Leerink Partnrs Has Pessimistic Outlook of RNA Q1 Earnings

Avidity Biosciences, Inc. (NASDAQ:RNA) – Leerink Partnrs reduced their Q1 2025 earnings per share (EPS) estimates for Avidity Biosciences in a note issued to investors on Monday, January 20th. Leerink Partnrs analyst J. Schwartz now expects that the biotechnology company will post earnings of ($0.88) per share for the quarter, down from their prior 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.

Avidity Biosciences (NASDAQ:RNA) last released its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.65) EPS for the quarter, topping the consensus estimate of ($0.79) by $0.14. Avidity Biosciences had a negative return on equity of 27.66% and a negative net margin of 2,772.45%. The business had revenue of $2.34 million during the quarter, compared to analyst estimates of $7.09 million.

Several other research analysts have also commented on the stock. HC Wainwright reissued a “buy” rating and issued a $72.00 price objective on shares of Avidity Biosciences in a research note on Friday, January 10th. Chardan Capital reissued a “buy” rating and issued a $65.00 price target on shares of Avidity Biosciences in a research report on Wednesday, November 13th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $67.00 price objective on shares of Avidity Biosciences in a research report on Tuesday. Needham & Company LLC reiterated a “buy” rating and issued a $60.00 target price on shares of Avidity Biosciences in a report on Wednesday, November 13th. Finally, TD Cowen upped their price target on Avidity Biosciences from $56.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, Avidity Biosciences currently has an average rating of “Buy” and an average target price of $65.80.

Avidity Biosciences Price Performance

NASDAQ RNA opened at $30.08 on Wednesday. The company has a market cap of $3.59 billion, a P/E ratio of -10.44 and a beta of 0.99. The stock has a 50-day moving average of $34.78 and a two-hundred day moving average of $41.17. Avidity Biosciences has a 1-year low of $9.93 and a 1-year high of $56.00.

Institutional Trading of Avidity Biosciences

Institutional investors and hedge funds have recently made changes to their positions in the company. Lord Abbett & CO. LLC boosted its stake in Avidity Biosciences by 30.1% during the 3rd quarter. Lord Abbett & CO. LLC now owns 539,207 shares of the biotechnology company’s stock worth $24,766,000 after purchasing an additional 124,867 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Avidity Biosciences by 24.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 990,182 shares of the biotechnology company’s stock valued at $45,479,000 after buying an additional 197,065 shares during the last quarter. RA Capital Management L.P. boosted its stake in shares of Avidity Biosciences by 16.7% during the third quarter. RA Capital Management L.P. now owns 6,300,408 shares of the biotechnology company’s stock worth $289,378,000 after buying an additional 900,000 shares during the period. D. E. Shaw & Co. Inc. grew its holdings in shares of Avidity Biosciences by 2,263.7% during the second quarter. D. E. Shaw & Co. Inc. now owns 739,039 shares of the biotechnology company’s stock worth $30,190,000 after buying an additional 707,773 shares during the last quarter. Finally, Darwin Global Management Ltd. acquired a new position in Avidity Biosciences in the 2nd quarter valued at about $8,108,000.

Insiders Place Their Bets

In related news, insider W. Michael Flanagan sold 12,742 shares of Avidity Biosciences stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $32.66, for a total transaction of $416,153.72. Following the sale, the insider now directly owns 72,647 shares in the company, valued at $2,372,651.02. This trade represents a 14.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arthur A. Levin sold 3,323 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were 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 owns 14,830 shares of the company’s stock, valued at $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 in the last ninety days. Insiders own 3.68% of the company’s stock.

Avidity Biosciences Company Profile

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.