Stock Traders Purchase Large Volume of Put Options on Viridian Therapeutics (NASDAQ:VRDN)

Key Points

• Unusually large bearish options bet: Traders purchased 7,501 put options on VRDN in one day, a roughly 3,294% increase versus average daily put volume, indicating heavy short-term bearish positioning.
• Shares plunged amid weak results: VRDN fell 23.9% to $14.33 on about 7.84 million shares after reporting an EPS miss (‑$1.08 vs. ‑$0.90 est.) and revenue of $0.13M versus $15.75M expected, with deeply negative margins.
• Analyst views are mixed but consensus shows upside: Several firms trimmed price targets recently, yet MarketBeat lists a "Moderate Buy" consensus with a mean target of $39.21 (13 Buys, 1 Hold, 1 Sell), reflecting divergent expectations.

Viridian Therapeutics, Inc. (NASDAQ:VRDN - Get Free Report) saw unusually large options trading activity on Monday. Traders acquired 7,501 put options on the company. This represents an increase of 3,294% compared to the average daily volume of 221 put options.

Viridian Therapeutics Stock Down 23.9%

Shares of Viridian Therapeutics stock traded down $4.51 on Monday, reaching $14.33. The company's stock had a trading volume of 7,837,651 shares, compared to its average volume of 1,809,330. Viridian Therapeutics has a 52 week low of $9.90 and a 52 week high of $34.29. The firm's fifty day simple moving average is $28.35 and its two-hundred day simple moving average is $27.90. The company has a quick ratio of 12.65, a current ratio of 12.65 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of -4.40 and a beta of 1.16.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last released its quarterly earnings data on Thursday, February 26th. The company reported ($1.08) EPS for the quarter, missing the consensus estimate of ($0.90) by ($0.18). Viridian Therapeutics had a negative net margin of 483.57% and a negative return on equity of 83.25%. The business had revenue of $0.13 million for the quarter, compared to analysts' expectations of $15.75 million. Equities analysts anticipate that Viridian Therapeutics will post -4.03 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on VRDN shares. HC Wainwright reduced their price target on Viridian Therapeutics from $34.00 to $22.00 and set a "buy" rating on the stock in a report on Tuesday, March 31st. Wedbush reduced their target price on Viridian Therapeutics from $44.00 to $37.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 31st. Wells Fargo & Company decreased their target price on Viridian Therapeutics from $29.00 to $20.00 and set an "equal weight" rating for the company in a report on Tuesday, March 31st. Wall Street Zen cut shares of Viridian Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, March 7th. Finally, Evercore reissued an "outperform" rating and set a $44.00 price objective on shares of Viridian Therapeutics in a research report on Tuesday, January 20th. Thirteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $39.21.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. ANTIPODES PARTNERS Ltd purchased a new stake in Viridian Therapeutics in the fourth quarter worth approximately $36,000. Aster Capital Management DIFC Ltd purchased a new stake in Viridian Therapeutics during the 3rd quarter valued at $35,000. Farther Finance Advisors LLC lifted its holdings in shares of Viridian Therapeutics by 332.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,940 shares of the company's stock valued at $42,000 after buying an additional 1,491 shares during the period. Bessemer Group Inc. lifted its holdings in shares of Viridian Therapeutics by 947.7% during the 3rd quarter. Bessemer Group Inc. now owns 2,085 shares of the company's stock valued at $45,000 after buying an additional 1,886 shares during the period. Finally, Larson Financial Group LLC purchased a new position in shares of Viridian Therapeutics in the 3rd quarter worth $52,000.

Viridian Therapeutics Company Profile

Viridian Therapeutics, Inc NASDAQ: VRDN is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted antibody therapeutics for patients suffering from rare and serious diseases. The company's lead program, VRDN-001, is a fully human monoclonal antibody that antagonizes the insulin-like growth factor-1 receptor (IGF-1R), with an initial focus on thyroid eye disease (TED). By selectively inhibiting IGF-1R signaling, VRDN-001 aims to reduce inflammation and tissue remodeling associated with TED and related disorders.

In addition to VRDN-001, Viridian is advancing a second antibody program, VRDN-002, which targets complement-mediated pathways implicated in autoimmune and inflammatory diseases.

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