Viridian Therapeutics (NASDAQ:VRDN) Shares Up 5.8% - What's Next?

Viridian Therapeutics, Inc. (NASDAQ:VRDN - Get Free Report) shares traded up 5.8% on Tuesday . The stock traded as high as $21.33 and last traded at $21.23. 571,464 shares changed hands during trading, a decline of 60% from the average session volume of 1,425,859 shares. The stock had previously closed at $20.07.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on VRDN shares. 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. Needham & Company LLC restated a "buy" rating and set a $38.00 price target on shares of Viridian Therapeutics in a research report on Tuesday. Wells Fargo & Company reiterated an "equal weight" rating and issued 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 set a $34.00 price objective on shares of Viridian Therapeutics in a research note on Monday, December 16th. Finally, Royal Bank of Canada upped their target price on Viridian Therapeutics from $44.00 to $47.00 and gave the stock an "outperform" rating in a research note on Tuesday, December 17th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $35.70.

Viridian Therapeutics Price Performance

The company has a market capitalization of $1.66 billion, a PE ratio of -4.85 and a beta of 1.13. The company has a current ratio of 18.55, a quick ratio of 18.55 and a debt-to-equity ratio of 0.04. The firm has a fifty day moving average of $20.77 and a two-hundred day moving average of $18.75.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. FMR LLC grew its stake in Viridian Therapeutics by 16.8% in the third quarter. FMR LLC now owns 11,183,478 shares of the company's stock worth $254,424,000 after purchasing an additional 1,610,130 shares during the period. Novo Holdings A S increased its stake in shares of Viridian Therapeutics by 81.8% in the 2nd quarter. Novo Holdings A S now owns 2,000,000 shares of the company's stock worth $26,020,000 after acquiring an additional 900,000 shares in the last quarter. Maverick Capital Ltd. increased its stake in shares of Viridian Therapeutics by 22.9% in the 2nd quarter. Maverick Capital Ltd. now owns 3,307,945 shares of the company's stock worth $43,036,000 after acquiring an additional 615,531 shares in the last quarter. Candriam S.C.A. lifted its position in Viridian Therapeutics by 167.8% during the 2nd quarter. Candriam S.C.A. now owns 749,804 shares of the company's stock valued at $9,754,000 after acquiring an additional 469,804 shares during the period. Finally, Parkman Healthcare Partners LLC purchased a new stake in Viridian Therapeutics in the third quarter worth about $9,669,000.

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.