Viridian Therapeutics (NASDAQ:VRDN) Trading Down 3.5% - Time to Sell?

Key Points

• Viridian Therapeutics stock declined by 3.5% on Monday, trading as low as $16.63 after the previous close of $17.41, with a significantly reduced trading volume of 38,629 shares.
• Wall Street analysts have mixed ratings for the stock, with target price cuts from JMP Securities to $38 and Goldman Sachs to $27, while Needham & Company reaffirmed a buy rating with a target of $36.
• The company's recent quarterly earnings reported a loss of ($0.87) per share, surpassing estimates but showing a negative net margin of 102,092.39% and revenue significantly below expectations.

Viridian Therapeutics, Inc. (NASDAQ:VRDN - Get Free Report) shares fell 3.5% on Monday . The company traded as low as $16.63 and last traded at $16.80. 38,629 shares were traded during trading, a decline of 96% from the average session volume of 892,468 shares. The stock had previously closed at $17.41.

Analysts Set New Price Targets

VRDN has been the topic of a number of recent analyst reports. The Goldman Sachs Group raised their price target on Viridian Therapeutics from $27.00 to $30.00 and gave the company a "buy" rating in a report on Thursday. Needham & Company LLC cut their target price on Viridian Therapeutics from $36.00 to $34.00 and set a "buy" rating for the company in a research report on Wednesday. HC Wainwright reissued a "buy" rating and issued a $34.00 price target on shares of Viridian Therapeutics in a report on Wednesday, April 23rd. Royal Bank Of Canada cut their price objective on shares of Viridian Therapeutics from $45.00 to $41.00 and set an "outperform" rating for the company in a report on Thursday. Finally, Oppenheimer lifted their price objective on shares of Viridian Therapeutics from $28.00 to $32.00 and gave the company an "outperform" rating in a research report on Thursday. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $37.00.

Viridian Therapeutics Trading Down 3.3%

The company has a 50-day moving average price of $15.89 and a two-hundred day moving average price of $15.23. The stock has a market cap of $1.30 billion, a P/E ratio of -4.17 and a beta of 0.42. The company has a current ratio of 19.49, a quick ratio of 19.49 and a debt-to-equity ratio of 0.05.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($1.00) earnings per share for the quarter, hitting the consensus estimate of ($1.00). The business had revenue of $0.08 million during the quarter, compared to analysts' expectations of $0.05 million. Viridian Therapeutics had a negative return on equity of 72.85% and a negative net margin of 112,806.88%. The business's revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.81) EPS. On average, research analysts expect that Viridian Therapeutics, Inc. will post -4.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Viridian Therapeutics

Large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Viridian Therapeutics by 4.0% during the fourth quarter. Vanguard Group Inc. now owns 4,595,049 shares of the company's stock valued at $88,087,000 after purchasing an additional 174,952 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Viridian Therapeutics by 11.1% in the 4th quarter. Geode Capital Management LLC now owns 1,658,980 shares of the company's stock valued at $31,809,000 after acquiring an additional 165,669 shares during the period. ExodusPoint Capital Management LP bought a new position in shares of Viridian Therapeutics in the 4th quarter worth $493,000. FMR LLC lifted its stake in shares of Viridian Therapeutics by 6.2% during the 4th quarter. FMR LLC now owns 11,881,912 shares of the company's stock worth $227,776,000 after purchasing an additional 698,434 shares during the last quarter. Finally, Invesco Ltd. boosted its position in Viridian Therapeutics by 59.5% during the fourth quarter. Invesco Ltd. now owns 33,099 shares of the company's stock valued at $635,000 after purchasing an additional 12,350 shares in 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.