Streetbeat News

RNA

Avidity Biosciences, Inc.

https://www.aviditybiosciences.com

Industry

Biotechnology

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. It also offers Lumizyme therapy for Pompe diseases. Avidity Biosciences, Inc. was incorporated in 2012 and is headquartered in San Diego, California.

Open

32.44

Mkt cap

3.7B

Volume

1.4M

High

33.16

P/E Ratio

-10.76

52-wk high

56.00

Low

30.91

Div yield

N/A

52-wk low

21.56

Avidity Biosciences announced promising data for del-zota (delpacibart zotadirsen), showing potential to change the treatment paradigm for Duchenne Muscular Dystrophy (DMD) mutations amenable to exon 44 skipping. The treatment demonstrated favorable safety, tolerability, and significant increases in dystrophin production.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2024 | 11:16 am

GeneDx Holdings Corp. (NASDAQ:WGS) has led the Russell 2000 Index in 2024 with a 1,101% increase in share price, driven by a shift to more comprehensive genetic testing. Goldman Sachs has raised its price target for GeneDx from $12.50 to $28, maintaining a Neutral rating. Other top performers include Corbus Holdings Inc. (NASDAQ:CRBP) and Root, Inc. (NASDAQ:ROOT).

Portfolio Pulse from Michael Juliano

July 18, 2024 | 5:36 pm

June saw significant performance disparities across sectors and industries. The technology sector led gains, with the Technology Select Sector SPDR Fund (XLK) surging 7.7%. The iShares Expanded Tech-Software Sector ETF (IGV) topped industry ETFs with an 11.3% gain, followed by the VanEck Semiconductor ETF (SMH) at 8.4%. Notable stock performers included Adobe (ADBE), CrowdStrike (CRWD), Oracle (ORCL), Broadcom (AVGO), and Scilex (SCLX). The VanEck Semiconductor ETF also attracted over $1 billion in inflows.

Portfolio Pulse from Piero Cingari

July 01, 2024 | 5:38 pm

Avidity Biosciences (NYSE:RNA) has seen a 4.33% decrease in its short percent of float, now at 14.81%. This indicates a more bullish sentiment compared to its peers, whose average short interest is 15.21%. It would take traders 10.83 days to cover their short positions.

Portfolio Pulse from Benzinga Insights

June 20, 2024 | 3:45 pm

Avidity Biosciences, CleanSpark, and other mid-cap stocks saw significant gains last week. Avidity Biosciences surged 50.15% due to positive trial data, while CleanSpark gained 13.31% amid Bitcoin strength. Other notable gainers include Iris Energy, Hims & Hers Health, John Wiley & Sons, Element Solutions, Enovix, Axcelis Technologies, Intellia Therapeutics, and Korn Ferry.

Portfolio Pulse from Lekha Gupta

June 16, 2024 | 6:25 pm

Adobe, Avidity Biosciences, Rezolute, RF Industries, and AMMO are stocks to watch today. Adobe posted strong Q2 results and a positive forecast, boosting its shares. Rezolute announced a public offering, causing a dip. RF Industries reported a profit, beating expectations. Avidity Biosciences priced a public offering, and AMMO reported a profit, but shares fell.

Portfolio Pulse from Avi Kapoor

June 14, 2024 | 10:08 am

Avidity Biosciences has announced a public offering of 10.55 million common shares at $38 per share, expected to raise $400.9 million in gross proceeds. The offering is anticipated to close around June 17, 2024, pending customary closing conditions.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2024 | 6:38 am

B of A Securities has maintained its Buy rating on Avidity Biosciences (NASDAQ:RNA) and raised the price target from $40 to $45.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2024 | 4:08 pm

Avidity Bioscience has announced a proposed public offering of $300 million of common stock. This move is likely aimed at raising capital for ongoing and future projects.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 8:01 pm

Needham analyst Joseph Stringer maintains a Buy rating on Avidity Biosciences (NASDAQ:RNA) and raises the price target from $35 to $46.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 7:36 pm

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