Viridian Therapeutics (NASDAQ:VRDN) Stock Price Down 6.2%

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

Analysts Set New Price Targets

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

Viridian Therapeutics Stock Performance

The firm’s 50-day moving average price is $17.53 and its 200 day moving average price is $17.55. The company has a market cap of $817.89 million, a price-to-earnings ratio of -2.52 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.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Viridian Therapeutics by 122.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,369 shares of the company’s stock worth $182,000 after purchasing an additional 4,610 shares during the last quarter. Arizona State Retirement System acquired a new position in shares of Viridian Therapeutics during the 4th quarter worth $208,000. Raymond James & Associates grew its position in Viridian Therapeutics by 71.1% during the 3rd quarter. Raymond James & Associates now owns 15,164 shares of the company’s stock worth $233,000 after acquiring an additional 6,303 shares during the last quarter. Dark Forest Capital Management LP bought a new stake in Viridian Therapeutics during the 3rd quarter worth $264,000. Finally, New York State Common Retirement Fund grew its position in shares of Viridian Therapeutics by 9.7% in the 4th quarter. New York State Common Retirement Fund now owns 17,495 shares of the company’s stock valued at $378,000 after buying an additional 1,545 shares during 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.