Shares of Avidity Biosciences, Inc. (RNA) are experiencing a significant pre-market surge on Monday, jumping 11.23% following a key analyst action. The biotechnology company's stock is attracting investor attention after HC Wainwright & Co. maintained its "Buy" rating on the company.

The maintenance of a positive outlook by a respected financial services firm like HC Wainwright & Co. often signals confidence in a company's future prospects. For Avidity Biosciences, this reaffirmation appears to have sparked renewed interest among investors, driving the stock's substantial pre-market gains.

While specific details of HC Wainwright's analysis were not immediately available, the maintained "Buy" rating suggests that the firm continues to see potential in Avidity Biosciences' business model and growth strategy. Investors are likely interpreting this as a positive sign for the company's future performance, leading to the notable increase in pre-market trading activity.