Viridian Therapeutics (NASDAQ:VRDN) Stock Price Down 3.7%

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) fell 3.7% on Tuesday . The stock traded as low as $12.72 and last traded at $12.72. 22,512 shares were traded during mid-day trading, a decline of 98% from the average session volume of 965,344 shares. The stock had previously closed at $13.21.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on VRDN. Oppenheimer cut their price objective on shares of Viridian Therapeutics from $36.00 to $31.00 and set an “outperform” rating for the company in a report on Thursday, May 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $30.00 target price on shares of Viridian Therapeutics in a research note on Tuesday, June 11th. LADENBURG THALM/SH SH cut shares of Viridian Therapeutics from a “buy” rating to a “neutral” rating in a research note on Thursday, May 9th. HC Wainwright dropped their price objective on shares of Viridian Therapeutics from $37.00 to $27.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Finally, B. Riley cut Viridian Therapeutics from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $25.00 to $20.00 in a report on Thursday, May 9th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.00.

Viridian Therapeutics Trading Up 0.7 %

The company has a debt-to-equity ratio of 0.05, a quick ratio of 23.99 and a current ratio of 23.99. The company has a 50 day simple moving average of $13.04 and a two-hundred day simple moving average of $16.89.

Viridian Therapeutics (NASDAQ:VRDN) last announced its earnings results on Wednesday, May 8th. The company reported ($0.79) EPS for the quarter, topping analysts’ consensus estimates of ($1.07) by $0.28. Viridian Therapeutics had a negative return on equity of 92.04% and a negative net margin of 75,737.85%. The firm had revenue of $0.07 million during the quarter, compared to analysts’ expectations of $0.09 million. During the same quarter in the previous year, the business earned ($1.61) EPS. The company’s quarterly revenue was down 26.5% on a year-over-year basis. As a group, analysts predict that Viridian Therapeutics, Inc. will post -3.61 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. RTW Investments LP purchased a new position in shares of Viridian Therapeutics during the 4th quarter worth about $13,195,000. Perceptive Advisors LLC boosted its position in shares of 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 buying an additional 719,007 shares during the period. Schonfeld Strategic Advisors LLC grew its stake in shares of Viridian Therapeutics by 362.3% during the third quarter. Schonfeld Strategic Advisors LLC now owns 108,037 shares of the company’s stock valued at $1,657,000 after buying an additional 84,670 shares during the last quarter. StoneCrest Wealth Management Inc. bought a new position in shares of Viridian Therapeutics during the fourth quarter valued at approximately $605,000. Finally, Knights of Columbus Asset Advisors LLC raised its holdings in shares of Viridian Therapeutics by 420.9% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 153,949 shares of the company’s stock worth $3,353,000 after buying an additional 124,396 shares during the period.

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.