The stock of Avidity Biosciences Inc (NASDAQ:RNA) last traded at $45.65, up 2.29% from the previous session.
RNA stock price is now 4.32% away from the 50-day moving average and 70.50% away from the 200-day moving average. The market capitalization of the company currently stands at $5.35B.
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With the price target of $63, Barclays recently initiated with Overweight rating for Avidity Biosciences Inc (NASDAQ: RNA). On May 03, 2024, BofA Securities recently initiated its ‘Buy’ rating on the stock quoting a target price of $40, while ‘Cantor Fitzgerald’ rates the stock as ‘Overweight’
In other news, Flanagan W. Michael, CSTO sold 111,394 shares of the company’s stock on Sep 11 ’24. The stock was sold for $4,500,244 at an average price of $40.40. Upon completion of the transaction, the CSTO now directly owns 60,871 shares in the company, valued at $2.78 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 11 ’24, Chief Human Resources Officer McCarthy Teresa sold 25,000 shares of the business’s stock. A total of $1,010,042 was realized by selling the stock at an average price of $40.40. This leaves the insider owning 57,171 shares of the company worth $2.61 million. A total of 7.11% of the company’s stock is owned by insiders.
During the past 12 months, Avidity Biosciences Inc has had a low of $4.82 and a high of $48.80. As of last week, the company has a debt-to-equity ratio of 0.01, a current ratio of 15.78, and a quick ratio of 15.78. The fifty day moving average price for RNA is $43.8233 and a two-hundred day moving average price translates $26.9612 for the stock.
The latest earnings results from Avidity Biosciences Inc (NASDAQ: RNA) was released for 2024-06-30. The net profit margin was -2381.82% and return on equity was -28.36% for RNA. The company reported revenue of $2.04 million for the quarter, compared to $2.32 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -11.7 percent.
