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

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

Wall Street Analysts Forecast Growth

Several research analysts recently commented on VRDN shares. B. Riley downgraded shares of Viridian Therapeutics from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $25.00 to $20.00 in a report on Thursday, May 9th. The Goldman Sachs Group began coverage on Viridian Therapeutics in a research report on Thursday, June 6th. They set a “buy” rating and a $23.00 price objective for the company. Oppenheimer lowered their target price on Viridian Therapeutics from $36.00 to $31.00 and set an “outperform” rating on the stock in a report on Thursday, May 9th. LADENBURG THALM/SH SH lowered Viridian Therapeutics from a “buy” rating to a “neutral” rating in a report on Thursday, May 9th. Finally, Needham & Company LLC restated a “buy” rating and issued a $30.00 price objective on shares of Viridian Therapeutics in a research note on Tuesday, June 11th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Viridian Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $32.00.

Viridian Therapeutics Stock Up 3.8 %

The business’s 50 day moving average price is $13.15 and its 200-day moving average price is $17.06. 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. The firm had revenue of $0.07 million during the quarter, compared to analyst estimates of $0.09 million. Viridian Therapeutics had a negative net margin of 75,737.85% and a negative return on equity of 92.04%. The company’s quarterly revenue was down 26.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.61) earnings per share. As a group, equities research analysts forecast that Viridian Therapeutics, Inc. will post -3.61 earnings per share for the current year.

Institutional Trading of Viridian Therapeutics

Several institutional investors have recently bought and sold shares of VRDN. Vestal Point Capital LP bought a new position in shares of Viridian Therapeutics during the fourth quarter valued at $21,780,000. Perceptive Advisors LLC boosted its position in Viridian Therapeutics by 71.1% in 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 in the last quarter. RTW Investments LP bought a new stake in Viridian Therapeutics during the fourth quarter worth about $13,195,000. Braidwell LP increased its holdings in shares of Viridian Therapeutics by 43.8% during the third quarter. Braidwell LP now owns 1,735,182 shares of the company’s stock worth $26,618,000 after buying an additional 528,882 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Viridian Therapeutics by 7.8% in the first quarter. Vanguard Group Inc. now owns 3,234,279 shares of the company’s stock valued at $56,632,000 after acquiring an additional 233,331 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.