Viridian Therapeutics (NASDAQ:VRDN) Stock Price Down 3.9%

Viridian Therapeutics, Inc. (NASDAQ:VRDN)’s stock price was down 3.9% on Tuesday . The stock traded as low as $14.63 and last traded at $14.70. Approximately 216,075 shares changed hands during trading, a decline of 78% from the average daily volume of 970,452 shares. The stock had previously closed at $15.29.

Analyst Ratings Changes

Several analysts have recently weighed in on VRDN shares. Wolfe Research started coverage on shares of Viridian Therapeutics in a research report on Tuesday, June 11th. They set an “outperform” rating and a $29.00 price objective for the company. Needham & Company LLC restated a “buy” rating and set a $30.00 price objective on shares of Viridian Therapeutics in a research report on Tuesday, June 11th. B. Riley downgraded shares of Viridian Therapeutics from a “buy” rating to a “neutral” rating and reduced their price target for the company from $25.00 to $20.00 in a research report on Thursday, May 9th. HC Wainwright reiterated a “buy” rating and issued a $27.00 price target on shares of Viridian Therapeutics in a research report on Thursday. Finally, Oppenheimer reissued an “outperform” rating and set a $28.00 price objective (down previously from $31.00) on shares of Viridian Therapeutics in a research note on Monday. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Viridian Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $31.20.

Viridian Therapeutics Stock Up 5.2 %

The company has a debt-to-equity ratio of 0.05, a current ratio of 23.99 and a quick ratio of 23.99. The firm’s 50-day moving average is $13.97 and its 200 day moving average is $15.47. The stock has a market cap of $952.22 million, a price-to-earnings ratio of -3.32 and a beta of 1.13.

Viridian Therapeutics (NASDAQ:VRDN) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($1.02) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.15). Viridian Therapeutics had a negative return on equity of 89.20% and a negative net margin of 79,185.77%. The company had revenue of $0.07 million for the quarter, compared to analyst estimates of $0.09 million. Sell-side analysts anticipate that Viridian Therapeutics, Inc. will post -3.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Viridian Therapeutics

Several large investors have recently made changes to their positions in VRDN. Arizona State Retirement System acquired a new stake in shares of Viridian Therapeutics in the fourth quarter worth $208,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Viridian Therapeutics by 122.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,369 shares of the company’s stock worth $182,000 after acquiring an additional 4,610 shares in the last quarter. Knights of Columbus Asset Advisors LLC boosted its stake in Viridian Therapeutics by 420.9% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 153,949 shares of the company’s stock valued at $3,353,000 after acquiring an additional 124,396 shares during the last quarter. New York State Common Retirement Fund boosted its stake in Viridian Therapeutics by 9.7% during the 4th quarter. New York State Common Retirement Fund now owns 17,495 shares of the company’s stock valued at $378,000 after acquiring an additional 1,545 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in Viridian Therapeutics by 10.1% during the 4th quarter. Russell Investments Group Ltd. now owns 329,484 shares of the company’s stock valued at $7,176,000 after acquiring an additional 30,343 shares during the last quarter.

Viridian Therapeutics Company Profile

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.