Viridian Therapeutics (NASDAQ:VRDN) Shares Down 4.5% - What's Next?

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

Analyst Upgrades and Downgrades

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

Viridian Therapeutics Price Performance

The company has a debt-to-equity ratio of 0.04, a quick ratio of 18.55 and a current ratio of 18.55. The stock has a 50 day moving average price of $13.51 and a two-hundred day moving average price of $15.97. The company has a market capitalization of $1.19 billion, a PE ratio of -3.36 and a beta of 0.41.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.87) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.95) by $0.08. The firm had revenue of $0.07 million for the quarter, compared to analyst estimates of $0.16 million. Viridian Therapeutics had a negative net margin of 85,127.16% and a negative return on equity of 70.12%. The business's revenue for the quarter was up .0% compared to the same quarter last year. Equities analysts forecast that Viridian Therapeutics, Inc. will post -4.03 earnings per share for the current year.

Hedge Funds Weigh In On Viridian Therapeutics

Institutional investors have recently modified their holdings of the business. Foresite Capital Management VI LLC bought a new stake in shares of Viridian Therapeutics during the 4th quarter worth approximately $38,000. Amalgamated Bank raised its stake in Viridian Therapeutics by 49.7% in the 1st quarter. Amalgamated Bank now owns 2,531 shares of the company's stock valued at $34,000 after acquiring an additional 840 shares during the period. AlphaQuest LLC lifted its holdings in Viridian Therapeutics by 119.0% during the 4th quarter. AlphaQuest LLC now owns 2,795 shares of the company's stock valued at $54,000 after purchasing an additional 1,519 shares during the last quarter. Summit Investment Advisors Inc. boosted its position in Viridian Therapeutics by 24.7% during the fourth quarter. Summit Investment Advisors Inc. now owns 7,646 shares of the company's stock worth $147,000 after purchasing an additional 1,516 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of Viridian Therapeutics by 3,892.9% in the first quarter. GAMMA Investing LLC now owns 8,425 shares of the company's stock valued at $114,000 after purchasing an additional 8,214 shares during the last quarter.

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.

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