Viridian Therapeutics (NASDAQ:VRDN) Trading Down 5.7% – What’s Next?

Viridian Therapeutics, Inc. (NASDAQ:VRDN) shares fell 5.7% on Tuesday . The company traded as low as $20.06 and last traded at $20.31. 444,184 shares changed hands during trading, a decline of 61% from the average session volume of 1,142,907 shares. The stock had previously closed at $21.54.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. HC Wainwright reiterated a “buy” rating and set a $34.00 price target on shares of Viridian Therapeutics in a report on Monday. TD Cowen assumed coverage on Viridian Therapeutics in a report on Monday, November 25th. They set a “buy” rating on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $38.00 price objective on shares of Viridian Therapeutics in a research report on Monday, November 25th. Royal Bank of Canada boosted their target price on shares of Viridian Therapeutics from $44.00 to $47.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, BTIG Research lifted their price target on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $36.67.

Viridian Therapeutics Stock Performance

The company has a quick ratio of 18.55, a current ratio of 18.55 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $1.69 billion, a PE ratio of -4.87 and a beta of 1.04. The company has a 50-day moving average price of $22.00 and a two-hundred day moving average price of $17.99.

Viridian Therapeutics (NASDAQ:VRDN) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share for the quarter, missing the consensus estimate of ($1.11) by ($0.04). Viridian Therapeutics had a negative return on equity of 70.12% and a negative net margin of 85,127.16%. The firm had revenue of $0.09 million during the quarter, compared to the consensus estimate of $0.08 million. Analysts predict that Viridian Therapeutics, Inc. will post -4.03 EPS for the current fiscal year.

Insider Activity

In related news, COO Thomas W. Beetham bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The stock was bought at an average cost of $23.41 per share, for a total transaction of $117,050.00. Following the acquisition, the chief operating officer now directly owns 6,000 shares of the company’s stock, valued at $140,460. The trade was a 500.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stephen F. Mahoney bought 21,400 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were bought at an average cost of $23.33 per share, for a total transaction of $499,262.00. Following the purchase, the chief executive officer now directly owns 21,400 shares in the company, valued at approximately $499,262. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.65% of the company’s stock.

Institutional Trading of Viridian Therapeutics

Large investors have recently bought and sold shares of the company. FMR LLC lifted its stake in shares of Viridian Therapeutics by 16.8% in the 3rd quarter. FMR LLC now owns 11,183,478 shares of the company’s stock valued at $254,424,000 after purchasing an additional 1,610,130 shares during the period. Maverick Capital Ltd. raised its holdings in Viridian Therapeutics by 22.9% in the second quarter. Maverick Capital Ltd. now owns 3,307,945 shares of the company’s stock worth $43,036,000 after purchasing an additional 615,531 shares in the last quarter. Novo Holdings A S lifted its position in Viridian Therapeutics by 19.3% during the third quarter. Novo Holdings A S now owns 2,385,000 shares of the company’s stock valued at $54,259,000 after buying an additional 385,000 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Viridian Therapeutics by 5.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,493,311 shares of the company’s stock valued at $33,979,000 after buying an additional 81,951 shares in the last quarter. Finally, Great Point Partners LLC grew its position in shares of Viridian Therapeutics by 50.0% in the 3rd quarter. Great Point Partners LLC now owns 750,000 shares of the company’s stock worth $17,062,000 after buying an additional 250,000 shares during the period.

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.