Chardan Initiates Coverage On These 'Intriguing Small-Cap Stories"

  • Chardan Research initiated coverage on Avidity Biosciences Inc RNA with a Buy rating and a price target of $29 and Dyne Therapeutics Inc DYN with a Buy rating and a price target of $17.
  • "We believe that Avidity and Dyne are an intriguing small-cap story that, while not immune to the selloff of the biotech sector over the past seven months, warrants a fresh look by investors, Chardan analysts wrote.
  • Chardan says Avidity's antibody oligonucleotide conjugate (AOC) design and Dyne's proprietary FORCE design platform leverage well-characterized components.
  • Related: Avidity Biosciences Or Dyne Therapeutics - Read On Raymond James' Rating Skew.
  • "The value created by the companies thus far is the well-characterized understanding of how to get all of the components to work together in an optimum fashion," Chardan added.
  • Hence, the key reason Chardan believes that Avidity's AOC and Dyne's FORCE design approach is an enabling technology that can advance small RNA therapeutics to move beyond the liver successfully.
  • Price Action: DYN stock is down 0.93% at $10.35, and RNA shares are up 5.63% at $18.76 during the market session on the last check Wednesday.
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