Viridian Therapeutics (NASDAQ:VRDN) Trading Down 7.5%

Viridian Therapeutics, Inc. (NASDAQ:VRDN - Get Free Report)'s stock price fell 7.5% during mid-day trading on Wednesday . The company traded as low as $15.53 and last traded at $15.58. 143,132 shares traded hands during trading, a decline of 85% from the average session volume of 939,045 shares. The stock had previously closed at $16.85.

Analyst Ratings Changes

Several research firms have recently issued reports on VRDN. Royal Bank of Canada reissued an "outperform" rating and set a $35.00 target price on shares of Viridian Therapeutics in a report on Thursday, December 14th. HC Wainwright reaffirmed a "buy" rating and issued a $37.00 target price on shares of Viridian Therapeutics in a report on Thursday, February 29th. Oppenheimer boosted their price target on Viridian Therapeutics from $35.00 to $36.00 and gave the stock an "outperform" rating in a report on Tuesday, December 19th. B. Riley reduced their price objective on Viridian Therapeutics from $29.00 to $25.00 and set a "buy" rating on the stock in a research note on Thursday, March 21st. Finally, Wedbush increased their target price on shares of Viridian Therapeutics from $39.00 to $40.00 and gave the stock an "outperform" rating in a report on Wednesday, February 28th. Ten research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $36.60.

Viridian Therapeutics Stock Down 4.4 %

The stock has a 50-day moving average price of $18.22 and a 200-day moving average price of $17.53. The company has a market capitalization of $1.01 billion, a P/E ratio of -2.99 and a beta of 1.07. The company has a debt-to-equity ratio of 0.09, a current ratio of 18.26 and a quick ratio of 18.26.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last announced its earnings results on Tuesday, February 27th. The company reported ($1.35) EPS for the quarter, missing the consensus estimate of ($0.98) by ($0.37). Viridian Therapeutics had a negative net margin of 75,711.48% and a negative return on equity of 121.80%. The business had revenue of $0.07 million for the quarter, compared to the consensus estimate of $0.15 million. During the same quarter in the previous year, the company earned ($1.13) EPS. The firm's revenue for the quarter was down 31.4% on a year-over-year basis. On average, research analysts predict that Viridian Therapeutics, Inc. will post -4.39 EPS for the current fiscal year.

Insider Activity

In other Viridian Therapeutics news, Director Fairmount Funds Management Llc acquired 476,190 shares of the company's stock in a transaction on Monday, January 22nd. The shares were purchased at an average cost of $21.00 per share, with a total value of $9,999,990.00. Following the completion of the purchase, the director now owns 1,839,954 shares of the company's stock, valued at $38,639,034. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.43% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Viridian Therapeutics

Several large investors have recently bought and sold shares of VRDN. Vestal Point Capital LP purchased a new position in shares of Viridian Therapeutics in the fourth quarter worth about $21,780,000. Alliancebernstein L.P. bought a new stake in Viridian Therapeutics during the 4th quarter valued at $26,985,000. State Street Corp lifted its position in shares of Viridian Therapeutics by 159.0% during the third quarter. State Street Corp now owns 1,178,549 shares of the company's stock worth $24,172,000 after acquiring an additional 723,484 shares in the last quarter. Perceptive Advisors LLC boosted its holdings in shares of Viridian Therapeutics by 71.1% in the fourth quarter. Perceptive Advisors LLC now owns 1,730,212 shares of the company's stock worth $37,684,000 after acquiring an additional 719,007 shares during the period. Finally, RTW Investments LP purchased a new position in shares of Viridian Therapeutics in the fourth quarter valued at $13,195,000.

About Viridian Therapeutics

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.