Viridian Therapeutics (NASDAQ:VRDN) Stock Price Down 5.6% – Here’s What Happened

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) traded down 5.6% during mid-day trading on Tuesday . The company traded as low as $12.47 and last traded at $12.56. 956,512 shares traded hands during mid-day trading, a decline of 20% from the average session volume of 1,193,014 shares. The stock had previously closed at $13.30.

Analyst Upgrades and Downgrades

VRDN has been the subject of several research analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $38.00 target price on shares of Viridian Therapeutics in a research report on Tuesday, January 7th. Royal Bank of Canada raised their target price on shares of Viridian Therapeutics from $44.00 to $47.00 and gave the company an “outperform” rating in a research note on Tuesday, December 17th. HC Wainwright reissued a “buy” rating and set a $34.00 price objective on shares of Viridian Therapeutics in a report on Monday, December 16th. Finally, Wells Fargo & Company restated an “equal weight” rating and issued a $27.00 price target (down previously from $37.00) on shares of Viridian Therapeutics in a research report on Thursday, December 19th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $35.70.

Viridian Therapeutics Trading Down 3.6 %

The company has a current ratio of 18.55, a quick ratio of 18.55 and a debt-to-equity ratio of 0.04. The company has a fifty day simple moving average of $14.96 and a 200-day simple moving average of $18.84. The company has a market capitalization of $1.05 billion, a PE ratio of -2.98 and a beta of 0.81.

Viridian Therapeutics (NASDAQ:VRDN) last released its earnings results on Thursday, February 27th. The company reported ($0.81) earnings per share for the quarter, beating the consensus estimate of ($1.05) by $0.24. The company had revenue of $0.07 million during the quarter, compared to the consensus estimate of $0.05 million. Viridian Therapeutics had a negative return on equity of 70.12% and a negative net margin of 85,127.16%. Analysts predict that Viridian Therapeutics, Inc. will post -4.03 EPS for the current year.

Institutional Investors Weigh In On Viridian Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in VRDN. SG Americas Securities LLC lifted its holdings in Viridian Therapeutics by 2.9% in the first quarter. SG Americas Securities LLC now owns 31,972 shares of the company’s stock valued at $431,000 after acquiring an additional 887 shares during the period. Rhumbline Advisers lifted its stake in shares of Viridian Therapeutics by 4.6% during the 1st quarter. Rhumbline Advisers now owns 104,559 shares of the company’s stock worth $1,409,000 after purchasing an additional 4,621 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Viridian Therapeutics by 3,892.9% during the 1st quarter. GAMMA Investing LLC now owns 8,425 shares of the company’s stock worth $114,000 after acquiring an additional 8,214 shares during the period. California State Teachers Retirement System grew its stake in shares of Viridian Therapeutics by 18.0% during the 4th quarter. California State Teachers Retirement System now owns 54,710 shares of the company’s stock valued at $1,049,000 after buying an additional 8,344 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Viridian Therapeutics by 29.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 115,782 shares of the company’s stock worth $2,220,000 after acquiring an additional 26,286 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.