Avidity Biosciences Inc (NASDAQ:RNA) traded at $24.36 at close of the session on Friday, April 26, made an upward move of 2.22% on its previous day’s price.
Looking at the stock we see that its previous close was $23.83 . In terms of its 52-week price range, RNA has a high of $27.66 and a low of $4.82. The company’s stock has lost about -1.26% over that past 30 days.
Avidity Biosciences Inc has a market cap of $1.94 billion. Estimates by analysts give the company expected earnings per share (EPS) of -$0.78, with the EPS growth for the year raised at -$3.2 for 2024 and -$3.53 for next year. These figures represent -10.00% and -10.30% growth in EPS for the two years respectively.
Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $2.93 million, with a high of $7.09 million. The median projection represents growth squeezing down to 31.20% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2024 is expected to hit $10.24 million, or 7.10% up from figures reported last year.
On the other hand, looking at the outlook for the RNA stock, short term indicators assign the stock an average of 50% Buy, while medium term indicators assign it an average of 100% Buy. Long term indicators on average place the stock in the category of 100% Buy.
Looking further, we note the current price level is -1.54% off its SMA20 and 12.30% from its 50-day simple moving average. The RSI (14) is pointing at 53.79 while the volatility over the past week is 6.79% and jumps to 6.82% over the past one month. The beta value is 0.79, while the average true range (ATR) is currently pointing at 1.51.
Coming back to Avidity Biosciences Inc (NASDAQ:RNA), we note that the average 3-month trading volume was 1.20 million. Current shares outstanding are 79.28 million.
The insiders hold 10.48% of the company’s shares while institutions hold 98.49%. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock 169.17% up in year-to-date price movement.
