Viridian Therapeutics (NASDAQ:VRDN) Trading Up 5.2% - What's Next?

Key Points

• Shares rose ~5.2% to $15.22 on Thursday on light volume (~556K shares), but the stock remains well below its 50- and 200-day moving averages (~$27) and far under the analysts' average price target of $37.57 after several recent target cuts.
• Viridian reported a sharp quarterly miss — EPS of -$1.08 vs. -$0.90 expected and revenue of $0.13M vs. $15.75M expected — producing steep negative margins and ROE, though the balance sheet shows low leverage (debt/equity 0.08) and high liquidity (current ratio 12.65).
• The company is a clinical-stage biotech advancing lead antibody candidate VRDN-001 for thyroid eye disease (and VRDN-002 for complement-mediated disorders), and analyst consensus remains a "Moderate Buy" (13 Buys, 1 Hold, 1 Sell) despite lowered targets.

Viridian Therapeutics, Inc. (NASDAQ:VRDN - Get Free Report) was up 5.2% on Thursday . The company traded as high as $15.05 and last traded at $15.2170. Approximately 556,307 shares were traded during trading, a decline of 72% from the average daily volume of 2,015,085 shares. The stock had previously closed at $14.47.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on VRDN shares. Wells Fargo & Company decreased their target price on shares of Viridian Therapeutics from $29.00 to $20.00 and set an "equal weight" rating on the stock in a research note on Tuesday, March 31st. HC Wainwright decreased their target price on shares of Viridian Therapeutics from $34.00 to $22.00 and set a "buy" rating on the stock in a research note on Tuesday, March 31st. Needham & Company LLC decreased their target price on shares of Viridian Therapeutics from $42.00 to $32.00 and set a "buy" rating on the stock in a research note on Monday, March 30th. Wedbush decreased their target price on shares of Viridian Therapeutics from $37.00 to $31.00 and set an "outperform" rating on the stock in a research note on Wednesday. Finally, Truist Financial decreased their target price on shares of Viridian Therapeutics from $41.00 to $40.00 and set a "buy" rating on the stock in a research note on Thursday, January 8th. Thirteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $37.57.

Viridian Therapeutics Trading Up 7.3%

The company has a debt-to-equity ratio of 0.08, a current ratio of 12.65 and a quick ratio of 12.65. The company has a market cap of $1.59 billion, a price-to-earnings ratio of -4.73 and a beta of 1.16. The business's fifty day moving average price is $27.19 and its 200 day moving average price is $27.73.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($1.08) earnings per share for the quarter, missing the consensus estimate of ($0.90) by ($0.18). Viridian Therapeutics had a negative return on equity of 83.25% and a negative net margin of 483.57%.The business had revenue of $0.13 million during the quarter, compared to the consensus estimate of $15.75 million. Research analysts anticipate that Viridian Therapeutics, Inc. will post -4.03 earnings per share for the current fiscal year.

Institutional Trading of Viridian Therapeutics

Institutional investors have recently modified their holdings of the business. Aster Capital Management DIFC Ltd bought a new stake in shares of Viridian Therapeutics in the third quarter worth $35,000. ANTIPODES PARTNERS Ltd bought a new stake in shares of Viridian Therapeutics in the fourth quarter worth $36,000. Farther Finance Advisors LLC grew its stake in shares of Viridian Therapeutics by 332.1% in the third quarter. Farther Finance Advisors LLC now owns 1,940 shares of the company's stock worth $42,000 after purchasing an additional 1,491 shares during the last quarter. Bessemer Group Inc. grew its stake in shares of Viridian Therapeutics by 947.7% in the third quarter. Bessemer Group Inc. now owns 2,085 shares of the company's stock worth $45,000 after purchasing an additional 1,886 shares during the last quarter. Finally, Larson Financial Group LLC bought a new stake in shares of Viridian Therapeutics in the third quarter worth $52,000.

About Viridian Therapeutics

Viridian Therapeutics, Inc NASDAQ: VRDN is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted antibody therapeutics for patients suffering from rare and serious diseases. The company's lead program, VRDN-001, is a fully human monoclonal antibody that antagonizes the insulin-like growth factor-1 receptor (IGF-1R), with an initial focus on thyroid eye disease (TED). By selectively inhibiting IGF-1R signaling, VRDN-001 aims to reduce inflammation and tissue remodeling associated with TED and related disorders.

In addition to VRDN-001, Viridian is advancing a second antibody program, VRDN-002, which targets complement-mediated pathways implicated in autoimmune and inflammatory diseases.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.