Viridian Therapeutics (NASDAQ:VRDN) Stock Price Down 4.9%

Viridian Therapeutics, Inc. (NASDAQ:VRDN)’s stock price was down 4.9% during trading on Wednesday . The stock traded as low as $12.09 and last traded at $12.14. Approximately 62,156 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 955,318 shares. The stock had previously closed at $12.76.

Analyst Upgrades and Downgrades

VRDN has been the subject of several research analyst reports. Wolfe Research started coverage on shares of Viridian Therapeutics in a report on Tuesday, June 11th. They issued an “outperform” rating and a $29.00 price target for the company. The Goldman Sachs Group assumed coverage on shares of Viridian Therapeutics in a research report on Thursday, June 6th. They set a “buy” rating and a $23.00 price objective for the company. HC Wainwright cut their price objective on shares of Viridian Therapeutics from $37.00 to $27.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Wedbush increased their target price on Viridian Therapeutics from $39.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, February 28th. Finally, Oppenheimer cut their price target on Viridian Therapeutics from $36.00 to $31.00 and set an “outperform” rating on the stock in a report on Thursday, May 9th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Viridian Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $32.00.

Viridian Therapeutics Stock Performance

The stock has a market capitalization of $777.33 million, a P/E ratio of -2.68 and a beta of 1.03. The stock has a 50 day simple moving average of $13.25 and a two-hundred day simple moving average of $17.13. The company has a quick ratio of 23.99, a current ratio of 23.99 and a debt-to-equity ratio of 0.05.

Viridian Therapeutics (NASDAQ:VRDN) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.79) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.07) by $0.28. Viridian Therapeutics had a negative net margin of 75,737.85% and a negative return on equity of 92.04%. The firm had revenue of $0.07 million for the quarter, compared to analyst estimates of $0.09 million. During the same period in the prior year, the firm posted ($1.61) earnings per share. The company’s quarterly revenue was down 26.5% compared to the same quarter last year. On average, equities analysts forecast that Viridian Therapeutics, Inc. will post -3.61 EPS for the current fiscal year.

Hedge Funds Weigh In On Viridian Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. RTW Investments LP bought a new stake in shares of Viridian Therapeutics during the 4th quarter worth about $13,195,000. Perceptive Advisors LLC grew its holdings in Viridian Therapeutics by 71.1% in the 4th 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 in the last quarter. Dark Forest Capital Management LP bought a new position in Viridian Therapeutics during the 3rd quarter worth $264,000. Schonfeld Strategic Advisors LLC boosted its position in shares of Viridian Therapeutics by 362.3% in the third quarter. Schonfeld Strategic Advisors LLC now owns 108,037 shares of the company’s stock valued at $1,657,000 after acquiring an additional 84,670 shares during the period. Finally, StoneCrest Wealth Management Inc. acquired a new position in shares of Viridian Therapeutics in the fourth quarter valued at about $605,000.

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.