12 Biotech Stocks with the Biggest Upside Potential

3. Avidity Biosciences, Inc. (NASDAQ:RNA)

Analyst Upside: 133.69%

Number of Hedge Fund Holders: 38

Avidity Biosciences, Inc. (NASDAQ:RNA) develops a new class of oligonucleotide-based therapies called Antibody Oligonucleotide Conjugates (AOC). It leverages its AOC platform to engineer, design, and develop these therapeutics. Its advancing and expanding pipeline has three programs in clinical development designed to treat people with myotonic dystrophy type 1 (DM1), Duchenne muscular dystrophy, and facioscapulohumeral muscular dystrophy (FSHD).

The company has several transformational plans for 2025 and is preparing to become a commercial organization. It has plans to file its first Biologics License Application (BLA), broaden its pipeline, and accelerate commercial preparations for three potential product launches. The company is also expanding its AOC platform’s working to precision cardiology and next-generation technology innovations. Investors are thus bullish on the stock, as it is in a position to continue its growth trajectory by expanding its current RNA-based pipeline of rare muscle disorders to explore precision cardiology.

Avidity Biosciences, Inc.’s (NASDAQ:RNA) strong cash position of around $1.6 billion supports its focus on advancing its programs and building other capabilities, such as commercial functions. It is also expected to expand its operations to countries outside the United States. The company ranks third on our list of the top biotech stocks with the highest upside potential.