Viridian Therapeutics (NASDAQ:VRDN) Stock Price Down 5.8% – Should You Sell?

Viridian Therapeutics, Inc. (NASDAQ:VRDN) shares were down 5.8% during mid-day trading on Wednesday . The stock traded as low as $18.63 and last traded at $18.70. Approximately 1,260,835 shares traded hands during mid-day trading, an increase of 5% from the average daily volume of 1,203,962 shares. The stock had previously closed at $19.85.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. HC Wainwright restated a “buy” rating and set a $34.00 price objective on shares of Viridian Therapeutics in a research report on Monday, December 16th. Wells Fargo & Company restated an “equal weight” rating and issued a $27.00 price target (down from $37.00) on shares of Viridian Therapeutics in a research note on Thursday, December 19th. Royal Bank of Canada upped their price objective on shares of Viridian Therapeutics from $44.00 to $47.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 17th. Needham & Company LLC restated a “buy” rating and issued a $38.00 target price on shares of Viridian Therapeutics in a research report on Tuesday, January 7th. Finally, TD Cowen initiated coverage on shares of Viridian Therapeutics in a report on Monday, November 25th. They set a “buy” rating for the company. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $35.70.

Viridian Therapeutics Price Performance

The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of -4.47 and a beta of 1.32. The company has a fifty day simple moving average of $19.34 and a 200 day simple moving average of $19.56. The company has a debt-to-equity ratio of 0.04, a quick ratio of 18.55 and a current ratio of 18.55.

Viridian Therapeutics (NASDAQ:VRDN) last released its earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $0.09 million during the quarter, compared to analyst estimates of $0.08 million. Equities research analysts forecast that Viridian Therapeutics, Inc. will post -4.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Viridian Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the business. R Squared Ltd bought a new position in shares of Viridian Therapeutics during the 4th quarter worth approximately $26,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Viridian Therapeutics during the 3rd quarter valued at $149,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Viridian Therapeutics during the third quarter worth $208,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Viridian Therapeutics by 17.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,997 shares of the company’s stock worth $318,000 after purchasing an additional 2,036 shares during the period. Finally, AlphaCentric Advisors LLC grew its holdings in Viridian Therapeutics by 20.0% in the third quarter. AlphaCentric Advisors LLC now owns 15,000 shares of the company’s stock worth $341,000 after purchasing an additional 2,500 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.