Avidity Biosciences, Inc. (RNA) Reports Q4 Loss, Tops Revenue Estimates

Company Performance - Avidity Biosciences reported a quarterly loss of $0.80 per share, which was better than the Zacks Consensus Estimate of a loss of $0.84, and compared to a loss of $0.79 per share a year ago, indicating an earnings surprise of 4.76% [1] - The company posted revenues of $2.97 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 29.26%, and this represents an increase from revenues of $2.19 million in the same quarter last year [2] - Over the last four quarters, Avidity Biosciences has surpassed consensus EPS estimates four times, but has only topped consensus revenue estimates once [2] Stock Outlook - The immediate price movement of Avidity Biosciences' stock will depend on management's commentary during the earnings call, with shares having added about 2% since the beginning of the year, outperforming the S&P 500's gain of 1.3% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.76 on revenues of $2.95 million, and for the current fiscal year, it is -$3.34 on revenues of $14.48 million [7] Industry Context - Avidity Biosciences operates within the Medical - Biomedical and Genetics industry, which is currently ranked in the top 28% of over 250 Zacks industries, suggesting a favorable industry outlook [8] - The performance of Avidity Biosciences' stock may also be influenced by the overall outlook for the industry, as research indicates that the top 50% of Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1 [8]