Avidity Biosciences Inc. (RNA) 20 Days SMA touches 11.21%: The odds favor the bear

A new trading day began on January 24, 2023, with Avidity Biosciences Inc. (NASDAQ: RNA) stock priced at $21.98, up 5.29% from the previous day of trading. During the day, the shares moved up to $23.45 and dropped to $21.50 before settling in for the closing price of $22.12. RNA’s price has ranged from $9.83 to $23.57 over the past 52 weeks.


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Meanwhile, its annual earnings per share averaged -39.10%. With a float of $50.87 million, this company’s outstanding shares have now reached $53.07 million.

The firm has a total of 125 workers. Let’s measure their productivity. In terms of profitability, gross margin is +93.15, operating margin of -1265.83, and the pretax margin is -1265.38.

Avidity Biosciences Inc. (RNA) Insider Activity

As we move forward, let’s examine how large-scale investors are investing in this stock of the Biotechnology Industry. The insider ownership of Avidity Biosciences Inc. is 5.41%, while institutional ownership is 99.00%. The most recent insider transaction that took place on Jan 12, was worth 220,028. In this transaction Chief Scientific Officer of this company sold 10,000 shares at a rate of $22.00, taking the stock ownership to the 1,330 shares. Before that another transaction happened on Dec 29, when Company’s Chief Scientific Officer sold 40,000 for $22.01, making the entire transaction worth $880,568. This insider now owns 1,330 shares in total.

Avidity Biosciences Inc. (RNA) Earnings and Forecasts

In its latest quarterly report, released on 6/29/2022, the company reported earnings of -$0.92 per share, which was $0.1 lower than the consensus estimate of $0.26. In terms of return on equity, this company recorded -19.55% in contrast with 50.0% return on Investment (trailing twelve months). This company achieved a net margin of -1265.38 while generating a return on equity of -34.32. Wall Street market experts anticipate that the next fiscal year will bring earnings of -0.94 per share during the current fiscal year.

According to the Wall Street analysts, stocks earnings will be around -39.10% per share during the next fiscal year.

Avidity Biosciences Inc. (NASDAQ: RNA) Trading Performance Indicators

Here are Avidity Biosciences Inc.’s current performance indicators. According to the last quarter’s results, the stock had a quick ratio of 9.70. In addition, a publicly-traded company’s price to sales ratio for the trailing twelve months stands at 177.73.

For the trailing twelve months, Company’s Diluted EPS (Earnings per Share) is -3.26, a number that is poised to hit -0.89 in the next quarter and is forecasted to reach -3.62 in one year’s time.

Technical Analysis of Avidity Biosciences Inc. (RNA)

Analysing the last 5-days average volume posted by the [Avidity Biosciences Inc., RNA], we can find that recorded value of 0.66 million was lower than the volume posted last year of 0.83 million. As of the previous 9 days, the stock’s Stochastic %D was 90.61%. Additionally, its Average True Range was 1.57.

During the past 100 days, Avidity Biosciences Inc.’s (RNA) raw stochastic average was set at 98.83%, which indicates a significant increase from 97.14% during the past two weeks. Based on volatility metrics of the stock, it showed a historical volatility of 65.62% in the past 14 days, which was lower than the 101.36% volatility it showed in the past 100 days.

At the time of writing, stock’s 50-day Moving Average is $16.65, while its 200-day Moving Average is $16.60. Now, the first resistance to watch is $23.99. This is followed by the second major resistance level at $24.70. The third major resistance level sits at $25.94. If the price goes on to break the first support level at $22.04, it is likely to go to the next support level at $20.80. Should the price break the second support level, the third support level stands at $20.09.

Avidity Biosciences Inc. (NASDAQ: RNA) Key Stats

With a market capitalization of 1.48 billion, the company has a total of 54,463K Shares Outstanding. Currently, annual sales are 9,330 K while annual income is -118,010 K. The company’s previous quarter sales were 2,480 K while its latest quarter income was -43,600 K.

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