Viridian Therapeutics (NASDAQ:VRDN) Shares Gap Down After Analyst Downgrade

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN - Get Free Report) gapped down before the market opened on Thursday after HC Wainwright lowered their price target on the stock from $37.00 to $27.00. The stock had previously closed at $14.90, but opened at $14.18. HC Wainwright currently has a buy rating on the stock. Viridian Therapeutics shares last traded at $13.96, with a volume of 105,529 shares changing hands.

VRDN has been the subject of a number of other research reports. B. Riley cut shares of Viridian Therapeutics from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $25.00 to $20.00 in a research report on Thursday. LADENBURG THALM/SH SH cut shares of Viridian Therapeutics from a "buy" rating to a "neutral" rating in a report on Thursday. Needham & Company LLC reaffirmed a "buy" rating and issued a $30.00 price target on shares of Viridian Therapeutics in a research report on Thursday. Oppenheimer reduced their price objective on shares of Viridian Therapeutics from $36.00 to $31.00 and set an "outperform" rating on the stock in a report on Thursday. Finally, Wedbush upped their target price on shares of Viridian Therapeutics from $39.00 to $40.00 and gave the company an "outperform" rating in a report on Wednesday, February 28th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Viridian Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus price target of $34.60.

Hedge Funds Weigh In On Viridian Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Swiss National Bank lifted its stake in shares of Viridian Therapeutics by 1.2% in the 4th quarter. Swiss National Bank now owns 67,200 shares of the company's stock worth $1,464,000 after acquiring an additional 800 shares during the period. Knights of Columbus Asset Advisors LLC lifted its position in Viridian Therapeutics by 2.9% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 29,553 shares of the company's stock valued at $453,000 after purchasing an additional 823 shares during the period. Principal Financial Group Inc. boosted its holdings in Viridian Therapeutics by 9.7% in the 1st quarter. Principal Financial Group Inc. now owns 11,915 shares of the company's stock valued at $209,000 after purchasing an additional 1,058 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Viridian Therapeutics by 4.1% during the 1st 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 during the period. Finally, New York State Common Retirement Fund raised its stake in shares of Viridian Therapeutics by 9.7% during the 4th quarter. New York State Common Retirement Fund now owns 17,495 shares of the company's stock worth $378,000 after buying an additional 1,545 shares in the last quarter.

Viridian Therapeutics Stock Down 6.6 %

The company has a debt-to-equity ratio of 0.09, a quick ratio of 18.26 and a current ratio of 18.26. The firm has a market capitalization of $887.74 million, a price-to-earnings ratio of -2.61 and a beta of 1.14. The firm has a fifty day moving average price of $16.46 and a 200 day moving average price of $17.64.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last issued its earnings results on Wednesday, May 8th. The company reported ($0.79) EPS for the quarter, topping the consensus estimate of ($1.07) by $0.28. The company had revenue of $0.07 million for the quarter, compared to analyst estimates of $0.09 million. Viridian Therapeutics had a negative net margin of 75,711.48% and a negative return on equity of 121.80%. The business's revenue was down 26.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.61) EPS. As a group, sell-side analysts expect that Viridian Therapeutics, Inc. will post -4.39 EPS for the current fiscal year.

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.