Viridian Therapeutics (NASDAQ:VRDN) Shares Down 5.7% – Here’s What Happened

Viridian Therapeutics, Inc. (NASDAQ:VRDN) shares fell 5.7% during trading on Tuesday . The stock traded as low as $20.06 and last traded at $20.31. 444,184 shares traded hands during mid-day 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 Analysts Forecast Growth

VRDN has been the topic of a number of recent analyst reports. BTIG Research upped their price objective on Viridian Therapeutics from $56.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. HC Wainwright reaffirmed a “buy” rating and set a $34.00 price target on shares of Viridian Therapeutics in a research note on Monday. Needham & Company LLC reiterated a “buy” rating and issued a $38.00 price target on shares of Viridian Therapeutics in a report on Monday, November 25th. The Goldman Sachs Group boosted their price objective on shares of Viridian Therapeutics from $25.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. Finally, TD Cowen began coverage on shares of Viridian Therapeutics in a report on Monday, November 25th. They issued a “buy” rating for the company. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Viridian Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $35.70.

Viridian Therapeutics Stock Down 1.1 %

The company has a debt-to-equity ratio of 0.04, a current ratio of 18.55 and a quick ratio of 18.55. The firm’s 50-day moving average price is $21.87 and its 200 day moving average price is $18.05. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of -4.35 and a beta of 1.04.

Viridian Therapeutics (NASDAQ:VRDN) last announced its earnings results on Tuesday, November 12th. The company reported ($1.15) EPS for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.04). Viridian Therapeutics had a negative net margin of 85,127.16% and a negative return on equity of 70.12%. The company had revenue of $0.09 million for the quarter, compared to analyst estimates of $0.08 million. Sell-side analysts expect that Viridian Therapeutics, Inc. will post -4.03 EPS for the current year.

Insider Buying and Selling

In other Viridian Therapeutics news, COO Thomas W. Beetham purchased 5,000 shares of the stock in a transaction on Friday, September 27th. The stock was bought at an average price 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. This represents a 500.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CEO Stephen F. Mahoney acquired 21,400 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were bought at an average cost of $23.33 per share, with a total value of $499,262.00. Following the purchase, the chief executive officer now owns 21,400 shares in the company, valued at approximately $499,262. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.65% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Viridian Therapeutics

A number of institutional investors have recently bought and sold shares of VRDN. Great Point Partners LLC lifted its stake 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 valued at $17,062,000 after purchasing an additional 250,000 shares in the last quarter. Rhumbline Advisers lifted its position in Viridian Therapeutics by 34.5% during the second quarter. Rhumbline Advisers now owns 90,826 shares of the company’s stock valued at $1,182,000 after buying an additional 23,305 shares in the last quarter. Lord Abbett & CO. LLC purchased a new stake in Viridian Therapeutics during the third quarter worth approximately $8,917,000. Candriam S.C.A. grew its stake in Viridian Therapeutics by 167.8% during the second quarter. Candriam S.C.A. now owns 749,804 shares of the company’s stock worth $9,754,000 after buying an additional 469,804 shares during the period. Finally, Novo Holdings A S raised its stake in shares of Viridian Therapeutics by 19.3% in the 3rd quarter. Novo Holdings A S now owns 2,385,000 shares of the company’s stock valued at $54,259,000 after acquiring an additional 385,000 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.