Viridian Therapeutics (NASDAQ:VRDN) Trading 3.9% Higher - What's Next?

Key Points

• Viridian Therapeutics (NASDAQ:VRDN) shares increased by 3.9% in mid-day trading, reaching a last traded price of $23.91, despite a significant drop in trading volume.
• Recent analyst ratings reflect mixed opinions, with Goldman Sachs setting a new price target of $30 and a “buy” rating, while Weiss Ratings maintained a “sell” rating.
• The company's earnings report indicated a negative earnings per share of ($1.00) and a 4.2% increase in revenue compared to the same quarter last year, surpassing analysts' expectations.

Viridian Therapeutics, Inc. (NASDAQ:VRDN - Get Free Report) rose 3.9% during mid-day trading on Friday . The company traded as high as $24.68 and last traded at $23.91. Approximately 222,844 shares traded hands during trading, a decline of 75% from the average daily volume of 878,412 shares. The stock had previously closed at $23.01.

Analysts Set New Price Targets

VRDN has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Viridian Therapeutics in a research note on Wednesday, October 8th. The Goldman Sachs Group raised their price objective on shares of Viridian Therapeutics from $27.00 to $30.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Oppenheimer upped their price objective on Viridian Therapeutics from $28.00 to $32.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Wells Fargo & Company decreased their price objective on Viridian Therapeutics from $27.00 to $26.00 and set an "equal weight" rating for the company in a research note on Thursday, August 7th. Finally, Needham & Company LLC reduced their target price on shares of Viridian Therapeutics from $36.00 to $34.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Viridian Therapeutics presently has an average rating of "Moderate Buy" and an average target price of $34.88.

Viridian Therapeutics Stock Performance

The stock has a market cap of $1.94 billion, a price-to-earnings ratio of -6.21 and a beta of 0.49. The stock's 50-day moving average is $19.53 and its 200 day moving average is $16.22. The company has a debt-to-equity ratio of 0.04, a current ratio of 11.01 and a quick ratio of 11.01.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($1.00) EPS for the quarter, meeting the consensus estimate of ($1.00). Viridian Therapeutics had a negative net margin of 112,806.88% and a negative return on equity of 78.95%. The firm had revenue of $0.08 million during the quarter, compared to analysts' expectations of $0.05 million. During the same quarter last year, the business earned ($0.81) earnings per share. The business's revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, analysts predict that Viridian Therapeutics, Inc. will post -4.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Viridian Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in VRDN. GAMMA Investing LLC grew its stake 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 buying an additional 8,214 shares during the period. Rhumbline Advisers increased its position in Viridian Therapeutics by 4.6% during the 1st quarter. Rhumbline Advisers now owns 104,559 shares of the company's stock worth $1,409,000 after purchasing an additional 4,621 shares in the last quarter. SG Americas Securities LLC increased its position in Viridian Therapeutics by 2.9% during the 1st quarter. SG Americas Securities LLC now owns 31,972 shares of the company's stock worth $431,000 after purchasing an additional 887 shares in the last quarter. Amalgamated Bank grew its stake in Viridian Therapeutics by 49.7% during the first quarter. Amalgamated Bank now owns 2,531 shares of the company's stock worth $34,000 after buying an additional 840 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of Viridian Therapeutics by 17.0% during the 1st quarter. Principal Financial Group Inc. now owns 208,836 shares of the company's stock valued at $2,815,000 after acquiring an additional 30,392 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.

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