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

Viridian Therapeutics, Inc. (NASDAQ:VRDN) was down 5.7% on Tuesday . The company traded as low as $20.06 and last traded at $20.31. Approximately 444,184 shares were traded during trading, a decline of 61% from the average daily volume of 1,142,907 shares. The stock had previously closed at $21.54.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on VRDN shares. BTIG Research raised their price objective on Viridian Therapeutics from $56.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Wells Fargo & Company reissued 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. Royal Bank of Canada increased 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. Needham & Company LLC reissued a “buy” rating and issued a $38.00 target price on shares of Viridian Therapeutics in a research report on Monday, November 25th. Finally, The Goldman Sachs Group raised their price target on Viridian Therapeutics from $25.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Viridian Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $35.70.

Viridian Therapeutics Price Performance

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

Viridian Therapeutics (NASDAQ:VRDN) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($1.15) EPS for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.04). The firm had revenue of $0.09 million during the quarter, compared to analysts’ expectations of $0.08 million. Viridian Therapeutics had a negative net margin of 85,127.16% and a negative return on equity of 70.12%. As a group, sell-side analysts forecast that Viridian Therapeutics, Inc. will post -4.03 earnings per share for the current fiscal year.

Insider Buying and Selling at Viridian Therapeutics

In related news, COO Thomas W. Beetham acquired 5,000 shares of Viridian Therapeutics stock in a transaction dated Friday, September 27th. The stock was acquired at an average price of $23.41 per share, for a total transaction of $117,050.00. Following the transaction, the chief operating officer now 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Stephen F. Mahoney purchased 21,400 shares of Viridian Therapeutics stock in a transaction that occurred on Friday, September 27th. The stock was bought at an average cost of $23.33 per share, with a total value of $499,262.00. Following the completion of the transaction, the chief executive officer now owns 21,400 shares of the company’s stock, valued at $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 owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of VRDN. Arizona State Retirement System lifted its holdings in shares of Viridian Therapeutics by 14.7% during the second quarter. Arizona State Retirement System now owns 13,178 shares of the company’s stock worth $171,000 after purchasing an additional 1,688 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Viridian Therapeutics by 17.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,997 shares of the company’s stock worth $318,000 after buying an additional 2,036 shares during the last quarter. AlphaCentric Advisors LLC lifted its stake in shares of Viridian Therapeutics by 20.0% in the 3rd quarter. AlphaCentric Advisors LLC now owns 15,000 shares of the company’s stock worth $341,000 after acquiring an additional 2,500 shares during the period. DCF Advisers LLC boosted its holdings in shares of Viridian Therapeutics by 22.4% in the second quarter. DCF Advisers LLC now owns 17,750 shares of the company’s stock valued at $231,000 after acquiring an additional 3,250 shares in the last quarter. Finally, Quest Partners LLC increased its stake in shares of Viridian Therapeutics by 344.0% during the second quarter. Quest Partners LLC now owns 6,056 shares of the company’s stock worth $79,000 after acquiring an additional 4,692 shares during the period.

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.