Investing In Avidity Biosciences Inc (NASDAQ: RNA): Why Should You?

After Hours

The risks associated with pre-market and after-hours trading may be slightly higher than the regular market hours. The reason is that extended-hours trading may result in wider spreads for particular security due to lower liquidity and higher volatility as issuers often announce critical financial information outside regular trading hours. Earlier, Yahoo Finance discussed this stock as it revealed Avidity Biosciences Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4).

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Stocks Info

The company is listed on the NASDAQ and operates within the Biotechnology industry segment. The current market capitalization of Avidity Biosciences Inc is $1.08B. A total of 0.59 million shares were traded on the day, compared to an average of 1.46M shares.

Insider Activity

Furthermore, investors take into consideration insider trades when predicting a stock’s future trajectory. During the recent three months, RNA has seen 0 BUY and 0 SELL insider trades, representing the acquisition of 0 and the disposition of 0 shares. Over the last 12 months, there were 1 BUYs and 1 SELLs from insiders. Insiders purchased 100 shares during that period but sold 100.

In the most recent transaction, Boyce Sarah sold 5,092 shares of RNA for 10.13 per share on Jan 22. After the transaction, the President and CEO now owns 44,008 company shares. In a previous transaction on Jan 22, Flanagan W. Michael sold 4,129 shares at 10.13 per share. RNA shares that CSTO owns now total 35,871.

Among the insiders who sold shares, McCarthy Teresa disposed of 2,065 shares on Jan 22 at a per-share price of $10.13. This resulted in the Chief Human Resources Officer holding 17,035 shares of RNA after the transaction. In another insider transaction, LEVIN ARTHUR A sold 1,859 shares at $10.13 per share on Jan 22. Company shares held by the Director now total 17,471.

It has been observed that price targets are rarely accurate, but they can exert some influence from time to time, and are often accepted as valuable in the market. According to analysts who have offered 12-month price targets for RNA in the last 3 months, the mean price target is $37.50 with high estimates of $71.00 and low estimates of $18.00. In terms of 52-week highs and lows, RNA has a high of $25.38 and a low of $4.82.

As of this writing, RNA has an earnings estimate of -$0.66 per share for the current quarter. EPS was calculated based on a consensus of 6 estimates, with a high estimate of $0.07 per share and a lower estimate of -$0.88. The company reported an EPS of -$0.66 in the last quarter, which was 17.50% higher than expectations of -$0.8.

Balance Sheet Annually/Quarterly

An equity investor’s investment can be viewed on a balance sheet by looking at what assets and liabilities the company has. Investors can determine the company’s prospects by calculating its financial ratios based on this information. RNA’s latest balance sheet shows that the firm has $405.54M in Cash & Short Term Investments as of fiscal 2021. There were $11.73M in debt and $29.66M in liabilities at the time. Its Book Value Per Share was $6.98, while its Total Shareholder’s Equity was $381.43M.

Analysts Opinion

There may be slightly higher risks associated with pre-market and after-hours trading than during regular market hours. Due to the fact that issuers often announce critical financial information outside of regular trading hours, extended-hours trading may result in wider spreads for particular securities. Currently, 0 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for RNA is Buy with a score of 4.83.

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