Leerink Partnrs Has Pessimistic View of RNA FY2026 Earnings

Avidity Biosciences, Inc. (NASDAQ:RNA) – Investment analysts at Leerink Partnrs decreased their FY2026 earnings per share estimates for shares of Avidity Biosciences in a research note issued to investors on Monday, June 9th. Leerink Partnrs analyst J. Schwartz now expects that the biotechnology company will earn ($5.06) per share for the year, down from their prior estimate of ($5.03). The consensus estimate for Avidity Biosciences’ current full-year earnings is ($2.89) per share.

RNA has been the topic of a number of other research reports. JPMorgan Chase & Co. lifted their price target on shares of Avidity Biosciences from $57.00 to $59.00 and gave the stock an “overweight” rating in a report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 target price on shares of Avidity Biosciences in a report on Wednesday, April 9th. BMO Capital Markets began coverage on Avidity Biosciences in a research report on Wednesday, March 12th. They issued an “outperform” rating and a $72.00 price target on the stock. HC Wainwright lowered their price objective on Avidity Biosciences from $72.00 to $68.00 and set a “buy” rating for the company in a research report on Monday, May 12th. Finally, Chardan Capital lifted their price objective on Avidity Biosciences from $65.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday. Fourteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $67.33.

Avidity Biosciences Price Performance

RNA opened at $32.14 on Thursday. Avidity Biosciences has a fifty-two week low of $21.51 and a fifty-two week high of $56.00. The firm has a market capitalization of $3.87 billion, a price-to-earnings ratio of -11.16 and a beta of 0.95. The company’s 50 day moving average price is $29.84 and its two-hundred day moving average price is $31.26.

Avidity Biosciences (NASDAQ:RNA) last posted its earnings results on Thursday, May 8th. The biotechnology company reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.88) by ($0.02). Avidity Biosciences had a negative net margin of 2,772.45% and a negative return on equity of 27.66%. The firm had revenue of $1.60 million during the quarter, compared to the consensus estimate of $2.63 million.

Hedge Funds Weigh In On Avidity Biosciences

A number of large investors have recently modified their holdings of RNA. Legato Capital Management LLC acquired a new position in Avidity Biosciences during the fourth quarter worth $301,000. Van ECK Associates Corp bought a new stake in shares of Avidity Biosciences during the fourth quarter worth about $38,000. Rhumbline Advisers raised its holdings in shares of Avidity Biosciences by 3.2% in the 4th quarter. Rhumbline Advisers now owns 153,803 shares of the biotechnology company’s stock worth $4,473,000 after acquiring an additional 4,795 shares during the last quarter. State of New Jersey Common Pension Fund D raised its holdings in shares of Avidity Biosciences by 8.1% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 48,536 shares of the biotechnology company’s stock worth $1,411,000 after acquiring an additional 3,638 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its position in Avidity Biosciences by 0.3% in the 4th quarter. New York State Common Retirement Fund now owns 184,811 shares of the biotechnology company’s stock valued at $5,374,000 after acquiring an additional 598 shares in the last quarter.

Insider Activity

In other Avidity Biosciences news, insider Kathleen P. Gallagher sold 5,875 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $27.83, for a total value of $163,501.25. Following the transaction, the insider now owns 50,554 shares in the company, valued at approximately $1,406,917.82. This represents a 10.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sarah Boyce sold 31,540 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $31.06, for a total value of $979,632.40. Following the sale, the chief executive officer now owns 305,871 shares of the company’s stock, valued at approximately $9,500,353.26. This represents a 9.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold 86,678 shares of company stock worth $2,725,857 in the last quarter. 3.83% of the stock is owned by corporate insiders.

About Avidity Biosciences

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.