Cantor Fitzgerald Comments on RNA FY2025 Earnings

Avidity Biosciences, Inc. (NASDAQ:RNA) – Research analysts at Cantor Fitzgerald issued their FY2025 earnings per share estimates for shares of Avidity Biosciences in a report issued on Tuesday, January 21st. Cantor Fitzgerald analyst E. Schmidt forecasts that the biotechnology company will post earnings per share of ($2.85) for the year. The consensus estimate for Avidity Biosciences’ current full-year earnings is ($2.89) per share.

Avidity Biosciences (NASDAQ:RNA) last announced its quarterly earnings data on Thursday, November 7th. The biotechnology company reported ($0.65) EPS for the quarter, topping the consensus estimate of ($0.79) by $0.14. Avidity Biosciences had a negative net margin of 2,772.45% and a negative return on equity of 27.66%. The business had revenue of $2.34 million for the quarter, compared to analyst estimates of $7.09 million.

Other research analysts also recently issued research reports about the company. HC Wainwright reiterated a “buy” rating and set a $72.00 price target on shares of Avidity Biosciences in a research note on Friday, January 10th. Chardan Capital reiterated a “buy” rating and issued a $65.00 target price on shares of Avidity Biosciences in a research note on Wednesday, November 13th. Royal Bank of Canada reissued an “outperform” rating and issued a $67.00 price target on shares of Avidity Biosciences in a research report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Avidity Biosciences in a report on Wednesday, November 13th. Finally, TD Cowen boosted their target price on shares of Avidity Biosciences from $56.00 to $78.00 and gave the company a “buy” rating in a report on Monday, October 21st. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Avidity Biosciences currently has an average rating of “Buy” and a consensus price target of $65.80.

Avidity Biosciences Price Performance

Shares of NASDAQ RNA opened at $30.84 on Wednesday. The stock has a fifty day simple moving average of $35.22 and a two-hundred day simple moving average of $41.25. Avidity Biosciences has a 1-year low of $9.93 and a 1-year high of $56.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Lord Abbett & CO. LLC grew its position in shares of Avidity Biosciences by 30.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 539,207 shares of the biotechnology company’s stock worth $24,766,000 after buying an additional 124,867 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Avidity Biosciences by 24.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 990,182 shares of the biotechnology company’s stock worth $45,479,000 after purchasing an additional 197,065 shares during the period. RA Capital Management L.P. grew its stake in Avidity Biosciences by 16.7% in the third quarter. RA Capital Management L.P. now owns 6,300,408 shares of the biotechnology company’s stock worth $289,378,000 after purchasing an additional 900,000 shares during the period. D. E. Shaw & Co. Inc. lifted its position in Avidity Biosciences by 2,263.7% during the second quarter. D. E. Shaw & Co. Inc. now owns 739,039 shares of the biotechnology company’s stock valued at $30,190,000 after buying an additional 707,773 shares during the period. Finally, Darwin Global Management Ltd. bought a new stake in shares of Avidity Biosciences during the 2nd quarter valued at $8,108,000.

Insider Buying and Selling

In related news, insider W. Michael Flanagan sold 24,000 shares of Avidity Biosciences stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $35.77, for a total value of $858,480.00. Following the transaction, the insider now owns 85,389 shares in the company, valued at $3,054,364.53. This trade represents a 21.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arthur A. Levin sold 3,323 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $42.12, for a total value of $139,964.76. Following the completion of the sale, the director now directly owns 14,830 shares of the company’s stock, valued at approximately $624,639.60. This trade represents a 18.31 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 133,071 shares of company stock worth $4,679,174. Corporate insiders own 3.68% of the company’s stock.

About Avidity Biosciences

Avidity Biosciences, Inc, a biopharmaceutical company, engages in the delivery of RNA therapeutics. It develops antibody oligonucleotide conjugates (AOC) that are designed to treat diseases previously untreatable with RNA therapeutics. The company's lead product candidate AOC 1001 for the treatment of myotonic dystrophy type 1, a rare monogenic muscle disease that is in phase 1/2 clinical trial.