Viridian Therapeutics (NASDAQ:VRDN) Shares Down 5.8% - Should You Sell?

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN - Get Free Report) dropped 5.8% during mid-day trading on Friday . The stock traded as low as $20.06 and last traded at $20.38. Approximately 222,846 shares changed hands during trading, a decline of 80% from the average daily volume of 1,112,543 shares. The stock had previously closed at $21.64.

Analyst Ratings Changes

Several analysts have commented on the company. HC Wainwright raised their price objective on Viridian Therapeutics from $27.00 to $34.00 and gave the company a "buy" rating in a report on Thursday. The Goldman Sachs Group boosted their price target on shares of Viridian Therapeutics from $25.00 to $31.00 and gave the stock a "buy" rating in a report on Thursday, September 12th. BTIG Research increased their price objective on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the company a "buy" rating in a report on Thursday, September 26th. Oppenheimer reissued an "outperform" rating and set a $28.00 target price (down previously from $31.00) on shares of Viridian Therapeutics in a research note on Monday, August 12th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $38.00 price target on shares of Viridian Therapeutics in a research note on Wednesday. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $36.33.

Viridian Therapeutics Trading Down 6.9 %

The company has a current ratio of 15.82, a quick ratio of 15.82 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of -4.67 and a beta of 1.10. The company has a fifty day moving average price of $22.64 and a two-hundred day moving average price of $16.97.

Insider Activity

In other Viridian Therapeutics news, Director Fairmount Funds Management Llc bought 1,600,000 shares of the business's stock in a transaction on Friday, September 13th. The stock was bought at an average price of $18.75 per share, with a total value of $30,000,000.00. Following the completion of the purchase, the director now directly owns 3,445,813 shares in the company, valued at $64,608,993.75. The trade was a 86.68 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Thomas W. Beetham purchased 5,000 shares of the firm's stock in a transaction dated Friday, September 27th. The stock was acquired 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 owns 6,000 shares in the company, valued at approximately $140,460. The trade was a 500.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 1,626,400 shares of company stock valued at $30,616,312. 0.65% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Viridian Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. FMR LLC increased its holdings in Viridian Therapeutics by 16.8% in the 3rd quarter. FMR LLC now owns 11,183,478 shares of the company's stock valued at $254,424,000 after purchasing an additional 1,610,130 shares during the last quarter. Maverick Capital Ltd. grew its stake in shares of Viridian Therapeutics by 22.9% in the second quarter. Maverick Capital Ltd. now owns 3,307,945 shares of the company's stock valued at $43,036,000 after buying an additional 615,531 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Viridian Therapeutics by 7.8% in the first quarter. Vanguard Group Inc. now owns 3,234,279 shares of the company's stock valued at $56,632,000 after buying an additional 233,331 shares in the last quarter. Novo Holdings A S raised its holdings in shares of Viridian Therapeutics by 19.3% in the 3rd quarter. Novo Holdings A S now owns 2,385,000 shares of the company's stock valued at $54,259,000 after buying an additional 385,000 shares during the period. Finally, Great Point Partners LLC lifted its stake in Viridian Therapeutics by 50.0% during the 3rd quarter. Great Point Partners LLC now owns 750,000 shares of the company's stock worth $17,062,000 after acquiring an additional 250,000 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.