Viridian Therapeutics (NASDAQ:VRDN) Shares Down 5% - Should You Sell?

Viridian Therapeutics, Inc. (NASDAQ:VRDN - Get Free Report)'s share price dropped 5% during trading on Wednesday . The stock traded as low as $17.07 and last traded at $16.96. Approximately 130,343 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 1,151,976 shares. The stock had previously closed at $17.86.

Analyst Upgrades and Downgrades

VRDN has been the subject of several research analyst reports. Wells Fargo & Company restated an "equal weight" rating and set a $27.00 price target (down from $37.00) on shares of Viridian Therapeutics in a research note on Thursday, December 19th. Needham & Company LLC reiterated a "buy" rating and issued a $38.00 target price on shares of Viridian Therapeutics in a research note on Tuesday, January 7th. HC Wainwright reiterated a "buy" rating and issued a $34.00 target price on shares of Viridian Therapeutics in a research note on Monday, December 16th. Royal Bank of Canada increased their target price on Viridian Therapeutics from $44.00 to $47.00 and gave the company an "outperform" rating in a research note on Tuesday, December 17th. Finally, TD Cowen assumed coverage on Viridian Therapeutics in a report on Monday, November 25th. They issued a "buy" rating for the company. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, Viridian Therapeutics currently has a consensus rating of "Moderate Buy" and an average price target of $35.70.

Viridian Therapeutics Trading Down 3.6 %

The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of -3.81 and a beta of 1.32. The firm has a 50-day moving average price of $18.87 and a 200-day moving average price of $19.62. The company has a current ratio of 18.55, a quick ratio of 18.55 and a debt-to-equity ratio of 0.04.

Institutional Investors Weigh In On Viridian Therapeutics

Several large investors have recently modified their holdings of VRDN. FMR LLC boosted its stake in shares of Viridian Therapeutics by 16.8% during the 3rd quarter. FMR LLC now owns 11,183,478 shares of the company's stock worth $254,424,000 after acquiring an additional 1,610,130 shares in the last quarter. Loomis Sayles & Co. L P acquired a new stake in shares of Viridian Therapeutics in the fourth quarter worth $26,845,000. Price T Rowe Associates Inc. MD boosted its position in shares of Viridian Therapeutics by 2,847.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,326,811 shares of the company's stock worth $25,436,000 after buying an additional 1,281,799 shares during the period. Adage Capital Partners GP L.L.C. boosted its position in shares of Viridian Therapeutics by 38.6% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,670,000 shares of the company's stock worth $32,014,000 after buying an additional 465,000 shares during the period. Finally, Parkman Healthcare Partners LLC acquired a new stake in shares of Viridian Therapeutics in the third quarter worth $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.