Evercore ISI upgraded shares of Avidity Biosciences (NASDAQ:RNA – Get Rating) from an in-line rating to an outperform rating in a research note issued to investors on Monday, The Fly reports. They currently have $20.00 price target on the biotechnology company’s stock.
Several other research analysts also recently issued reports on RNA. Credit Suisse Group reduced their price target on shares of Avidity Biosciences from $35.00 to $30.00 and set an outperform rating on the stock in a research report on Friday, March 31st. Chardan Capital reissued a buy rating and set a $27.00 price objective on shares of Avidity Biosciences in a report on Friday, March 31st. Wells Fargo & Company dropped their price objective on Avidity Biosciences from $55.00 to $50.00 in a report on Thursday, May 11th. 1-800-FLOWERS.COM reissued a reiterates rating on shares of Avidity Biosciences in a report on Friday, April 28th. Finally, Needham & Company LLC reissued a buy rating and set a $35.00 price objective on shares of Avidity Biosciences in a report on Wednesday, March 1st. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Buy and an average price target of $38.83.
Avidity Biosciences Stock Performance
Shares of NASDAQ:RNA opened at $10.93 on Monday. Avidity Biosciences has a 52 week low of $9.83 and a 52 week high of $25.74. The company’s fifty day moving average is $14.57 and its 200-day moving average is $17.65. The company has a market capitalization of $774.06 million, a PE ratio of -3.25 and a beta of -0.10.
Institutional Investors Weigh In On Avidity Biosciences
Several hedge funds have recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. bought a new position in Avidity Biosciences during the 3rd quarter worth $26,000. Great West Life Assurance Co. Can bought a new position in Avidity Biosciences during the 3rd quarter worth $31,000. Belpointe Asset Management LLC bought a new position in Avidity Biosciences during the 4th quarter worth $44,000. Quantbot Technologies LP increased its position in Avidity Biosciences by 600.0% during the 2nd quarter. Quantbot Technologies LP now owns 2,100 shares of the biotechnology company’s stock worth $30,000 after buying an additional 1,800 shares during the period. Finally, Daiwa Securities Group Inc. increased its position in Avidity Biosciences by 2,964.1% during the 3rd quarter. Daiwa Securities Group Inc. now owns 4,780 shares of the biotechnology company’s stock worth $78,000 after buying an additional 4,624 shares during the period.
About Avidity Biosciences
Avidity Biosciences, Inc, a biopharmaceutical company, engages in the development of oligonucleotide-based therapies. It develops antibody oligonucleotide conjugates (AOC) that are designed to treat a range of serious diseases. The company's lead product candidate AOC 1001 is used for the treatment of myotonic dystrophy type 1, a rare monogenic muscle disease; AOC 1044 for the treatment of Duchenne Muscular Dystrophy; and AOC 1020 designed to treat facioscapulohumeral muscular dystrophy which are in preclinical stage.
- Get a free copy of the StockNews.com research report on Avidity Biosciences (RNA)
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