Avidity Biosciences (RNA) Stock

We have just put together a list of the 12 Best Multibagger Stocks to Invest in at the moment. In this article, we will examine how Avidity Biosciences, Inc. (NASDAQ:RNA) compares to the other multibagger stocks. The US stock market has been rising in 2024, pushing the S&P 500 to new record levels.

Avidity Biosciences' AOC platform targets genetic diseases by combining monoclonal antibodies with oligonucleotide therapies, overcoming traditional delivery limitations. Del-brax (AOC 1020) for FSHD showed a 50% reduction in DUX4 gene expression, positioning it as a potential best-in-class therapy. Del-desiran (AOC 1001) for DM1 cleared the FDA's clinical hold, enabling progression to Phase 3 HARBOR trials with favorable regulatory designations.

Avidity Biosciences, Inc. (RNA) reported a quarterly loss of $0.65 per share, which is better than the Zacks Consensus Estimate of a $0.79 loss. This is an improvement compared to a loss of $0.71 per share from the same period last year.

The company's most promising pipeline program can continue unabated.

SAN DIEGO , Sept. 25, 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 conference: Chardan 8th Annual Genetic Medicines Conference on October 1 at 7:30 a.m.

Goldman Sachs has initiated coverage on Avidity Biosciences Inc RNA based on multi-blockbuster, first-to-market commercial opportunities for its investigational candidates.

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.

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.

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%.