Avidity Biosciences Stock Market Value
| RNA Stock | USD 43.80 1.33 2.95% |
| Symbol | Avidity |
Avidity Biosciences Price To Book Ratio
Is Biotechnology space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Avidity Biosciences. If investors know Avidity will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Avidity Biosciences listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (2.88) | Revenue Per Share 0.103 | Quarterly Revenue Growth (0.17) | Return On Assets (0.18) | Return On Equity (0.28) |
The market value of Avidity Biosciences is measured differently than its book value, which is the value of Avidity that is recorded on the company's balance sheet. Investors also form their own opinion of Avidity Biosciences' value that differs from its market value or its book value, called intrinsic value, which is Avidity Biosciences' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Avidity Biosciences' market value can be influenced by many factors that don't directly affect Avidity Biosciences' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Avidity Biosciences' value and its price as these two are different measures arrived at by different means. Investors typically determine if Avidity Biosciences is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Avidity Biosciences' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Avidity Biosciences 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Avidity Biosciences' stock what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Avidity Biosciences.
| 10/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in Avidity Biosciences on October 27, 2024 and sell it all today you would earn a total of 0.00 from holding Avidity Biosciences or generate 0.0% return on investment in Avidity Biosciences over 30 days. Avidity Biosciences is related to or competes with Revolution Medicines, Black Diamond, Passage Bio, Akero Therapeutics, Protagonist Therapeutics, Stoke Therapeutics, and IGM Biosciences. Avidity Biosciences, Inc., a biopharmaceutical company, engages in the development of oligonucleotide-based therapies More
Avidity Biosciences Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Avidity Biosciences' stock current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Avidity Biosciences upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 4.41 | |||
| Information Ratio | 0.0034 | |||
| Maximum Drawdown | 27.94 | |||
| Value At Risk | (7.08) | |||
| Potential Upside | 5.78 |
Avidity Biosciences Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Avidity Biosciences' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Avidity Biosciences' standard deviation. In reality, there are many statistical measures that can use Avidity Biosciences historical prices to predict the future Avidity Biosciences' volatility.| Risk Adjusted Performance | 0.0342 | |||
| Jensen Alpha | (0.08) | |||
| Total Risk Alpha | (0.52) | |||
| Sortino Ratio | 0.0032 | |||
| Treynor Ratio | 0.0753 |
Avidity Biosciences Backtested Returns
At this point, Avidity Biosciences is not too volatile. Avidity Biosciences secures Sharpe Ratio (or Efficiency) of 0.0337, which signifies that the company had a 0.0337% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Avidity Biosciences, which you can use to evaluate the volatility of the firm. Please confirm Avidity Biosciences' Mean Deviation of 2.89, risk adjusted performance of 0.0342, and Downside Deviation of 4.41 to double-check if the risk estimate we provide is consistent with the expected return of 0.14%. Avidity Biosciences has a performance score of 2 on a scale of 0 to 100. The firm shows a Beta (market volatility) of 1.76, which signifies a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Avidity Biosciences will likely underperform. Avidity Biosciences right now shows a risk of 4.25%. Please confirm Avidity Biosciences sortino ratio, skewness, period momentum indicator, as well as the relationship between the potential upside and rate of daily change , to decide if Avidity Biosciences will be following its price patterns.
Auto-correlation | -0.41 |
Modest reverse predictability
Avidity Biosciences has modest reverse predictability. Overlapping area represents the amount of predictability between Avidity Biosciences time series from 27th of October 2024 to 11th of November 2024 and 11th of November 2024 to 26th of November 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Avidity Biosciences price movement. The serial correlation of -0.41 indicates that just about 41.0% of current Avidity Biosciences price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.41 | |
| Spearman Rank Test | -0.8 | |
| Residual Average | 0.0 | |
| Price Variance | 11.18 |
Avidity Biosciences lagged returns against current returns
Autocorrelation, which is Avidity Biosciences stock's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Avidity Biosciences' stock expected returns. We can calculate the autocorrelation of Avidity Biosciences returns to help us make a trade decision. For example, suppose you find that Avidity Biosciences has exhibited high autocorrelation historically, and you observe that the stock is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Avidity Biosciences regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Avidity Biosciences stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Avidity Biosciences stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Avidity Biosciences stock over time.
Current vs Lagged Prices |
| Timeline |
Avidity Biosciences Lagged Returns
When evaluating Avidity Biosciences' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Avidity Biosciences stock have on its future price. Avidity Biosciences autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Avidity Biosciences autocorrelation shows the relationship between Avidity Biosciences stock current value and its past values and can show if there is a momentum factor associated with investing in Avidity Biosciences.
Regressed Prices |
| Timeline |
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.When determining whether Avidity Biosciences offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Avidity Biosciences' financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Avidity Biosciences Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Avidity Biosciences Stock:Check out Avidity Biosciences Correlation, Avidity Biosciences Volatility and Avidity Biosciences Alpha and Beta module to complement your research on Avidity Biosciences. For information on how to trade Avidity Stock refer to our How to Trade Avidity Stock guide.You can also try the Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.
Avidity Biosciences technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.