Viridian Therapeutics (NASDAQ:VRDN) Trading 4.3% Higher – Should You Buy?

Viridian Therapeutics, Inc. (NASDAQ:VRDN)’s stock price rose 4.3% during mid-day trading on Tuesday . The stock traded as high as $13.05 and last traded at $13.38. Approximately 42,057 shares traded hands during mid-day trading, a decline of 96% from the average daily volume of 1,188,955 shares. The stock had previously closed at $12.82.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on VRDN shares. Needham & Company LLC restated a “buy” rating and issued a $36.00 target price on shares of Viridian Therapeutics in a research note on Tuesday. JMP Securities lowered their price objective on Viridian Therapeutics from $42.00 to $38.00 and set a “market outperform” rating for the company in a research report on Wednesday, May 7th. HC Wainwright restated a “buy” rating and set a $34.00 target price on shares of Viridian Therapeutics in a report on Wednesday, April 23rd. The Goldman Sachs Group decreased their price target on shares of Viridian Therapeutics from $31.00 to $27.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. Finally, Royal Bank of Canada lowered their price target on shares of Viridian Therapeutics from $46.00 to $45.00 and set an “outperform” rating for the company in a research report on Wednesday, May 7th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $36.70.

Viridian Therapeutics Trading Down 1.2%

The stock has a market cap of $1.11 billion, a PE ratio of -3.17 and a beta of 0.57. The firm has a 50-day moving average price of $13.25 and a 200-day moving average price of $16.99. 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 issued its earnings results on Tuesday, May 6th. The company reported ($0.87) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.95) by $0.08. Viridian Therapeutics had a negative net margin of 85,127.16% and a negative return on equity of 70.12%. The business had revenue of $0.07 million during the quarter, compared to analysts’ expectations of $0.16 million. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. As a group, equities analysts anticipate that Viridian Therapeutics, Inc. will post -4.03 EPS for the current fiscal year.

Institutional Trading of Viridian Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Barclays PLC raised its stake in shares of Viridian Therapeutics by 113.1% in the third quarter. Barclays PLC now owns 125,397 shares of the company’s stock worth $2,851,000 after purchasing an additional 66,550 shares during the last quarter. SG Americas Securities LLC increased its holdings in Viridian Therapeutics by 89.1% in the 4th quarter. SG Americas Securities LLC now owns 31,085 shares of the company’s stock worth $596,000 after buying an additional 14,644 shares in the last quarter. Moody Aldrich Partners LLC purchased a new position in Viridian Therapeutics in the 4th quarter worth about $1,125,000. Vanguard Group Inc. lifted its stake in Viridian Therapeutics by 4.0% during the 4th quarter. Vanguard Group Inc. now owns 4,595,049 shares of the company’s stock valued at $88,087,000 after acquiring an additional 174,952 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in shares of Viridian Therapeutics by 3.3% during the 4th quarter. Principal Financial Group Inc. now owns 178,444 shares of the company’s stock valued at $3,421,000 after acquiring an additional 5,634 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.