Viridian Therapeutics (NASDAQ:VRDN) Shares Gap Down to $15.40

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) gapped down before the market opened on Thursday . The stock had previously closed at $15.40, but opened at $14.63. Viridian Therapeutics shares last traded at $14.95, with a volume of 125,505 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. The Goldman Sachs Group started coverage on Viridian Therapeutics in a research note on Thursday, June 6th. They issued a “buy” rating and a $23.00 target price on the stock. LADENBURG THALM/SH SH downgraded shares of Viridian Therapeutics from a “buy” rating to a “neutral” rating in a research report on Thursday, May 9th. Wolfe Research initiated coverage on shares of Viridian Therapeutics in a research note on Tuesday, June 11th. They issued an “outperform” rating and a $29.00 target price on the stock. Needham & Company LLC reissued a “buy” rating and set a $30.00 price target on shares of Viridian Therapeutics in a research report on Tuesday, June 11th. Finally, Oppenheimer lowered their price objective on Viridian Therapeutics from $36.00 to $31.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $31.50.

Viridian Therapeutics Stock Performance

The business has a 50-day moving average of $13.76 and a 200 day moving average of $15.60. The company has a debt-to-equity ratio of 0.05, a current ratio of 23.99 and a quick ratio of 23.99. The company has a market cap of $958.58 million, a PE ratio of -3.34 and a beta of 1.13.

Viridian Therapeutics (NASDAQ:VRDN) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.79) earnings per share 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 analysts’ expectations of $0.09 million. During the same quarter in the prior year, the business earned ($1.61) EPS. The business’s quarterly revenue was down 26.5% on a year-over-year basis. Equities research analysts anticipate that Viridian Therapeutics, Inc. will post -3.61 EPS for the current fiscal year.

Institutional Trading of Viridian Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of VRDN. Vanguard Group Inc. lifted its holdings in Viridian Therapeutics by 7.8% in the 1st quarter. Vanguard Group Inc. now owns 3,234,279 shares of the company’s stock worth $56,632,000 after purchasing an additional 233,331 shares in the last quarter. Perceptive Advisors LLC grew its stake in 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 acquiring an additional 719,007 shares in the last quarter. Vestal Point Capital LP bought a new stake in Viridian Therapeutics in the 4th quarter valued at $21,780,000. Candriam S.C.A. lifted its stake in Viridian Therapeutics by 167.8% in the 2nd quarter. Candriam S.C.A. now owns 749,804 shares of the company’s stock worth $9,754,000 after purchasing an additional 469,804 shares in the last quarter. Finally, RTW Investments LP bought a new position in shares of Viridian Therapeutics during the 4th 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.