Avidity Biosciences (RNA) Gets 9% Boost from Higher PT, Rating

Group 1 - Avidity Biosciences Inc. (NASDAQ:RNA) experienced a significant stock performance increase, closing up 9.02% at $44.74 after a four-day losing streak, driven by a higher price target and rating from analysts [1][3] - BofA Securities issued a "buy" recommendation for Avidity Biosciences with a new price target of $65, up from $56, indicating a potential upside of 45% from the latest closing price [2] - The investment firm suggested that the current price weakness of Avidity's stock presents a significant opportunity for investors to acquire shares [3] Group 2 - Avidity Biosciences announced a $500 million share sale to fund three late-stage clinical trials, support commercial inventory for upcoming launches, and expand its commercial infrastructure and AOC platform [4] - The company has provided its underwriters with an overallotment option of up to $75 million within 30 days from the offering date [4] - There is uncertainty regarding the completion, size, or terms of the offering, as noted by the company [5]