Avidity Biosciences Inc [NASDAQ: RNA] surged by $2.44 during the normal trading session on while it closed the day at $44.63.
Avidity Biosciences Inc stock has also gained 10.09% of its value over the past 7 days. However, RNA stock has inclined by 16.44% in the 3 months of the year. Over the past six months meanwhile, it has gained 87.60% and gained 393.15% year-on date.
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The market cap for RNA stock reached $5.23 billion, with 117.12 million shares outstanding and 108.79 million shares in the current float. Compared to the average trading volume of 1.42M shares, RNA reached a trading volume of 4715296 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 $66.80 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 1.10. 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.
Barclays have made an estimate for Avidity Biosciences Inc shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on August 28, 2024. While these analysts kept the previous recommendation, BofA Securities raised their target price to Buy. The new note on the price target was released on May 03, 2024, representing the official price target for Avidity Biosciences Inc stock. Previously, the target price had yet another raise to $60, while Cantor Fitzgerald analysts kept a Overweight rating on RNA stock.
The Average True Range (ATR) for Avidity Biosciences Inc is set at 1.98, with the Price to Sales ratio for RNA stock in the period of the last 12 months amounting to 493.12. The Price to Book ratio for the last quarter was 3.99, with the Price to Cash per share for the same quarter was set at 11.09.
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 10.09. With this latest performance, RNA shares dropped by -1.70% in over the last four-week period, additionally plugging by 87.60% over the last 6 months – not to mention a rise of 541.24% 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 58.75, with the RSI for the last a single of trading hit 66.79, and the three-weeks RSI is set at 56.18 for Avidity Biosciences Inc [RNA]. The present Moving Average for the last 50 days of trading for this stock 43.76, while it was recorded at 42.32 for the last single week of trading, and 26.77 for the last 200 days.
Avidity Biosciences Inc [RNA]: An insightful look at the core fundamentals
Avidity Biosciences Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 15.78 and a Current Ratio set at 15.78.
Avidity Biosciences Inc [RNA]: Institutional Ownership
There are presently around $97.18%, or 102.16%% of RNA stock, in the hands of institutional investors. The top three institutional holders of RNA stocks are: FMR LLC with ownership of 16.16 million shares, which is approximately 18.5285%. PRICE T ROWE ASSOCIATES INC /MD/, holding 10.92 million shares of the stock with an approximate value of $$445.94 million in RNA stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $$359.76 million in RNA stock with ownership which is approximately 10.0982%.
