• Avidity Biosciences average return on tangible equity for 2023 was -38.44, a 3.3% decline from 2022.
• Avidity Biosciences average return on tangible equity for 2022 was -39.75, a 41.76% decline from 2021.
• Avidity Biosciences average return on tangible equity for 2021 was -28.04, a 77.13% increase from 2020.

Return on tangible equity can be defined as the amount of net income returned as a percentage of shareholders equity, after subtracting intangible assets, goodwill and preferred equity.