Viridian Therapeutics (NASDAQ:VRDN) Shares Down 4.9%

Viridian Therapeutics, Inc. (NASDAQ:VRDN)’s stock price fell 4.9% during trading on Wednesday . The stock traded as low as $12.09 and last traded at $12.14. 62,156 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 955,318 shares. The stock had previously closed at $12.76.

Analysts Set New Price Targets

Several brokerages have recently issued reports on VRDN. Wedbush boosted their price objective on Viridian Therapeutics from $39.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 28th. B. Riley lowered Viridian Therapeutics from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $25.00 to $20.00 in a research report on Thursday, May 9th. Wolfe Research initiated coverage on Viridian Therapeutics in a report on Tuesday, June 11th. They set an “outperform” rating and a $29.00 price target on the stock. HC Wainwright cut their price objective on shares of Viridian Therapeutics from $37.00 to $27.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Finally, LADENBURG THALM/SH SH lowered shares of Viridian Therapeutics from a “buy” rating to a “neutral” rating in a research report on Thursday, May 9th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $32.00.

Viridian Therapeutics Stock Performance

The company’s 50-day moving average price is $13.25 and its two-hundred day moving average price is $17.13. The company has a market cap of $777.33 million, a P/E ratio of -2.68 and a beta of 1.03. The company has a current ratio of 23.99, a quick ratio of 23.99 and a debt-to-equity ratio of 0.05.

Viridian Therapeutics (NASDAQ:VRDN) last released its earnings results on Wednesday, May 8th. The company reported ($0.79) EPS for the quarter, beating the consensus estimate of ($1.07) by $0.28. The business had revenue of $0.07 million during the quarter, compared to analyst estimates of $0.09 million. Viridian Therapeutics had a negative net margin of 75,737.85% and a negative return on equity of 92.04%. The business’s quarterly revenue was down 26.5% on a year-over-year basis. During the same period in the prior year, the business earned ($1.61) earnings per share. As a group, equities analysts forecast that Viridian Therapeutics, Inc. will post -3.61 earnings per share for the current year.

Institutional Investors Weigh In On Viridian Therapeutics

Hedge funds have recently modified their holdings of the stock. Ameritas Investment Partners Inc. increased its position in shares of Viridian Therapeutics by 19.2% in the first quarter. Ameritas Investment Partners Inc. now owns 4,961 shares of the company’s stock worth $87,000 after acquiring an additional 799 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Viridian Therapeutics by 122.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,369 shares of the company’s stock worth $182,000 after purchasing an additional 4,610 shares in the last quarter. Arizona State Retirement System acquired a new stake in Viridian Therapeutics during the 4th quarter valued at $208,000. Principal Financial Group Inc. lifted its holdings in shares of Viridian Therapeutics by 9.7% in the first quarter. Principal Financial Group Inc. now owns 11,915 shares of the company’s stock valued at $209,000 after purchasing an additional 1,058 shares in the last quarter. Finally, Dark Forest Capital Management LP purchased a new position in shares of Viridian Therapeutics during the third quarter valued at $264,000.

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.