Avidity Biosciences
RNA

$44.45

2.63%

Market Cap: $5.25B

About: Avidity Biosciences Inc is a biotechnology company. The company develops novel Antibody Oligonucleotide Conjugates therapies designed to overcome the current limitations of oligonucleotide therapies in order to treat a wide range of serious diseases. Its product, AOC 1001, is designed to treat a rare monogenic muscle disease.

Employees: 253

Healthcare Pharmaceutical Preparations

0

Funds holding %

of 6,710 funds

0

Analysts bullish %

of 8 analysts

Fund manager confidence

Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)

200% more first-time investments, than exits

New positions opened: 57 | Existing positions closed: 19

97% more capital invested

Capital invested by funds: $2.32B [Q1] → $4.57B (+$2.26B) [Q2]

48% more repeat investments, than reductions

Existing positions increased: 74 | Existing positions reduced: 50

29% more funds holding in top 10

Funds holding in top 10: 7 [Q1] → 9 (+2) [Q2]

24% more funds holding

Funds holding: 158 [Q1] → 196 (+38) [Q2]

3.13% more ownership

Funds ownership: 113.95% [Q1] → 117.08% (+3.13%) [Q2]

32% less call options, than puts

Call options by funds: $7.63M | Put options by funds: $11.2M

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Research analyst outlook

8 Wall Street Analysts provided 1 year price targets over the past 3 months

Low target

$53

19%

upside

Avg. target

$72

63%

upside

High target

$96

116%

upside

8 analyst ratings

8 positive

100%

0 neutral

0%

0 negative

0%

Cantor Fitzgerald Eric Schmidt 57% 1-year accuracy 12 / 21 met price target	116%upside $96	Overweight Reiterated	18 Sept 2024
Cantor Fitzgerald Eric Schmidt 57% 1-year accuracy 12 / 21 met price target	116%upside $96	Overweight Reiterated	16 Sept 2024
Cantor Fitzgerald Eric Schmidt 57% 1-year accuracy 12 / 21 met price target	116%upside $96	Overweight Reiterated	9 Sept 2024
Barclays Gena Wang 36% 1-year accuracy 9 / 25 met price target	42%upside $63	Overweight Initiated	28 Aug 2024
Evercore ISI Group Josh Schimmer 64% 1-year accuracy 39 / 61 met price target	19%upside $53	Outperform Maintained	26 Aug 2024

See Analyst Rankings

Financial journalist opinion

Based on 4 articles about RNA published over the past 30 days

24/7 Wall Street

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Avidity Biosciences Joins Patient and Advocacy Communities in Raising Awareness During National Muscular Dystrophy Awareness Month

Avidity supports World Duchenne Awareness Day, International Myotonic Dystrophy Awareness Day, FSHD Society Walk & Roll to Cure FSHD and Global Genes Week in RARE Avidity reported groundbreaking data in all three clinical programs addressing rare muscular dystrophies: myotonic dystrophy type 1 (DM1), facioscapulohumeral muscular dystrophy (FSHD) and Duchenne muscular dystrophy amenable to exon 44 skipping (DMD44) SAN DIEGO , Sept. 5, 2024 /PRNewswire/ -- Avidity Biosciences, Inc. (Nasdaq: RNA), a biopharmaceutical company committed to delivering a new class of RNA therapeutics called Antibody Oligonucleotide Conjugates (AOCs™), today announced it is joining with patient and advocacy communities to raise awareness during National Muscular Dystrophy Awareness Month, an annual observance that takes place every September to support families who are impacted by neuromuscular diseases.

Avidity Biosciences Joins Patient and Advocacy Communities in Raising Awareness During National Muscular Dystrophy Awareness Month

Avidity Biosciences to Participate in Upcoming Investor Conferences

SAN DIEGO , Aug. 28, 2024 /PRNewswire/ -- Avidity Biosciences, Inc. (Nasdaq: RNA), a biopharmaceutical company committed to delivering a new class of RNA therapeutics called Antibody Oligonucleotide Conjugates (AOCs™), today announced that Avidity management will be participating in the following upcoming conferences: Wells Fargo 2024 Healthcare Conference on September 4 at 5:00 a.m. PT / 8:00 a.m.

