Avidity Biosciences Inc. (NASDAQ:RNA) saw a 9.02% increase in stock price on Friday, breaking a four-day losing streak to close at $44.74 per share. BofA Securities gave a “buy” recommendation for RNA with a price target of $65, a 45% upside from its latest closing price. The company announced a $500 million share sale issuance to fund three late-stage clinical trials and expand its commercial infrastructure. RNA also granted underwriters an overallotment option of up to $75 million. The company noted uncertainty regarding the offering’s completion and terms.

Overall, RNA’s stock price increase was driven by higher PT and rating, presenting a potential opportunity for investors to load up on shares. The company’s focus on clinical trials and commercial expansion contributed to its positive performance.

Read more at Yahoo Finance: Avidity Biosciences (RNA) Gets 9% Boost from Higher PT, Rating