Avidity Biosciences Investors Should Focus on This

By Tamara Parker • Friday, March 31 12:00 • Permanent Link

One of the losers of today's trading session was Avidity Biosciences. Shares of the Pharmaceutical company plunged -7.0%, and some investors may be wondering if its price of $15.62 would make a good entry point. Here's what you should know if you are considering this investment:

Avidity Biosciences has moved -16.0% over the last year, and the S&P 500 logged a change of -10.9%
RNA has an average analyst rating of buy and is -60.81% away from its mean target price of $39.86 per share
Its trailing earnings per share (EPS) is $-3.34
Avidity Biosciences has a trailing 12 month Price to Earnings (P/E) ratio of -4.7 while the S&P 500 average is 15.97
Its forward earnings per share (EPS) is $-3.5 and its forward P/E ratio is -4.5
The company has a Price to Book (P/B) ratio of 1.9 in contrast to the S&P 500's average ratio of 2.95
Avidity Biosciences is part of the Health Care sector, which has an average P/E ratio of 24.45 and an average P/B of 4.16
The company has a free cash flow of $-71,820,624.00, which refers to the total sum of all its inflows and outflows of cash over the last quarter
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 for the treatment of myotonic dystrophy type 1, a rare monogenic muscle disease is under phase 1/2 clinical trial. Its other products in pipeline include AOC 1044 for the treatment of Duchenne Muscular Dystrophy, which is under phase 1/2 clinical trial; and AOC 1020 to treat facioscapulohumeral muscular dystrophy is in phase 1/2 clinical trial. Avidity Biosciences, Inc. was incorporated in 2012 and is headquartered in San Diego, California.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.