Viridian Therapeutics (NASDAQ:VRDN) Trading Down 3.4% - What's Next?

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN - Get Free Report) traded down 3.4% during trading on Tuesday . The company traded as low as $18.77 and last traded at $19.01. 81,134 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 1,168,239 shares. The stock had previously closed at $19.67.

Analysts Set New Price Targets

VRDN has been the topic of several analyst reports. Needham & Company LLC reissued a "buy" rating and issued a $38.00 price target on shares of Viridian Therapeutics in a report on Monday, November 25th. Wells Fargo & Company reissued an "equal weight" rating and issued a $27.00 target price (down from $37.00) on shares of Viridian Therapeutics in a research note on Thursday, December 19th. TD Cowen initiated coverage on Viridian Therapeutics in a report on Monday, November 25th. They issued a "buy" rating for the company. Royal Bank of Canada lifted their price objective on Viridian Therapeutics from $44.00 to $47.00 and gave the company an "outperform" rating in a report on Tuesday, December 17th. Finally, BTIG Research increased their target price on Viridian Therapeutics from $56.00 to $61.00 and gave the stock a "buy" rating in a research note on Thursday, September 26th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $35.70.

Viridian Therapeutics Stock Down 1.8 %

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 stock has a market capitalization of $1.53 billion, a PE ratio of -4.48 and a beta of 1.04. The stock's fifty day simple moving average is $21.64 and its 200-day simple moving average is $18.25.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($1.15) EPS for the quarter, missing analysts' consensus estimates of ($1.11) by ($0.04). The business 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%. As a group, sell-side analysts forecast that Viridian Therapeutics, Inc. will post -4.03 EPS for the current fiscal year.

Insider Transactions at Viridian Therapeutics

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

Hedge Funds Weigh In On Viridian Therapeutics

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