Viridian Therapeutics (NASDAQ:VRDN) Trading Down 6.2%

Viridian Therapeutics, Inc. (NASDAQ:VRDN)’s share price fell 6.2% during trading on Wednesday . The stock traded as low as $13.34 and last traded at $13.37. 239,014 shares were traded during trading, a decline of 74% from the average session volume of 922,243 shares. The stock had previously closed at $14.25.

Analyst Upgrades and Downgrades

Several research firms have recently commented on VRDN. Needham & Company LLC restated a “buy” rating and set a $30.00 price target on shares of Viridian Therapeutics in a report on Wednesday, March 20th. B. Riley reduced their price objective on shares of Viridian Therapeutics from $29.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, March 21st. Wedbush lifted their price objective on shares of Viridian Therapeutics from $39.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, February 28th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $37.00 price objective on shares of Viridian Therapeutics in a research note on Thursday, February 29th. Ten analysts have rated the stock with a buy rating, According to MarketBeat, Viridian Therapeutics presently has a consensus rating of “Buy” and an average target price of $36.60.

Viridian Therapeutics Stock Performance

The stock has a market cap of $808.48 million, a price-to-earnings ratio of -2.42 and a beta of 1.07. The company has a debt-to-equity ratio of 0.09, a quick ratio of 18.26 and a current ratio of 18.26. The stock’s 50-day simple moving average is $17.18 and its two-hundred day simple moving average is $17.48.

Viridian Therapeutics (NASDAQ:VRDN) last released its earnings results on Tuesday, February 27th. The company reported ($1.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.98) by ($0.37). The firm had revenue of $0.07 million for the quarter, compared to analyst estimates of $0.15 million. Viridian Therapeutics had a negative return on equity of 121.80% and a negative net margin of 75,711.48%. The firm’s revenue was down 31.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.13) EPS. Analysts forecast that Viridian Therapeutics, Inc. will post -4.39 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. raised its position in shares of Viridian Therapeutics by 44.9% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 109,820 shares of the company’s stock valued at $1,923,000 after buying an additional 34,040 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Viridian Therapeutics during the fourth quarter valued at about $424,000. Perceptive Advisors LLC raised its position in shares of Viridian Therapeutics by 71.1% during the fourth quarter. Perceptive Advisors LLC now owns 1,730,212 shares of the company’s stock valued at $37,684,000 after buying an additional 719,007 shares during the last quarter. Vestal Point Capital LP acquired a new position in shares of Viridian Therapeutics during the fourth quarter valued at about $21,780,000. Finally, RTW Investments LP acquired a new position in shares of Viridian Therapeutics during the fourth quarter valued at about $13,195,000.

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.