Viridian Therapeutics (NASDAQ:VRDN) Shares Down 4.5% - Here's Why

Viridian Therapeutics, Inc. (NASDAQ:VRDN - Get Free Report) was down 4.5% during trading on Tuesday . The company traded as low as $15.22 and last traded at $15.22. Approximately 52,451 shares changed hands during mid-day trading, a decline of 96% from the average daily volume of 1,174,024 shares. The stock had previously closed at $15.94.

Analysts Set New Price Targets

A number of research analysts recently commented on VRDN shares. HC Wainwright reaffirmed a "buy" rating and issued a $34.00 target price on shares of Viridian Therapeutics in a research report on Wednesday, April 23rd. JMP Securities reduced their target price on shares of Viridian Therapeutics from $42.00 to $38.00 and set a "market outperform" rating for the company in a research note on Wednesday, May 7th. The Goldman Sachs Group reduced their target price on shares of Viridian Therapeutics from $31.00 to $27.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Royal Bank Of Canada reduced their target price on shares of Viridian Therapeutics from $46.00 to $45.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Finally, Needham & Company LLC restated a "buy" rating and issued a $36.00 target price on shares of Viridian Therapeutics in a research note on Tuesday, May 20th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, Viridian Therapeutics presently has an average rating of "Moderate Buy" and a consensus price target of $37.56.

Viridian Therapeutics Price Performance

The company has a debt-to-equity ratio of 0.05, a current ratio of 19.49 and a quick ratio of 19.49. The company's 50 day moving average is $13.76 and its 200 day moving average is $15.88. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of -3.82 and a beta of 0.41.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.87) EPS for the quarter, beating the consensus estimate of ($0.95) by $0.08. Viridian Therapeutics had a negative net margin of 102,092.39% and a negative return on equity of 70.61%. The firm had revenue of $0.07 million during the quarter, compared to analysts' expectations of $0.16 million. The business's revenue for the quarter was up .0% compared to the same quarter last year. Research analysts forecast that Viridian Therapeutics, Inc. will post -4.03 earnings per share for the current fiscal year.

Institutional Trading of Viridian Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in VRDN. Loomis Sayles & Co. L P acquired a new stake in shares of Viridian Therapeutics in the fourth quarter valued at about $26,845,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Viridian Therapeutics by 2,847.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,326,811 shares of the company's stock valued at $25,436,000 after purchasing an additional 1,281,799 shares during the period. Deep Track Capital LP increased its holdings in Viridian Therapeutics by 20.6% during the 4th quarter. Deep Track Capital LP now owns 4,522,741 shares of the company's stock valued at $86,701,000 after acquiring an additional 771,796 shares in the last quarter. FMR LLC increased its holdings in Viridian Therapeutics by 6.2% during the 4th quarter. FMR LLC now owns 11,881,912 shares of the company's stock valued at $227,776,000 after acquiring an additional 698,434 shares in the last quarter. Finally, Parkman Healthcare Partners LLC increased its holdings in Viridian Therapeutics by 155.9% during the 4th quarter. Parkman Healthcare Partners LLC now owns 1,087,634 shares of the company's stock valued at $20,850,000 after acquiring an additional 662,634 shares in the last quarter.

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.