Recent Research Analysts’ Ratings Updates for Avidity Biosciences (RNA)

A number of firms have modified their ratings and price targets on shares of Avidity Biosciences (NASDAQ: RNA) recently:

• 3/17/2025 – Avidity Biosciences had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $60.00 price target on the stock.
• 3/17/2025 – Avidity Biosciences had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $72.00 price target on the stock.
• 3/17/2025 – Avidity Biosciences had its “buy” rating reaffirmed by analysts at Chardan Capital. They now have a $65.00 price target on the stock.
• 3/13/2025 – Avidity Biosciences is now covered by analysts at Citigroup Inc.. They set a “buy” rating and a $70.00 price target on the stock.
• 3/12/2025 – Avidity Biosciences is now covered by analysts at BMO Capital Markets. They set an “outperform” rating and a $72.00 price target on the stock.
• 3/10/2025 – Avidity Biosciences had its price target lowered by analysts at Bank of America Co. from $51.00 to $48.00. They now have a “buy” rating on the stock.
• 3/7/2025 – Avidity Biosciences is now covered by analysts at Scotiabank. They set a “sector outperform” rating and a $70.00 price target on the stock.
• 2/28/2025 – Avidity Biosciences had its price target lowered by analysts at Barclays PLC from $63.00 to $57.00. They now have an “overweight” rating on the stock.
• 2/28/2025 – Avidity Biosciences had its “buy” rating reaffirmed by analysts at Chardan Capital. They now have a $65.00 price target on the stock.

Avidity Biosciences Stock Down 3.8 %

NASDAQ:RNA traded down $1.27 during trading hours on Tuesday, hitting $32.03. 248,995 shares of the stock were exchanged, compared to its average volume of 1,317,973. The company’s 50 day moving average is $31.21 and its two-hundred day moving average is $37.39. The company has a market capitalization of $3.85 billion, a P/E ratio of -11.12 and a beta of 1.02. Avidity Biosciences, Inc. has a twelve month low of $21.56 and a twelve month high of $56.00.

Avidity Biosciences (NASDAQ:RNA) last announced its quarterly earnings data on Thursday, February 27th. The biotechnology company reported ($0.80) EPS for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.04). Avidity Biosciences had a negative return on equity of 27.66% and a negative net margin of 2,772.45%. The company had revenue of $2.97 million for the quarter, compared to analyst estimates of $1.74 million. On average, equities research analysts expect that Avidity Biosciences, Inc. will post -2.89 EPS for the current year.

Insider Activity at Avidity Biosciences

In related news, insider Steven George Hughes sold 9,578 shares of the firm’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $31.06, for a total transaction of $297,492.68. Following the sale, the insider now directly owns 72,850 shares in the company, valued at $2,262,721. This trade represents a 11.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sarah Boyce sold 10,397 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $28.59, for a total transaction of $297,250.23. Following the completion of the sale, the chief executive officer now directly owns 337,411 shares in the company, valued at $9,646,580.49. This represents a 2.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 73,443 shares of company stock worth $2,241,889. 3.68% of the stock is currently owned by company insiders.

Institutional Trading of Avidity Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the company. Y Intercept Hong Kong Ltd bought a new position in shares of Avidity Biosciences during the fourth quarter worth about $386,000. Lord Abbett & CO. LLC grew its stake in shares of Avidity Biosciences by 30.1% during the 3rd quarter. Lord Abbett & CO. LLC now owns 539,207 shares of the biotechnology company’s stock worth $24,766,000 after acquiring an additional 124,867 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of 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 valued at $45,479,000 after purchasing an additional 197,065 shares during the last quarter. RA Capital Management L.P. lifted its position in shares of 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 in the last quarter. Finally, FMR LLC boosted its holdings in Avidity Biosciences by 4.3% during the third quarter. FMR LLC now owns 16,848,776 shares of the biotechnology company’s stock worth $773,864,000 after purchasing an additional 689,729 shares during the last quarter.

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.