Viridian Therapeutics (NASDAQ:VRDN) Trading Down 5.7% - Here's What Happened

Viridian Therapeutics, Inc. (NASDAQ:VRDN - Get Free Report)'s share price fell 5.7% during trading on Tuesday . The stock traded as low as $20.06 and last traded at $20.31. 444,184 shares changed hands during trading, a decline of 61% from the average session volume of 1,142,907 shares. The stock had previously closed at $21.54.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on VRDN. TD Cowen initiated coverage on Viridian Therapeutics in a research report on Monday, November 25th. They set a "buy" rating for the company. Needham & Company LLC reiterated a "buy" rating and set a $38.00 target price on shares of Viridian Therapeutics in a research report on Monday, November 25th. HC Wainwright reissued a "buy" rating and issued a $34.00 price target on shares of Viridian Therapeutics in a report on Monday. BTIG Research raised their price objective on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the company a "buy" rating in a research report on Thursday, September 26th. Finally, Royal Bank of Canada upped their target price on shares of Viridian Therapeutics from $44.00 to $47.00 and gave the stock an "outperform" rating in a research report on Tuesday. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $36.67.

Viridian Therapeutics Stock Down 3.3 %

The firm has a market cap of $1.65 billion, a P/E ratio of -4.83 and a beta of 1.04. The company's 50-day simple moving average is $21.95 and its 200 day simple moving average is $18.05. The company has a debt-to-equity ratio of 0.04, a current ratio of 18.55 and a quick ratio of 18.55.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($1.15) EPS for the quarter, missing the consensus estimate of ($1.11) by ($0.04). Viridian Therapeutics had a negative return on equity of 70.12% and a negative net margin of 85,127.16%. The firm had revenue of $0.09 million for the quarter, compared to analysts' expectations of $0.08 million. Research analysts anticipate that Viridian Therapeutics, Inc. will post -4.03 EPS for the current fiscal year.

Insider Activity

In related news, CEO Stephen F. Mahoney acquired 21,400 shares of the business's stock in a transaction dated Friday, September 27th. The shares were purchased at an average price of $23.33 per share, for a total transaction of $499,262.00. Following the completion of the acquisition, the chief executive officer now directly owns 21,400 shares in the company, valued at $499,262. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Thomas W. Beetham purchased 5,000 shares of the firm's stock in a transaction on Friday, September 27th. The stock was bought at an average cost of $23.41 per share, with a total value of $117,050.00. Following the acquisition, the chief operating officer now owns 6,000 shares of the company's stock, valued at approximately $140,460. The trade was a 500.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.65% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Arizona State Retirement System increased its position in shares of Viridian Therapeutics by 14.7% in the second quarter. Arizona State Retirement System now owns 13,178 shares of the company's stock valued at $171,000 after buying an additional 1,688 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Viridian Therapeutics by 17.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,997 shares of the company's stock worth $318,000 after acquiring an additional 2,036 shares in the last quarter. AlphaCentric Advisors LLC raised its position in Viridian Therapeutics by 20.0% during the third quarter. AlphaCentric Advisors LLC now owns 15,000 shares of the company's stock worth $341,000 after acquiring an additional 2,500 shares during the period. DCF Advisers LLC lifted its holdings in Viridian Therapeutics by 22.4% during the second quarter. DCF Advisers LLC now owns 17,750 shares of the company's stock valued at $231,000 after purchasing an additional 3,250 shares in the last quarter. Finally, Quest Partners LLC grew its position in shares of Viridian Therapeutics by 344.0% in the second quarter. Quest Partners LLC now owns 6,056 shares of the company's stock valued at $79,000 after purchasing an additional 4,692 shares during the period.

About Viridian Therapeutics

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.