Avidity Biosciences to Participate in Upcoming Investor Conferences

Life Science Cares San Diego Scales Partnership with Avidity Biosciences Through Life Science Shares Program

SAN DIEGO--(BUSINESS WIRE)--Life Science Cares San Diego (LSC), a nonprofit organization activating the financial and human capital of the life sciences industry and partnering with local nonprofits to disrupt the cycle of poverty and inequity throughout its communities, and Avidity Biosciences, a biopharmaceutical company committed to delivering a new class of RNA therapeutics called Antibody Oligonucleotide Conjugates (AOCs™), today announced a $250,000 grant from Avidity to Life Science Care.

Life Science Cares San Diego Scales Partnership with Avidity Biosciences Through Life Science Shares Program

Avidity Biosciences Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

SAN DIEGO , Aug. 21, 2024 /PRNewswire/ -- Avidity Biosciences, Inc. (Nasdaq: RNA), a biopharmaceutical company committed to delivering a new class of RNA therapeutics called Antibody Oligonucleotide Conjugates (AOCs™), today announced that on August 20, 2024, the Human Capital Management Committee of Avidity's Board of Directors granted non-qualified stock option awards to purchase an aggregate of 52,100 shares of its common stock and 26,050 restricted stock units ("RSUs") to seven (7) new non-executive employees under the Avidity Biosciences, Inc. 2022 Employment Inducement Incentive Award Plan (the "2022 Inducement Plan"). The awards were granted as inducements material to the employees entering into employment with Avidity in accordance with Nasdaq Listing Rule 5635(c)(4).

Avidity Biosciences Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Avidity Biosciences Announces Closing of Upsized Public Offering of Common Stock, Including Full Exercise of Underwriters' Option to Purchase Additional Shares

SAN DIEGO , Aug. 19, 2024 /PRNewswire/ -- Avidity Biosciences, Inc. (Nasdaq: RNA), a biopharmaceutical company committed to delivering a new class of RNA therapeutics called Antibody Oligonucleotide Conjugates (AOCs™), today announced that it has closed its previously announced underwritten public offering of 8,418,000 shares of its common stock, including 1,098,000 shares sold pursuant to the underwriters' full exercise of their option to purchase additional shares, at a price to the public of $41.00 per share. The gross proceeds to Avidity from the offering, before deducting the underwriting discounts and commissions and other offering expenses, were approximately $345.1 million.

Avidity Biosciences Announces Closing of Upsized Public Offering of Common Stock, Including Full Exercise of Underwriters' Option to Purchase Additional Shares

This Early-Stage Biotech Stock Is Up 400% — Should You Buy Now?

However, even with this massive appreciation, Wall Street analysts still see a solid upside in the stock. Based on recent analyst changes, the average price target is $62, implying an upside of 39%.

This Early-Stage Biotech Stock Is Up 400% — Should You Buy Now?

Avidity: Moving RNA Development Landscape Forward Towards Rare Muscle Disorders

Avidity Biosciences, Inc. achieved positive results from phase 1/2 FORTITUDE study, using Del-brax for the treatment of patients with FSHD. Positive results achieved from phase 1/2 EXPLORE44 study, using Del-zota for the treatment of patients with DMD. The Phase 3 HARBOR study, using Del-desiran for the treatment of patients with myotonic dystrophy type 1, was initiated in June 2024.

Avidity: Moving RNA Development Landscape Forward Towards Rare Muscle Disorders

Avidity Biosciences Announces Pricing of Upsized Public Offering of Common Stock

SAN DIEGO , Aug. 14, 2024 /PRNewswire/ -- Avidity Biosciences, Inc. (Nasdaq: RNA), a biopharmaceutical company committed to delivering a new class of RNA therapeutics called Antibody Oligonucleotide Conjugates (AOCs™), today announced the pricing of its upsized underwritten public offering of 7,320,000 shares of its common stock at a price to the public of $41.00 per share. All of the shares to be sold in the offering are to be sold by Avidity.

Avidity Biosciences Announces Pricing of Upsized Public Offering of Common Stock

Avidity Biosciences Announces Proposed Public Offering of Common Stock

SAN DIEGO , Aug. 13, 2024 /PRNewswire/ -- Avidity Biosciences, Inc. (Nasdaq: RNA), a biopharmaceutical company committed to delivering a new class of RNA therapeutics called Antibody Oligonucleotide Conjugates (AOCs™), today announced that it intends to offer and sell, subject to market and other conditions, $250.0 million of shares of its common stock in an underwritten public offering. In addition, Avidity intends to grant the underwriters a 30-day option to purchase up to an additional $37.5 million of shares of common stock.

Avidity Biosciences Announces Proposed Public Offering of Common Stock

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