Viridian Therapeutics (NASDAQ:VRDN) Stock Price Down 3.5% - Here's What Happened

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) fell 3.5% on Monday . The company traded as low as $16.63 and last traded at $16.80. 38,629 shares changed hands during trading, a decline of 96% from the average session volume of 892,468 shares. The stock had previously closed at $17.41.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on VRDN. JMP Securities decreased their price objective on Viridian Therapeutics from $42.00 to $38.00 and set a "market outperform" rating on the stock in a report on Wednesday, May 7th. The Goldman Sachs Group decreased their price objective on Viridian Therapeutics from $31.00 to $27.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Needham & Company LLC reaffirmed a "buy" rating and set a $36.00 price objective on shares of Viridian Therapeutics in a report on Tuesday, May 20th. HC Wainwright reiterated a "buy" rating and issued a $34.00 target price on shares of Viridian Therapeutics in a research note on Wednesday, April 23rd. Finally, Royal Bank Of Canada cut 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. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Viridian Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus target price of $37.00.

Viridian Therapeutics Stock Down 3.1%

The company has a debt-to-equity ratio of 0.05, a quick ratio of 19.49 and a current ratio of 19.49. The firm's 50-day moving average is $15.63 and its two-hundred day moving average is $15.22. The stock has a market cap of $1.38 billion, a P/E ratio of -4.38 and a beta of 0.42.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.87) earnings per share for the quarter, topping 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 company's revenue for the quarter was up .0% compared to the same quarter last year. On average, equities research analysts anticipate that Viridian Therapeutics, Inc. will post -4.03 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of VRDN. Amalgamated Bank raised its position in shares of Viridian Therapeutics by 49.7% during 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 last quarter. Foresite Capital Management VI LLC bought a new stake in shares of Viridian Therapeutics during the 4th quarter valued at $38,000. GAMMA Investing LLC raised its position in shares of Viridian Therapeutics by 3,892.9% during the 1st quarter. GAMMA Investing LLC now owns 8,425 shares of the company's stock valued at $114,000 after acquiring an additional 8,214 shares during the last quarter. Summit Investment Advisors Inc. raised its position in shares of Viridian Therapeutics by 24.7% during the 4th quarter. Summit Investment Advisors Inc. now owns 7,646 shares of the company's stock valued at $147,000 after acquiring an additional 1,516 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Viridian Therapeutics during the 2nd quarter valued at $170,000.

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.

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