Equities Analysts Set Expectations for RNA Q1 Earnings

Avidity Biosciences, Inc. (NASDAQ:RNA) – Stock analysts at Leerink Partnrs reduced their Q1 2025 earnings per share (EPS) estimates for shares of Avidity Biosciences in a research report issued on Monday, January 20th. Leerink Partnrs analyst J. Schwartz now forecasts that the biotechnology company will post earnings of ($0.88) per share for the quarter, down from their previous forecast of ($0.84). The consensus estimate for Avidity Biosciences’ current full-year earnings is ($2.89) per share. Leerink Partnrs also issued estimates for Avidity Biosciences’ Q2 2025 earnings at ($0.93) EPS, Q3 2025 earnings at ($0.99) EPS, Q4 2025 earnings at ($1.05) EPS, FY2025 earnings at ($3.84) EPS and FY2026 earnings at ($4.82) EPS.

Other analysts have also issued reports about the stock. Needham & Company LLC reiterated a “buy” rating and set a $60.00 price target on shares of Avidity Biosciences in a research note on Wednesday, November 13th. HC Wainwright reaffirmed a “buy” rating and set a $72.00 price objective on shares of Avidity Biosciences in a research report on Friday, January 10th. The Goldman Sachs Group began coverage on Avidity Biosciences in a research report on Tuesday, September 24th. They issued a “buy” rating and a $59.00 price target on the stock. TD Cowen boosted their price objective on Avidity Biosciences from $56.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $67.00 target price on shares of Avidity Biosciences in a report on Tuesday. Ten 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 an average price target of $65.80.

Avidity Biosciences Stock Up 6.6 %

Shares of Avidity Biosciences stock opened at $30.84 on Wednesday. The business’s fifty day simple moving average is $35.22 and its 200-day simple moving average is $41.25. Avidity Biosciences has a 52 week low of $9.93 and a 52 week high of $56.00.

Avidity Biosciences (NASDAQ:RNA) last posted its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.65) earnings per share 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 firm had revenue of $2.34 million for the quarter, compared to the consensus estimate of $7.09 million.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. National Bank of Canada FI acquired a new position in shares of Avidity Biosciences during the third quarter valued at $27,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Avidity Biosciences during the third quarter worth approximately $30,000. Values First Advisors Inc. bought a new position in Avidity Biosciences in the 3rd quarter worth approximately $32,000. Quarry LP grew its holdings in Avidity Biosciences by 566.7% in the 2nd quarter. Quarry LP now owns 2,000 shares of the biotechnology company’s stock worth $82,000 after buying an additional 1,700 shares in the last quarter. Finally, Quest Partners LLC increased its position in Avidity Biosciences by 217.8% in the 3rd quarter. Quest Partners LLC now owns 2,031 shares of the biotechnology company’s stock valued at $93,000 after acquiring an additional 1,392 shares during the period.

Insider Buying and Selling at Avidity Biosciences

In related news, insider Teresa Mccarthy sold 25,000 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $41.14, for a total transaction of $1,028,500.00. Following the transaction, the insider now directly owns 94,018 shares in the company, valued at $3,867,900.52. This trade represents a 21.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Arthur A. Levin sold 3,323 shares of Avidity Biosciences stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $42.12, for a total transaction of $139,964.76. Following the completion of the transaction, the director now directly owns 14,830 shares of the company’s stock, valued at approximately $624,639.60. This represents a 18.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 133,071 shares of company stock valued at $4,679,174 over the last 90 days. 3.68% of the stock is owned by corporate insiders.

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.