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 reported a Q4 EPS of $(0.79), missing the $(0.66) estimate, with sales of $2.19M, down 20.80% YoY from $2.77M.

Portfolio Pulse from Happy Mohamed

February 28, 2024 | 9:44 pm

Avidity Biosciences will present long-term efficacy and safety data from the MARINA-OLE trial for AOC 1001 in Myotonic Dystrophy Type 1 at the 2024 Muscular Dystrophy Association Clinical & Scientific Conference. John W. Day, a key figure in neuromuscular medicine, will join Avidity's management for the presentation. The event is part of Avidity's investor and analyst series and will be webcast on March 4, 2024.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 10:02 pm

Wells Fargo analyst Yanan Zhu has reiterated an Overweight rating on Avidity Biosciences (NASDAQ:RNA) and maintained a $50 price target on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 6:11 pm

Needham analyst Joseph Stringer has reiterated a Buy rating on Avidity Biosciences (NASDAQ:RNA) and maintained a $35 price target for the company's stock.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 9:30 am

SenesTech, Inc. (NASDAQ:SNES) shares plummeted by approximately 50% after announcing the pricing of a $5.0 million public offering at $1.30 per share with additional warrants. The stock dropped to $0.9189. Other stocks experienced significant movements, with gainers including IceCure Medical Ltd (ICCM), RedHill Biopharma Ltd. (RDHL), and HNR Acquisition Corp (HNRA), among others. Losers included Tharimmune, Inc. (THAR), Cabaletta Bio, Inc. (CABA), and Acelyrin, Inc. (SLRN), with Tharimmune's shares falling sharply after pricing its public offering at $1 per share.

Portfolio Pulse from Lisa Levin

November 28, 2023 | 7:44 pm

PDD Holdings Inc. reported a significant year-on-year revenue growth of 94% in Q3 FY23, surpassing consensus estimates, with shares surging 18.6%. Avidity Biosciences, SpringWorks Therapeutics, and other companies also saw their stocks move higher. Avidity expanded its collaboration with Bristol Myers Squibb, SpringWorks received FDA approval for Ogsiveo, and other companies experienced various positive catalysts including upgrades, inclusion in indices, and favorable analyst coverage.

Portfolio Pulse from Lisa Levin

November 28, 2023 | 2:39 pm

Avidity Biosciences' stock is trading higher following the announcement of an expanded cardiovascular collaboration with Bristol Myers Squibb, valued at $2.3 billion. Avidity will receive an upfront payment of $100 million.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 2:31 pm

Avidity Biosciences Inc (RNA) announced a collaboration with Bristol Myers Squibb (BMY) to develop and commercialize cardiovascular targets, with potential payments up to $2.3 billion. Avidity will receive $100 million upfront, including a $60 million cash payment and a $40 million stock purchase by BMY at $7.88 per share. The deal includes up to $1.35 billion in R&D milestones, $825 million in commercial milestones, and royalties on net sales. BMY will fund all future activities for the collaboration. RNA shares surged 28.4% in premarket trading.

Portfolio Pulse from Vandana Singh

November 28, 2023 | 2:17 pm

IceCure Medical announced the release of a study published in 'Cancers' showing the safety and efficacy of ProSense with a 92% disease-free survival rate at a median follow-up of 26.5 months. Avidity Biosciences has partnered with Bristol Myers Squibb in a $2.3 billion deal for cardiovascular RNA therapeutics, receiving $100 million upfront. SMX shares surged 50% premarket after announcing the planned launch of the world's first Plastic Cycle Token.

Portfolio Pulse from ryanfaloona@benzinga.com

November 28, 2023 | 1:45 pm

In Tuesday's pre-market session, several healthcare stocks experienced significant movements. Avidity Biosciences (RNA) led the gainers with a 38.1% increase, while Tharimmune (THAR) saw the largest drop among the losers, falling 69.5%. Other notable movers included Heart Test Laboratories (HSCS), Redhill Biopharma (RDHL), icad (ICAD), and Eiger BioPharmaceuticals (EIGR) with substantial gains, and SenesTech (SNES), CohBar (CWBR), Nexalin Technology (NXL), Better Therapeutics (BTTX), and Altamira Therapeutics (CYTO) with notable losses.

Portfolio Pulse from Benzinga Insights

November 28, 2023 | 1:06 pm

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