Viridian Therapeutics (NASDAQ:VRDN) Stock Price Down 6.2%

Viridian Therapeutics, Inc. (NASDAQ:VRDN) shares dropped 6.2% during mid-day trading on Wednesday . The company traded as low as $13.34 and last traded at $13.37. Approximately 239,014 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 922,243 shares. The stock had previously closed at $14.25.

Analyst Ratings Changes

VRDN has been the subject of a number of recent analyst reports. B. Riley decreased their price target on shares of Viridian Therapeutics from $29.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, March 21st. HC Wainwright reiterated a “buy” rating and issued a $37.00 price target on shares of Viridian Therapeutics in a research note on Thursday, February 29th. Needham & Company LLC reiterated a “buy” rating and issued a $30.00 target price on shares of Viridian Therapeutics in a research report on Wednesday, March 20th. Finally, Wedbush upped their price target on Viridian Therapeutics from $39.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday, February 28th. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $36.60.

Viridian Therapeutics Stock Down 8.6 %

The firm has a market cap of $817.89 million, a price-to-earnings ratio of -2.52 and a beta of 1.07. The stock has a 50-day moving average of $17.53 and a 200-day moving average of $17.55. The company has a current ratio of 18.26, a quick ratio of 18.26 and a debt-to-equity ratio of 0.09.

Viridian Therapeutics (NASDAQ:VRDN) last posted its earnings results on Tuesday, February 27th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.98) by ($0.37). The company had revenue of $0.07 million during the quarter, compared to the consensus estimate of $0.15 million. Viridian Therapeutics had a negative net margin of 75,711.48% and a negative return on equity of 121.80%. The business’s quarterly revenue was down 31.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.13) earnings per share. As a group, sell-side analysts forecast that Viridian Therapeutics, Inc. will post -4.39 EPS for the current fiscal year.

Institutional Trading of Viridian Therapeutics

Several hedge funds have recently added to or reduced their stakes in VRDN. SG Americas Securities LLC increased its holdings in shares of Viridian Therapeutics by 150.5% during the third quarter. SG Americas Securities LLC now owns 102,667 shares of the company’s stock valued at $1,575,000 after purchasing an additional 61,676 shares during the period. Raymond James & Associates increased its stake in Viridian Therapeutics by 71.1% during the 3rd quarter. Raymond James & Associates now owns 15,164 shares of the company’s stock valued at $233,000 after buying an additional 6,303 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Viridian Therapeutics by 17.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,227 shares of the company’s stock worth $448,000 after buying an additional 4,412 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Viridian Therapeutics by 89.5% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 27,112 shares of the company’s stock worth $416,000 after acquiring an additional 12,807 shares during the period. Finally, Knights of Columbus Asset Advisors LLC lifted its stake in shares of Viridian Therapeutics by 2.9% in the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 29,553 shares of the company’s stock worth $453,000 after acquiring an additional 823 shares during the period.

Viridian Therapeutics Company Profile

Viridian Therapeutics, Inc, a biotechnology company, discover and develops treatments for serious and rare diseases. The company's product pipeline includes VRDN-001, a monoclonal antibody targeting insulin-like growth factor-1 receptor that is in Phase 3 clinical trial for the treatment of thyroid eye disease (TED); and VRDN-003, a next generation IGF-1R humanized monoclonal antibodies targeting IGF-1R and incorporating half-life extension technology for the treatment of TED.