Avidity Biosciences Inc (NASDAQ:RNA) shares, rose in value on Thursday, March 27, with the stock price up by 1.59% to the previous day’s close as strong demand from buyers drove the stock to $32.56.
Actively observing the price movement in the last trading, the stock closed the session at $32.05, falling within a range of $32.025 and $33.13. The value of beta (5-year monthly) was 1.016. Referring to stock’s 52-week performance, its high was $56.00, and the low was $21.56. On the whole, RNA has fluctuated by 9.81% over the past month.
With the market capitalization of Avidity Biosciences Inc currently standing at about $3.91 billion, investors are eagerly awaiting this quarter’s results, scheduled for on 2025-Feb-26.
Wall Street analysts also predicted that the company’s y-o-y revenues would reach 2.62M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that RNA’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium-term indicators have put the stock in the category of 50% Sell while long-term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the price of RNA currently trading nearly 4.73% and 3.77% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 53.80, while the 7-day volatility ratio is showing 4.85% which for the 30-day chart, stands at 6.74%. Furthermore, Avidity Biosciences Inc (RNA)’s beta value is 0.98, and its average true range (ATR) is 2.00.
A comparison of Avidity Biosciences Inc (RNA) with its peers suggests the former has fared considerably weaker in the market. RNA showed an intraday change of 1.59% in last session, and over the past year, it grew by 40.41%%.
Data on historical trading for Avidity Biosciences Inc (NASDAQ:RNA) indicates that the trading volumes over the past 10 days have averaged 1.42 and over the past 3 months, they’ve averaged 1.35 million. According to company’s latest data on outstanding shares, there are 119.89 million shares outstanding.
Nearly 7.61% of Avidity Biosciences Inc’s shares belong to company insiders and institutional investors own 103.98% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 16.13 million shares as on 2025-03-14, resulting in a short ratio of 12.47. According to the data, the short interest in Avidity Biosciences Inc (RNA) stood at 1652.00 of shares outstanding as of 2025-03-14; the number of short shares registered in 2025-02-14 reached 16.48 million. The stock has risen by 11.97% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the RNA stock heading into the next quarter.
