Viridian Therapeutics (NASDAQ:VRDN) Trading 5.6% Higher

Viridian Therapeutics, Inc. (NASDAQ:VRDN)’s share price was up 5.6% during trading on Friday . The stock traded as high as $13.73 and last traded at $13.68. Approximately 22,408 shares traded hands during trading, a decline of 98% from the average daily volume of 951,068 shares. The stock had previously closed at $12.95.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on VRDN shares. B. Riley cut Viridian Therapeutics from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $25.00 to $20.00 in a research report on Thursday, May 9th. HC Wainwright dropped their price objective on Viridian Therapeutics from $37.00 to $27.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Oppenheimer dropped their price objective on Viridian Therapeutics from $36.00 to $31.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. LADENBURG THALM/SH SH cut Viridian Therapeutics from a “buy” rating to a “neutral” rating in a research report on Thursday, May 9th. Finally, Wolfe Research started coverage on Viridian Therapeutics in a research report on Tuesday, June 11th. They set an “outperform” rating and a $29.00 price objective on the stock. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $32.00.

Viridian Therapeutics Price Performance

The firm has a 50 day moving average price of $12.91 and a 200 day moving average price of $16.55. The company has a quick ratio of 23.99, a current ratio of 23.99 and a debt-to-equity ratio of 0.05. The stock has a market cap of $863.48 million, a P/E ratio of -3.10 and a beta of 1.12.

Viridian Therapeutics (NASDAQ:VRDN) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.79) EPS for the quarter, topping the consensus estimate of ($1.07) by $0.28. Viridian Therapeutics had a negative return on equity of 92.04% and a negative net margin of 75,737.85%. The firm had revenue of $0.07 million for the quarter, compared to the consensus estimate of $0.09 million. During the same quarter last year, the company earned ($1.61) earnings per share. The business’s revenue for the quarter was down 26.5% compared to the same quarter last year. On average, analysts forecast that Viridian Therapeutics, Inc. will post -3.61 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. grew its position in shares of Viridian Therapeutics by 19.2% during the first quarter. Ameritas Investment Partners Inc. now owns 4,961 shares of the company’s stock worth $87,000 after purchasing an additional 799 shares in the last quarter. Swiss National Bank grew its position in shares of Viridian Therapeutics by 1.2% during the fourth quarter. Swiss National Bank now owns 67,200 shares of the company’s stock worth $1,464,000 after purchasing an additional 800 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Viridian Therapeutics by 9.7% during the first quarter. Principal Financial Group Inc. now owns 11,915 shares of the company’s stock worth $209,000 after purchasing an additional 1,058 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Viridian Therapeutics by 4.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,822 shares of the company’s stock worth $505,000 after purchasing an additional 1,135 shares in the last quarter. Finally, New York State Common Retirement Fund grew its holdings 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 buying an additional 1,545 shares in 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.