Viridian Therapeutics (NASDAQ:VRDN) Trading Down 6.7% - Should You Sell?

Viridian Therapeutics, Inc. (NASDAQ:VRDN - Get Free Report) was down 6.7% during trading on Wednesday . The company traded as low as $10.33 and last traded at $10.28. Approximately 65,546 shares traded hands during trading, a decline of 94% from the average daily volume of 1,180,984 shares. The stock had previously closed at $11.02.

Analyst Upgrades and Downgrades

VRDN has been the subject of several research analyst reports. Wells Fargo & Company reiterated an "equal weight" rating and issued a $27.00 price objective (down from $37.00) on shares of Viridian Therapeutics in a research report on Thursday, December 19th. HC Wainwright reiterated a "buy" rating and issued a $34.00 price target on shares of Viridian Therapeutics in a report on Monday, December 16th. Royal Bank of Canada raised their price objective on shares of Viridian Therapeutics from $44.00 to $47.00 and gave the stock an "outperform" rating in a report on Tuesday, December 17th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $38.00 target price on shares of Viridian Therapeutics in a research note on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, Viridian Therapeutics currently has a consensus rating of "Moderate Buy" and an average price target of $35.70.

Viridian Therapeutics Stock Performance

The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of -3.09 and a beta of 0.81. The stock's 50 day moving average price is $15.08 and its 200 day moving average price is $18.91. The company has a current ratio of 18.55, a quick ratio of 18.55 and a debt-to-equity ratio of 0.04.

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

Hedge Funds Weigh In On Viridian Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. R Squared Ltd acquired a new stake in Viridian Therapeutics in the fourth quarter valued at $26,000. Foresite Capital Management VI LLC bought a new position in Viridian Therapeutics during the fourth quarter worth about $38,000. AlphaQuest LLC grew its holdings in Viridian Therapeutics by 119.0% during the fourth quarter. AlphaQuest LLC now owns 2,795 shares of the company's stock worth $54,000 after purchasing an additional 1,519 shares during the period. GAMMA Investing LLC increased its position in Viridian Therapeutics by 3,892.9% during the first quarter. GAMMA Investing LLC now owns 8,425 shares of the company's stock worth $114,000 after buying an additional 8,214 shares during the last quarter. Finally, Summit Investment Advisors Inc. raised its stake in Viridian Therapeutics by 24.7% in the fourth quarter. Summit Investment Advisors Inc. now owns 7,646 shares of the company's stock valued at $147,000 after buying an additional 1,516 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.