Viridian Therapeutics (NASDAQ:VRDN) Trading Up 8.4% - What's Next?

Viridian Therapeutics, Inc. (NASDAQ:VRDN - Get Free Report)'s share price traded up 8.4% on Wednesday . The company traded as high as $17.39 and last traded at $17.40. 371,403 shares were traded during trading, a decline of 68% from the average session volume of 1,151,021 shares. The stock had previously closed at $16.05.

Analyst Ratings Changes

A number of analysts have weighed in on the company. JMP Securities decreased their price target on Viridian Therapeutics from $42.00 to $38.00 and set a "market outperform" rating for the company in a report on Wednesday, May 7th. Needham & Company LLC reiterated a "buy" rating and set a $36.00 price target on shares of Viridian Therapeutics in a report on Tuesday, May 20th. HC Wainwright reiterated a "buy" rating and set a $34.00 price target on shares of Viridian Therapeutics in a report on Wednesday, April 23rd. The Goldman Sachs Group decreased their price target on Viridian Therapeutics from $31.00 to $27.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Finally, Royal Bank Of Canada cut their price objective on shares of Viridian Therapeutics from $46.00 to $45.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $37.56.

Viridian Therapeutics Stock Down 0.5%

The company has a market cap of $1.39 billion, a P/E ratio of -4.43 and a beta of 0.39. The company has a current ratio of 19.49, a quick ratio of 19.49 and a debt-to-equity ratio of 0.05. The stock's 50-day moving average price is $14.38 and its 200-day moving average price is $15.44.

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 for the quarter, beating 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 business had revenue of $0.07 million for the quarter, compared to analysts' expectations of $0.16 million. The company's revenue was up .0% on a year-over-year basis. As a group, research analysts forecast that Viridian Therapeutics, Inc. will post -4.03 EPS for the current year.

Hedge Funds Weigh In On Viridian Therapeutics

Large investors have recently added to or reduced their stakes in the business. Amalgamated Bank lifted its position 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 in the last quarter. Foresite Capital Management VI LLC bought a new position in Viridian Therapeutics in the 4th quarter valued at about $38,000. AlphaQuest LLC lifted its position in Viridian Therapeutics by 119.0% in the 4th quarter. AlphaQuest LLC now owns 2,795 shares of the company's stock valued at $54,000 after acquiring an additional 1,519 shares in the last quarter. GAMMA Investing LLC lifted its position in Viridian Therapeutics by 3,892.9% in 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 in the last quarter. Finally, Summit Investment Advisors Inc. lifted 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 worth $147,000 after buying an additional 1,516 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.