HC Wainwright Issues Optimistic Outlook for RNA Earnings

Avidity Biosciences, Inc. (NASDAQ:RNA) – Equities research analysts at HC Wainwright upped their Q3 2026 EPS estimates for Avidity Biosciences in a research note issued on Friday, August 14th. HC Wainwright analyst M. Kapoor now anticipates that the biotechnology company will earn ($1.70) per share for the quarter, up from their prior forecast of ($2.31). HC Wainwright has a “Buy” rating and a $25.00 price objective on the stock. The consensus estimate for Avidity Biosciences’ current full-year earnings is ($5.74) per share. HC Wainwright also issued estimates for Avidity Biosciences’ Q4 2026 earnings at ($1.76) EPS, FY2026 earnings at ($5.61) EPS, Q1 2027 earnings at ($1.91) EPS, Q2 2027 earnings at ($1.99) EPS, Q3 2027 earnings at ($2.07) EPS, Q4 2027 earnings at ($2.18) EPS and FY2027 earnings at ($8.16) EPS.

A number of other research analysts have also recently weighed in on RNA. Wall Street Zen upgraded shares of Avidity Biosciences from a “sell” rating to a “hold” rating in a report on Saturday, May 30th. Weiss Ratings upgraded shares of Avidity Biosciences from a “sell (e-)” rating to a “sell (e)” rating in a research note on Monday, August 3rd. Cantor Fitzgerald assumed coverage on Avidity Biosciences in a research report on Thursday, June 18th. They set an “overweight” rating and a $25.00 price objective on the stock. Zacks Research upgraded Avidity Biosciences to a “hold” rating in a research note on Friday, June 19th. Finally, Leerink Partners assumed coverage on Avidity Biosciences in a report on Friday, May 15th. They issued an “outperform” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $63.85.

Avidity Biosciences Price Performance

Shares of NASDAQ:RNA opened at $12.96 on Tuesday. The firm has a market capitalization of $221.75 million and a PE ratio of -13.36. Avidity Biosciences has a 1 year low of $11.13 and a 1 year high of $16.77. The firm’s 50-day moving average is $12.40 and its two-hundred day moving average is $22.29.

Avidity Biosciences (NASDAQ:RNA) last announced its earnings results on Thursday, August 13th. The biotechnology company reported ($1.18) EPS for the quarter, beating analysts’ consensus estimates of ($1.42) by $0.24. The firm had revenue of $3.00 million for the quarter, compared to analysts’ expectations of $0.67 million.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. EFG International AG purchased a new stake in shares of Avidity Biosciences during the 4th quarter worth $33,000. Los Angeles Capital Management LLC purchased a new position in Avidity Biosciences in the fourth quarter valued at $34,000. Smartleaf Asset Management LLC raised its stake in Avidity Biosciences by 426.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 490 shares of the biotechnology company’s stock valued at $35,000 after buying an additional 397 shares in the last quarter. Osaic Holdings Inc. raised its stake in Avidity Biosciences by 1,659.1% in the second quarter. Osaic Holdings Inc. now owns 1,636 shares of the biotechnology company’s stock valued at $48,000 after buying an additional 1,543 shares in the last quarter. Finally, Comerica Bank lifted its holdings in Avidity Biosciences by 75.9% during the 3rd quarter. Comerica Bank now owns 1,335 shares of the biotechnology company’s stock worth $58,000 after buying an additional 576 shares during the last quarter.

About Avidity Biosciences

Avidity Biosciences is a clinical-stage biotechnology company dedicated to developing antibody-oligonucleotide conjugate (AOC) therapies designed to address serious neuromuscular and cardiac diseases. The company’s proprietary AOC platform combines the targeting specificity of monoclonal antibodies with the gene-modulating power of oligonucleotides to deliver therapeutic agents directly into muscle cells. Headquartered in La Jolla, California, Avidity seeks to overcome traditional delivery challenges associated with RNA-based medicines by leveraging receptor-mediated uptake mechanisms.

The company’s lead product candidate, AOC 1001, is in clinical development for myotonic dystrophy type 1 (DM1) and represents the first application of the AOC platform in a human study.