Analysts Offer Predictions for RNA FY2026 Earnings

Avidity Biosciences, Inc. (NASDAQ:RNA) – Cantor Fitzgerald issued their FY2026 earnings per share estimates for Avidity Biosciences in a report released on Monday, June 9th. Cantor Fitzgerald analyst E. Schmidt expects that the biotechnology company will post earnings of ($5.15) per share for the year. The consensus estimate for Avidity Biosciences’ current full-year earnings is ($2.89) per share.

Other analysts have also recently issued reports about the company. Chardan Capital upped their target price on Avidity Biosciences from $65.00 to $75.00 and gave the company a “buy” rating in a report on Monday. Citigroup upped their target price on Avidity Biosciences from $70.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday. Barclays upped their target price on Avidity Biosciences from $57.00 to $59.00 and gave the company an “overweight” rating in a report on Tuesday. Scotiabank initiated coverage on Avidity Biosciences in a report on Friday, March 7th. They set a “sector outperform” rating and a $70.00 price target for the company. Finally, Needham & Company LLC reiterated a “buy” rating and set a $60.00 price target on shares of Avidity Biosciences in a report on Wednesday, April 9th. Fourteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Avidity Biosciences presently has an average rating of “Buy” and an average target price of $67.33.

Avidity Biosciences Stock Down 4.8%

Shares of NASDAQ:RNA opened at $32.01 on Wednesday. The business has a fifty day moving average of $29.71 and a two-hundred day moving average of $31.35. The stock has a market cap of $3.86 billion, a P/E ratio of -11.11 and a beta of 0.95. Avidity Biosciences has a 52-week low of $21.51 and a 52-week high of $56.00.

Avidity Biosciences (NASDAQ:RNA) last issued its earnings results on Thursday, May 8th. The biotechnology company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.88) by ($0.02). The company had revenue of $1.60 million during the quarter, compared to analysts’ expectations of $2.63 million. Avidity Biosciences had a negative net margin of 2,772.45% and a negative return on equity of 27.66%.

Insider Activity at Avidity Biosciences

In other news, insider Kathleen P. Gallagher sold 5,875 shares of Avidity Biosciences stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $27.83, for a total value of $163,501.25. Following the completion of the transaction, the insider now owns 50,554 shares in the company, valued at approximately $1,406,917.82. This trade represents a 10.41% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sarah Boyce sold 31,540 shares of Avidity Biosciences stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $31.06, for a total value of $979,632.40. Following the completion of the transaction, the chief executive officer now owns 305,871 shares of the company’s stock, valued at $9,500,353.26. The trade was a 9.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,678 shares of company stock worth $2,068,257 in the last three months. 3.83% of the stock is owned by company insiders.

Hedge Funds Weigh In On Avidity Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in RNA. Janus Henderson Group PLC boosted its stake in shares of Avidity Biosciences by 44.1% in the 4th quarter. Janus Henderson Group PLC now owns 7,053,010 shares of the biotechnology company’s stock valued at $205,134,000 after buying an additional 2,156,844 shares during the period. Boxer Capital Management LLC acquired a new position in Avidity Biosciences in the fourth quarter valued at approximately $50,232,000. Wellington Management Group LLP increased its stake in Avidity Biosciences by 19.5% in the first quarter. Wellington Management Group LLP now owns 9,684,556 shares of the biotechnology company’s stock valued at $285,888,000 after purchasing an additional 1,578,459 shares during the last quarter. T. Rowe Price Investment Management Inc. acquired a new stake in Avidity Biosciences during the first quarter worth approximately $22,765,000. Finally, Norges Bank acquired a new stake in Avidity Biosciences during the fourth quarter worth approximately $21,077,000.

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.