Avidity Biosciences Inc. [NASDAQ: RNA] surged by $6.07 during the normal trading session on Wednesday and reaching a high of $21.23 during the day while it closed the day at $17.05. The company report on December 14, 2022 that Avidity Announces Positive AOC 1001 Phase 1/2 MARINA™ Data Demonstrating First-Ever Successful Targeted Delivery of RNA to Muscle – Revolutionary Advancement for the Field of RNA Therapeutics.
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AOC 1001 delivered siRNA to skeletal muscle and produced meaningful DMPK reduction in 100% of participants with a 45% mean reduction in DMPK after a single dose of 1 mg/kg or two doses of 2 mg/kg.
AOC 1001 produced splicing improvement of 31% in a key set of muscle-specific genes in people with DM1, with a splicing improvement of 16% across a broad 22-gene panel.
Avidity Biosciences Inc. stock has also gained 63.31% of its value over the past 7 days. However, RNA stock has declined by -19.58% in the 3 months of the year. Over the past six months meanwhile, it has gained 41.73% and lost -28.27% year-on date.
The market cap for RNA stock reached $965.20 million, with 53.07 million shares outstanding and 50.87 million shares in the current float. Compared to the average trading volume of 620.57K shares, RNA reached a trading volume of 43769819 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Avidity Biosciences Inc. [RNA]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RNA shares is $37.86 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RNA stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Chardan Capital Markets have made an estimate for Avidity Biosciences Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 20, 2022. While these analysts kept the previous recommendation, Raymond James raised their target price to Strong Buy. The new note on the price target was released on July 12, 2022, representing the official price target for Avidity Biosciences Inc. stock. Previously, the target price had yet another raise to $50, while Evercore ISI analysts kept a Outperform rating on RNA stock.
The Average True Range (ATR) for Avidity Biosciences Inc. is set at 1.66, with the Price to Sales ratio for RNA stock in the period of the last 12 months amounting to 116.29. The Price to Book ratio for the last quarter was 2.40, with the Price to Cash per share for the same quarter was set at 7.16.
RNA stock trade performance evaluation
Avidity Biosciences Inc. [RNA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 63.31. With this latest performance, RNA shares gained by 15.12% in over the last four-week period, additionally plugging by 41.73% over the last 6 months – not to mention a drop of -30.83% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for RNA stock in for the last two-week period is set at 69.02, with the RSI for the last a single of trading hit 76.31, and the three-weeks RSI is set at 63.12 for Avidity Biosciences Inc. [RNA]. The present Moving Average for the last 50 days of trading for this stock 13.70, while it was recorded at 12.36 for the last single week of trading, and 16.23 for the last 200 days.
Avidity Biosciences Inc. [RNA]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Avidity Biosciences Inc. [RNA] shares currently have an operating margin of -1265.83 and a Gross Margin at +93.15. Avidity Biosciences Inc.’s Net Margin is presently recorded at -1265.38.
Return on Equity for this stock declined to -34.32, with Return on Assets sitting at -30.99.
Avidity Biosciences Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 9.70 and a Current Ratio set at 9.70.
Avidity Biosciences Inc. [RNA]: Insider Ownership positions
There are presently around $911 million, or 99.10% of RNA stock, in the hands of institutional investors. The top three institutional holders of RNA stocks are: RTW INVESTMENTS, LP with ownership of 5,170,784, which is approximately 7.837% of the company’s market cap and around 6.60% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 5,169,023 shares of the stock with an approximate value of $88.13 million in RNA stocks shares; and BLACKROCK INC., currently with $70.27 million in RNA stock with ownership of nearly 4.832% of the company’s market capitalization.
Positions in Avidity Biosciences Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 70 institutional holders increased their position in Avidity Biosciences Inc. [NASDAQ:RNA] by around 7,559,755 shares. Additionally, 46 investors decreased positions by around 6,411,489 shares, while 25 investors held positions by with 39,448,397 shares. The mentioned changes placed institutional holdings at 53,419,641 shares, according to the latest SEC report filing. RNA stock had 27 new institutional investments in for a total of 3,157,084 shares, while 15 institutional investors sold positions of 1,857,222 shares during the same period.