Viridian Therapeutics (NASDAQ:VRDN) Reaches New 12-Month Low - Here's Why

Viridian Therapeutics, Inc. (NASDAQ:VRDN - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $10.30 and last traded at $11.72, with a volume of 804 shares. The stock had previously closed at $11.99.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Royal Bank of Canada upped their target price on shares of Viridian Therapeutics from $44.00 to $47.00 and gave the company an "outperform" rating in a research report on Tuesday, December 17th. Wells Fargo & Company reaffirmed an "equal weight" rating and set a $27.00 price objective (down previously from $37.00) on shares of Viridian Therapeutics in a research report on Thursday, December 19th. HC Wainwright reissued a "buy" rating and issued a $34.00 target price on shares of Viridian Therapeutics in a research report on Monday, December 16th. Finally, Needham & Company LLC reissued a "buy" rating and set a $38.00 price target on shares of Viridian Therapeutics in a research report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $35.70.

Viridian Therapeutics Price Performance

The company has a market capitalization of $979.45 million, a PE ratio of -2.79 and a beta of 0.81. The company has a debt-to-equity ratio of 0.04, a current ratio of 18.55 and a quick ratio of 18.55. The company's 50 day simple moving average is $15.08 and its 200 day simple moving average is $18.94.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.81) EPS for the quarter, topping the consensus estimate of ($1.05) by $0.24. Viridian Therapeutics had a negative net margin of 85,127.16% and a negative return on equity of 70.12%. The firm had revenue of $0.07 million for the quarter, compared to analyst estimates of $0.05 million. As a group, sell-side analysts predict that Viridian Therapeutics, Inc. will post -4.03 earnings per share for the current year.

Institutional Trading of Viridian Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Rhumbline Advisers increased its position in Viridian Therapeutics by 4.6% during the first quarter. Rhumbline Advisers now owns 104,559 shares of the company's stock worth $1,409,000 after buying an additional 4,621 shares during the period. GAMMA Investing LLC increased its holdings in shares of Viridian Therapeutics by 3,892.9% in the 1st quarter. GAMMA Investing LLC now owns 8,425 shares of the company's stock valued at $114,000 after acquiring an additional 8,214 shares during the period. California State Teachers Retirement System raised its position in Viridian Therapeutics by 18.0% in the 4th quarter. California State Teachers Retirement System now owns 54,710 shares of the company's stock valued at $1,049,000 after purchasing an additional 8,344 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Viridian Therapeutics by 29.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 115,782 shares of the company's stock worth $2,220,000 after purchasing an additional 26,286 shares during the period. Finally, Tang Capital Management LLC grew its position in Viridian Therapeutics by 11.1% during the 4th quarter. Tang Capital Management LLC now owns 2,492,925 shares of the company's stock worth $47,789,000 after purchasing an additional 250,000 shares during the last quarter.

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.