Viridian Therapeutics (NASDAQ:VRDN) Shares Down 5.8% – Time to Sell?

Viridian Therapeutics, Inc. (NASDAQ:VRDN) fell 5.8% during trading on Friday . The company traded as low as $20.06 and last traded at $20.38. 222,846 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 1,112,543 shares. The stock had previously closed at $21.64.

Analysts Set New Price Targets

VRDN has been the topic of a number of recent analyst reports. Wedbush reissued an “outperform” rating and set a $42.00 price target on shares of Viridian Therapeutics in a research report on Monday, July 29th. The Goldman Sachs Group increased their price target on Viridian Therapeutics from $25.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $44.00 price objective on shares of Viridian Therapeutics in a report on Thursday, September 19th. BTIG Research lifted their target price on Viridian Therapeutics from $56.00 to $61.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Finally, HC Wainwright upped their price target on shares of Viridian Therapeutics from $27.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Viridian Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $36.33.

Viridian Therapeutics Trading Down 6.9 %

The company has a debt-to-equity ratio of 0.05, a quick ratio of 15.82 and a current ratio of 15.82. The firm has a 50-day moving average of $22.64 and a 200-day moving average of $16.99. The firm has a market capitalization of $1.60 billion, a P/E ratio of -4.67 and a beta of 1.10.

Viridian Therapeutics (NASDAQ:VRDN) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($1.15) EPS for the quarter, missing the consensus estimate of ($1.11) by ($0.04). The firm had revenue of $0.09 million for the quarter, compared to the consensus estimate of $0.08 million. Viridian Therapeutics had a negative net margin of 85,127.16% and a negative return on equity of 81.36%. On average, equities research analysts anticipate that Viridian Therapeutics, Inc. will post -3.94 EPS for the current fiscal year.

Insider Buying and Selling at Viridian Therapeutics

In related news, Director Fairmount Funds Management Llc purchased 1,600,000 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were purchased at an average price of $18.75 per share, with a total value of $30,000,000.00. Following the acquisition, the director now directly owns 3,445,813 shares in the company, valued at $64,608,993.75. The trade was a 86.68 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Stephen F. Mahoney acquired 21,400 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was purchased at an average cost of $23.33 per share, with a total value of $499,262.00. Following the acquisition, the chief executive officer now directly owns 21,400 shares of the company’s stock, valued at $499,262. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 1,626,400 shares of company stock valued at $30,616,312. 0.65% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Viridian Therapeutics by 4.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,822 shares of the company’s stock worth $505,000 after purchasing an additional 1,135 shares in the last quarter. Swiss National Bank raised its holdings in Viridian Therapeutics by 23.4% during the 1st quarter. Swiss National Bank now owns 82,900 shares of the company’s stock valued at $1,452,000 after buying an additional 15,700 shares during the period. Vanguard Group Inc. raised its holdings 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 worth $56,632,000 after buying an additional 233,331 shares during the period. Ameritas Investment Partners Inc. lifted its position in shares of Viridian Therapeutics by 19.2% during the first quarter. Ameritas Investment Partners Inc. now owns 4,961 shares of the company’s stock worth $87,000 after purchasing an additional 799 shares during the last quarter. Finally, American International Group Inc. boosted its position in Viridian Therapeutics by 15.4% in the 1st quarter. American International Group Inc. now owns 24,515 shares of the company’s stock valued at $429,000 after buying an additional 3,266 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.