Avidity Biosciences: Good Prospects, But We Are A Little Late

Summary

• Avidity Biosciences excels in antibody oligonucleotide conjugates, with its stock tripling in the past year due to innovative clinical advancements.
• Lead asset AOC1001 shows promising results in treating myotonic dystrophy type 1 ("DM1"), with phase 3 trials accelerated and positive long-term data on muscle function.
• Financially, AVID boasts a strong cash balance and market cap, but current high valuation may be driven more by technology potential than market size.
• Despite the positive outlook, I’m not buying AVID now due to its high valuation; the opportunity seems to have passed.

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Avidity Biosciences, Inc. (NASDAQ:RNA) is a leader in the antibody oligonucleotide conjugate ("AOC") space. The stock has done very well in the last 12 months since I covered it, going up 3x. Avidity's claim to fame

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.