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Stock impact report

Avidity Biosciences (RNA) Soars 11.3%: Is Further Upside Left in the Stock? [Yahoo! Finance]

Avidity Biosciences, Inc. (RNA) 
Company Research Source: Yahoo! Finance
The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 6.4% loss over the past four weeks. The sudden surge in the stock price can be attributed to the positive investor mindset regarding the company's distinguished rare diseases pipeline. Avidity is currently evaluating three investigational candidates in separate mid to late-stage clinical studies for three different muscle disease indications. This company is expected to post quarterly loss of $0.88 per share in its upcoming report, which represents a year-over-year change of -11.4%. Revenues are expected to be $2.95 million, down 16.7% from the year-ago quarter. Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements. For Avidity Biosciences, the consensus EPS estimate fo Show less Read more
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