Viridian Therapeutics (NASDAQ:VRDN) Shares Down 6.7% – Time to Sell?

Viridian Therapeutics, Inc. (NASDAQ:VRDN) shares were down 6.7% during trading on Wednesday . The stock traded as low as $10.33 and last traded at $10.28. Approximately 65,546 shares were traded during trading, a decline of 94% from the average daily volume of 1,180,984 shares. The stock had previously closed at $11.02.

Wall Street Analyst Weigh In

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

Viridian Therapeutics Trading Up 5.3 %

The firm has a 50-day moving average of $15.23 and a two-hundred day moving average of $19.01. The firm has a market capitalization of $979.45 million, a P/E ratio of -2.79 and a beta of 0.81. The company has a current ratio of 18.55, a quick ratio of 18.55 and a debt-to-equity ratio of 0.04.

Viridian Therapeutics (NASDAQ:VRDN) last posted its earnings results on Thursday, February 27th. The company reported ($0.81) EPS for the quarter, topping analysts’ consensus estimates of ($1.05) by $0.24. 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 $0.07 million during the quarter, compared to analysts’ expectations of $0.05 million. On average, analysts anticipate that Viridian Therapeutics, Inc. will post -4.03 EPS for the current year.

Institutional Trading of Viridian Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. R Squared Ltd acquired a new position in shares of Viridian Therapeutics during the fourth quarter worth $26,000. Foresite Capital Management VI LLC bought a new stake in Viridian Therapeutics during the 4th quarter worth $38,000. AlphaQuest LLC increased its holdings in Viridian Therapeutics by 119.0% in the 4th quarter. AlphaQuest LLC now owns 2,795 shares of the company’s stock worth $54,000 after purchasing an additional 1,519 shares in the last quarter. GAMMA Investing LLC increased its holdings in Viridian Therapeutics by 3,892.9% in the 1st quarter. GAMMA Investing LLC now owns 8,425 shares of the company’s stock worth $114,000 after purchasing an additional 8,214 shares in the last quarter. Finally, Summit Investment Advisors Inc. raised its position in Viridian Therapeutics by 24.7% in the fourth quarter. Summit Investment Advisors Inc. now owns 7,646 shares of the company’s stock valued at $147,000 after purchasing an additional 1,516 shares during the last quarter.

About Viridian Therapeutics

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.