72. The total capital return value is set at -0.21. Equity return is now at value -27.76, with -25.34 for asset returns.
Currently, EBITDA for the company is -233.5 million with net debt to EBITDA at 1.12. When we switch over and look at the enterprise to sales, we see a ratio of 461.59. The receivables turnover for the company is 0.53for 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 17.76.
Conclusion
In summary, Avidity Biosciences Inc (RNA) has had a mixed performance as of late. Analysts have bullish opinions on the stock, with some viewing 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.
