Top-notch biotech stock Avidity tumbled Monday despite unveiling "positive" midstage test results for its muscular dystrophy treatment.
Avidity Biosciences, Inc. (RNA) delivered earnings and revenue surprises of -46.30% and 93.17%, respectively, for the quarter ended December 2023. Do the numbers hold clues to what lies ahead for the stock?
Investors know that the world of biotech stocks is home to a great percentage of opportunities that can triple and quadruple their capital. It’s also fairly easy to identify such stocks using screener tools that can tease out such opportunities. Investors willing to pursue these opportunities are clearly those who have a penchant for risk seeking behavior. Of course, risk and reward go hand in hand and the rewards here can be great. AbCellera Biologics (ABCL) Source: Matej Kastelic / Shutterstoc