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.